What is the legal name for full coverage?

What is the legal name for full coverage?

Comprehensive insurance, which covers certain damages to your vehicle that are not caused by a collision with another car (for instance, accidents related to weather, theft, fire and more).

Which insurance is best third party or comprehensive?

Key DifferencesThird-Party Insurance Premium Price Cheaper than the comprehensive insurance and the rates are pre-determined by IRDAI. Which one should you buy? If you are driving an old car or you drive your car very less the best option to go for is a third-party cover and pay low premiums. 5 more rows

Is third party better than comprehensive?

Value of the car: If value of your car is low, it is better to take third-party motor insurance since repairs to damages caused can be managed cost-efficiently and easily. It is cheaper to pay for repairs when compared to paying the high premiums associated with comprehensive cover.