Your Motor 4 U Online
Welcome to Your Motor 4 U Online!

Insurance Articles


What is the Difference between Third Party Liability and Full Coverage Insurance?
By Ian Major


Ppi Reclaim
Banks had it their own way for quite some time. Fat cats were getting their cream and their poor customers were being fleeced in the process. They`d go cap in hand to the banks for a loan and were offered payment protection insurance (PPI) at the same time. In many cases the rate for the loan would be lower if PPI was taken out at the same time making it seem more attractive. However, the cost of PPIs could vary from 13% right up to 56% of the loan amount. Moreover, clauses were often put into the policies that meant they wouldn`t pay out anyway in times of sickness or redundancy. People have wised-up in recent times and those who think they might have been pressured into paying for, or misled about a policy, can speak to claims management teams about a possible Ppi Reclaim. They could be entitled to thousands of pounds if the Ppi Reclaimis successful. If you weren`t given all of the facts about your PPI in the past then you have a strong case for the Ppi Reclaim. Why should the banks get away with fleecing their customers over a number of years, especially with regards to payment protection insurance? Customers who think that they might have been treated unfairly have a strong right of appeal.


Insurance can be very confusing for those of us who are not in the insurance business.

Often, our insurance agents start babbling about liability, comprehensive coverage, third party liability, and more ? and we feel like they are speaking a language we have never heard before. Well ? in a sense they are.

Again, it is very confusing to those who are not in the insurance business. Unfortunately, if you are to get the coverage that you need, at a price you can afford, you must start learning some of the terminology.

For instance, many people do not understand what the difference between third party liability insurance and full coverage insurance is. Third party liability coverage and full coverage insurance are much the same, but in other ways they are uniquely different. Before you determine which one you need, it is important to understand exactly what each type of coverage is.

Third Party Liability Coverage is essentially coverage that protects you in the event of an accident that is your fault.

It generally covers other people and their property that is damaged in a covered accident. It does not cover you, your passengers, your boat, your motor, or your trailer. Furthermore, third party liability coverage only goes into effect if your boat is in an accident that occurred when the boat was being used in a private capacity, as opposed to a commercial capacity.

Third party liability coverage is required by most states, and each state will have its own requirements as to the minimum liability coverage amounts that you have.

This type of insurance is generally required whether your boat is financed or not. Third party liability insurance coverage is often simply referred to as liability insurance, or in the case of boats, watercraft liability insurance. Talk to your agent to find out how much coverage is required in your state.

Full coverage insurance, on the other hand, will cover you, your boat, your motor, your trailer, and your passengers.

It is often referred to as comprehensive insurance, and it is available in different coverage amounts, with different options that are available for the policy. This type of insurance will be required by most lenders who finance boats, and most lenders will have their own requirements as to which optional insurance is purchased.

Essentially, what it comes down to is that third party liability insurance coverage protects other people and their property in the event of an accident that is your fault, while full coverage insurance protects you and your property ? in the same way that the third party insurance protects others.

In fact, full coverage insurance will cover you whether the accident was your fault, someone else`s fault, or even no-fault. In most cases, it is in your best interest to have both third party liability insurance coverage ? which is required ? as well as full coverage insurance ? which may be required if you have financed your boat.

Again, even if the boat has not been financed, you should strongly consider purchasing a full coverage or comprehensive policy. Many people even continue to carry the full coverage policy long after the boat has been paid off.

Boat repairs are expensive, and anything can happen.

Most full coverage policies will cover you in the event of mechanical failure, theft, and vandalism, as well as losses caused by storms, fires, explosions, sinking, and much more. Talk with your insurance agent to find out about the different options available for full coverage policies, and make sure that you get the coverage that you need!

CopyRight Ian D. Major 2005.

Ian D. Major makes it easy to understand Boat Insurance, quickly and easily. Learn all you need to know by visiting Why You Need Boat Insurance an entirely FREE source of information about Boat Insurance.

Article Source: http://EzineArticles.com/?expert=Ian_Major

For more information, news and articles see:

Dock Levellers - Dock Levellers
...an place your vehicles near for loading and unloading your various goods. Our levellers are extremely strong and durable, and are made to handle your vehicle with ease. You are given easy operational ...
Visit Dock Levellers...

Hgv Courier Insurance - Hgv Courier Insurance
... a very different type of insurance that you would normally purchase for a delivery business. So there are now insurers who specialise specifically in more complex insurance policys, they are experts ...
Visit Hgv Courier Insurance...

Jet Ski Insurance - Jet Ski Insurance
...nce have been with us for some time now in the UK and there are many makes and models that frequent numerous Jet Ski Insurance water centres. Taking to the wet stuff on your powerful jet ski will be ...
Visit Jet Ski Insurance...

Marina Insurance - Marina Insurance
...ber of different policy wordings from a variety of companies, this is a guide is to help you decide what sort of policy would suit you more and give you the exact cover you need. You have to look for ...
Visit Marina Insurance...

Courier Insurance - Courier Insurance
...ant. Losing such document or parcels can mean huge losses for some people. Therefore,Courier Insurance has become an important consideration for any one using mailing services. It is not uncommon for ...
Visit Courier Insurance...

Loading Bay Equipment - Loading Bay Equipment
...his equipment, you are able to load and unload all your merchandise with great ease and efficiency. We provide high quality equipment which is cost effective as well. We implement all possible safety ...
Visit Loading Bay Equipment...

Gap Insurance - Gap Insurance
...s? I know that I had never heard about this type of insurance before until it was brought to my attention recently. The gap insurance covers the deprecation on a car in the event of it being stolen ...
Visit Gap Insurance...

Mis-sold Ppi - Mis-sold Ppi
... late 1990s to enquire about a loan for a new car. I`d fell in love with this slinky, silver sports car and being a single male at the time, with plenty of disposable income, I thought I`d treat myse...
Visit Mis-sold Ppi...

Ppi Claims - Ppi Claims
...he time you felt pressured into taking out payment protection insurance on your loan. The representative from the bank seemed to bamboozle you with facts and figures and to be honest; you didn`t quit...
Visit Ppi Claims...

Car Gap Insurance - Car Gap Insurance
...uppose unless you buy a car on finance you might not know about such policies. As I understand it the car gap insurance covers you in the event of a car being stolen and never recovered or one that i...
Visit Car Gap Insurance...


Click For More Detailed Information on:

Home  |  About Us  |  Contact Us  |  Articles  |  Special Reports  |  Links  |  Site Map

Copyright © 2003-2010. All Rights Reserved.


Valid CSS!