Motor Vehicle InsuranceWhat does it typically cover?
Motor Vehicle Insurance offers different levels of coverage and protection: comprehensive, Third-party, and Third-Party, Fire and Theft Insurance
Comprehensive Insurance:
This type of insurance provides the highest level of coverage for your vehicle. It covers:
- Damage to your own vehicle in accidents (regardless of fault).
- Damage to other vehicles or property.
- Theft, vandalism, and fire.
Loss of use is a policy extension that can be added to cover rental vehicle costs if the insured vehicle cannot be used due to a valid claim under the Motor Vehicle Insurance Policy.
Third-Party Insurance:
Third-party Insurance is recommended as a minimum level of coverage for car insurance in New Zealand. It covers:
- Damage or injury caused to other people and their property by your vehicle.
It does not cover any damage to your own vehicle. This type of insurance is typically cheaper than comprehensive insurance but comes with less coverage.
Third-Party, Fire and Theft Insurance:
This type of insurance provides the same coverage as Third-Party Insurance but also includes coverage for theft of your vehicle and damage caused by fire.
