👉 Don't forget to join the Mentoring Family here: A question that I've been asked a lot is: “Sanjay, What are the different types of car insurance?" 🤔
Now. There are primarily two different types of car insurance:
✅ Comprehensive Car Insurance
✅ Third Party Car Insurance.
You will hear that there are many different types of car insurance. They will talk about Gap Insurances, Liability Insurances, Medical Insurances, all these can be summarized under TWO primary categories.
Comprehensive Car Insurance which gives you insurance in case something happens to your car as well as the person that has had an accident with you.
Third-party car insurance does not protect your car. It only protects the person whose car got damaged. So if you hit someone, that person's car gets repaired, yours doesn't.
However, if someone hits you their insurance company will take care of your car expenses.
In conclusion, there are TWO BASIC TYPES of Car Insurance:
1. Comprehensive
2. Third Party
All other different types of car insurance would come UNDER one of these two categories. So keep an open mind when you're studying car insurance or trying to understand car insurance in general!
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🎖 Who is Dr Sanjay Tolani? 🎖
Dr. Sanjay Tolani, became the “youngest member” at the age of 19 and the “youngest life member” at the Age of 28 to the Million Dollar Round Table (MDRT). He also has 13 Top of the Table Qualifications (TOT), which is considered the pinnacle of the financial services profession. To top things off, he is also the youngest Managing Director of an insurance brokerage in the Middle East.
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