Deciding Between Regular Auto Insurance And CTP
Insurance coverage renewals usually pop up around the time when you renew your car registration. This is the time you decide on what specific kinds of insurance are out there to protect you. In general there is the regular auto insurance and the CTP or compulsory third party type.
Your car is always covered by a regular auto insurance coverage and is a must. It protects your money from being spent on damages to your car in the event of an accident. On the other hand CTP covers other things like damages not only to property but to people as well.
Not all accident damages are relegated to property damage or automobile damage alone. Very few accidents are reported in which there is no injury at all. Most accidents will always have situations where people get injured, whether slightly or seriously.
In an event therefore of an accident, a regular auto policy will only cover damages to your car or the cars involved in an accident. It will not cover injuries to persons, no matter how small or minimal it may be. Thus a CTP coverage will be much needed if injuries do occur.
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.
Another point to consider in choosing the CTP policy is its provisions for those who caused the accident. Most policies do not cover or award any claims made on behalf of the person who caused the accident. However, some policies do provide this option, it is just a matter of doing the proper research and consultation.
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