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Car Insurance in Pakistan

Difference Between Liability And Comprehensive Coverage In Car Insurance

Posted by Admin on 15 Mar 2022

There’s a major difference between the two when it comes to the car insurance policy. There might be some confusion between liability cover and comprehensive cover. For instance liability coverage covers for the damages caused by you to others or their properties. Comprehensive, however, refers to any damage caused to you by others. Let’s Compare brings you a comprehensive guideline on what to expect from each policy. Let’s take a look at the details.

Liability VS Comprehensive Cover

Liability and comprehensive covers have different packages and different covers. Some of them are customizable and some are constant. The major difference between liability and comprehensive cover is that the liability cover benefits the third-party while comprehensive cover benefits the owner. In some countries, liability coverage is a must in order to practice safe driving. Let’s take a look at both coverages and figure out the difference between their covers. 

Liability Cover

Liability cover is applicable when there is damage to property due to your own negligence. Meaning if you cause damage to the driver or their vehicle then you won’t have to bear the hefty charges. Your insurance company will bear the charges instead. Now let’s take a look at what liability policy covers. Some countries have made it an obligation to have a liability cover. It ensures the safety of citizens. 

What Liability Cover Provides?

To be clear, liability cover will not cover your damage. It will only cover for the damages done to others by you. Normally liability cover will provide the following services. 

  • Third-party injury.
  • Third-party property damage.
  • Self-cover customizable.

Comprehensive Cover

Comprehensive cover is different from liability cover. It covers all the damages done to you in case of an accident. It is a mixture of own damage and third-party car insurance. It covers the hefty damages. This plan is customizable. Let’s take a look at what it covers.

 

What Comprehensive Cover Provides?

 It will cover for all the unforeseen damages including natural disasters. The damage done by riots, strikes, and other kinds of public events is also covered under the comprehensive cover. It provides cover for personal accidents along with the advantage of add-on covers. 

In short, comprehensive cover and liability cover are two different types of covers providing different services and covers. Let’s Compare brings you a platform to read about it in-depth and decide what package suits you best. We provide you with an online comparison platform with policies from the 10 best insurance companies in Pakistan. Visit our website now and get insured today.


 

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Car Insurance in Pakistan

What Is Commercial Vehicle Insurance

Posted by Admin on 26 Jan 2023

Car insurance is one of the most popular insurance types sold in the insurance industry. Cars are considered the ultimate assets which is why they are valued much more than other possessions. Most people are passionate and take car care personally, which is why they do all they can in order to ensure the safety of their cars. Ever since there has been a hike in inflation, people have started using their vehicles for commercial purposes to make some extra money on the side. A common misconception shared by people trying to use their vehicle for commercial use is that their vehicle is insured under the standard insurance policy also known as personal car insurance. However, this is not the case. So let’s take a look at how you can cover your vehicle for commercial use. Why Is My Vehicle Not Covered For Commercial Use?Your vehicle is not covered under commercial use because using your vehicle commercially involves risk higher than regular use. It puts you and your vehicle at an increased risk hence it requires additional coverage. You use your vehicle a lot more than work and wandering. Oftentimes the risk is higher due to your hands being tied and you not being able to decline due to unfamiliar areas putting your vehicle at a greater risk of theft or damages and putting your life on the line. What Is Commercial Car Insurance?Commercial car insurance is an extended cover for your car when you intend to use your vehicle for earning. It is different from personal car insurance because it has cover options. Personal car insurance is designed to cater to your personal needs while commercial car insurance caters to all kinds of risks involved in your industry. What Can I Do With My Car Covered Commercially?There are a lot of concerns that need to be addressed when you are using your car commercially. You have little to no choice but to decline when expecting a paid service so it can cause a lot of damage to your vehicle and might put it at a greater risk of being damaged in any way. Following are the things commercial vehicles are most commonly used for.Offering pick and drop to clients.Delivering goods.Towing vehicles.Delivering intercity.Haul heavy loads.All of these tasks can put you and your vehicle at a greater risk of getting damaged. This is why it is important to have your vehicle commercially protected if you are using it for paid services.Who Is Covered Under Commercial Auto Insurance?Commercial auto insurance covers the driver and the passengers for personal injury under the bodily injury cover. It also has property damage cover for when you are at fault. In conclusion, commercial auto insurance is a must if you use your personal or business car for commercial use. It provides extended coverage than private car insurance so the premium may be higher depending on the insurer. This is due to a higher risk of vehicle damage or bodily injury.So get insured, and have safe driving!

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Fire Insurance in Pakistan

Fire Insurance And Its Features In Pakistan

Posted by Admin on 24 Jan 2023

Insurance protects you and your assets in case of an accident. Everything can be insured against all kinds of threats. Fire insurance works similarly, it protects you and covers your assets in the event of unexpected fires. Fire insurance has many features that we will discuss in today’s blog. Let’s take a look at them now!What Is Fire Insurance?Fire insurance reimburses the cost of repair, reconstruction, or replacement of any property damaged during the incident of fire. It also covers the damage caused by smoke and water while firefighters put away the fire. Hence it covers all kinds of property damage caused during the fire. What Are The Features Of A Fire Insurance Policy?There are many features of a fire insurance policy. Some of them are discussed below!Insurable Interest In PropertyThis condition implies that the survival of the item getting insured should be beneficial for the policyholder and if the item is lost during the fire, the policyholder can suffer a loss. This is applicable both at the time of buying policy and at the time of claim.Principal Of Utmost Good FaithThis states that at the time of buying the policy, the insured must spill all the details of whatever is being insured. The risk of the building catching fire, environment, construction of the house/shop, and other related queries. This is important because the insurer needs to calculate the risk and issue the policy accordingly. During any time when the insurer finds out that the vital information was hidden from them, they have all the rights to terminate the policy. The insurer is also responsible for telling you all the details about the policy and suggesting you the best one that suits your requirements.  Contract Of IndemnityThis states that the policyholder must only claim up to the limit settled at the time of buying a policy. In case there was no damage, the claim is no longer acceptable. These were some features of the fire insurance policy. Now, look at who can get fire insurance.Who Is Eligible For Fire Insurance?Anyone who wants to protect their assets is eligible for fire insurance. It benefits the shopkeepers or business owners the most. For example, if you own a business of furniture or clothes and in case of a fire, these two things will get affected the most and will cause huge financial damage. So a shopkeeper or business owner must have fire insurance for such instances.  In conclusion, if you have any asset that you want to protect from fire whether it be your whole house or your business you must get fire insurance. This will reimburse the damages done by fire, smoke, and water while putting out the fire. Some policies may even offer the temporary residence for the ones who lose their houses and living spaces to fire. It also has emergency medical cover in case of burns and damage to one’s own health. So get insured now!