The Difference Between Regular Auto Insurance And CTP
The only time we really come face to face with insurance dealing with automobiles is when we renew our registrations. Renewing your registration means you also have to renew your coverage. But there is a big difference in what is regular auto insurance and CTP or compulsory third party insurance.
Auto policies in general covers your automobile. It protects your pocket in terms of exorbitant damages should you figure in an accident and need to have it repaired or even replaced. CTP on the other hand deals with something much more valuable.
In a lot of accidents very few are those that do no injury. A majority of accidents will see injuries caused to people, whether they are in the vehicle or not. Expect that in every accident, an injury will occur, whether or not it is a serious injury.
Preparation for all types of accident scenarios is definitely key in protecting your pocket from claims against you, should you be the one that caused the accident especially. These claims can arise from injury to persons and damage to surrounding property. In such events and cases, the CTP and its provider can be good friends to have indeed.
Finding the right CTP provider should be a priority. The provider must be recognized and been stable in the field for a number of years. Apart from having a good track record the provider must be seen also as being responsive and caring when an accident occurs.
Although many CTP policies do not cover the person who instigated or caused the accident, some in fact do. Some providers actually provide more than adequate sums of coverage for those who caused the accident also. In scoping out the market, look for subtle or major differences in the kinds of claims that they give and see which one is the most advantageous for you.
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Tags: car insurance, Insurance