Chain smash in Japan

Chain crashes tend to be the most costly to society for obvious reasons, and there is nothing worse, financially at least, than a chain crash of expensive vehicles. In December 2011, a convoy of pricey sports cars collapsed like dominoes after the lead ferrari lost control of the vehicle. At the time, it was dubbed the world’s most expensive car crash as it involved a number of Ferraris.

Final Tally: $4 million or plus-minus R59 million in today’s currency.

Other Ferrari mishaps

Local Ferrari smash: On Monday, 10 July, A durban man totalled his Ferrari and was fighting for his life in hospital You Magazine and News 24 reported. Paramedics arrived at the scene to find a yellow Ferrari had overturned according to Crisis Medical spokesperson Neil Powell. He said further investigation revealed a 52-year-old-man trapped inside the vehicle.

An American in Paris: American billionaire Christopher Cox damaged his ‘62 Ferrari GTO at a Ferrari rally in France in 2012. Only 38 of these vehicles were built, making this a rare piece of automotive excellence worth upwards of 30 million dollars (R441 million). Both Cox and his wife were medically treated for minor injuries after another rally vehicle rear-ended them causing the smash.

Football star’s extreme ‘curler’:  Cristiano Ronaldo crashed his Ferrari into a roadside barrier in Manchester in 2009, but then hitched a lift with fellow player and goalkeeper Edwin van der Sar in order to make it in time for training. The sport’s car was registered in his home country of Portugal and is part of a fleet owned by Ronaldo. No injuries were reported but the car damage amounted to 300 000 dollars or plus-minus R4.58 million.

China’s supercar fail

Another of Asia’s costliest car crashes to date happened just last year when a drunk-driver totalled his Koenigsegg Agera, and then proceeded to hide his head in shame behind his clothing until the tow-truck operator arrived hours later.

Final Tally: 3.5 million dollars or plus-minus R51.5 million

Expensive celeb crash in Britain

You wouldn’t suspect Rowan Atkinson of Mr Bean fame to be a petrol head, but that he is with his McLaren F1 supercar making over £7 million in profit from a recent sale.

Final Tally: 1,17 million dollars or plus-minus R17 million rand

In 2011, Atkinson escaped with an injured shoulder after crashing his McLaren into a tree and road sign, before it caught fire in Cambridgeshire, England according to CNBC.

The post The Most Expensive Car Crash Reports Ever appeared first on Insurance Quotes 24.

We often realise far too late the parameters of our car insurance quotes, which can be a headache of unnecessary expenses.

Reviewing and analysing  car insurance quotes and your policy should be an annual occurrence, even more if your lifestyle changes. Certain lifestyle changes may include buying a house and having to adjust your home insurance (better security can be combined with car insurance) or growing your family (added expenses).

Make sure you’re covered with the right car insurance quote for you? Free Comparison Tool to Compare Insurance Quotes Online: Click Here. 

The importance of an annual review can quickly be realised when assessing the coverage you have taken out, which may need updating.

The 4 Main Types of Car Insurance Quotes:

1. Third Party Car Insurance 

This type of insurance is the most inexpensive as it provides the least amount of coverage. Third Party insurance essentially means that if you bump into another car, your insurance provider will take care of their repair expenses, while you have to pay for your own (without the help of the insurer).

What 3rd Party Car Insurance Quotes Do Not Cover

Third Party insurance does not cover your loss if you have an accident. If the accident was not your fault, you can claim against the other party.

How Is a Car Insurance Claim Determined?

In cases where the blame of the accident is not entirely in the hands of one party, an insurer will apply the principles of Apportionment of Damages (see below) and will pay out accordingly.

Chapter 1 of Contributory Negligence of Apportionment of Damages Act 34 of 1956, reads:

(a) Where any person suffers damage which is caused partly by his own fault and partly by the fault of any other person, a claim in respect of that damage shall not be defeated by reason of the fault of the claimant but the damages recoverable in respect thereof shall be reduced by the court to such extent as the court may deem just and equitable having regard to the degree in which the claimant was at fault in relation to the damage.

(b) Damage shall for the purpose of paragraph (a) be regarded as having been caused by a person’s fault notwithstanding the fact that another person had an opportunity of avoiding the consequences thereof and negligently failed to do so. The apportionment of the damages will indicate the amount of damages payable in relation to the amount of fault rests on each of the two parties.

This, essentially, means if both parties were of contributory negligence to the accident whereby one party had the chance to evade the damage, a portion of the guilt will also fall on their shoulders.

Make sure you are covered with the right car insurance for you? Compare quotes for FREE online here today

2. Road Accident Fund (RAF)

This will cover any personal harm endured by a third party, but not damage to the car (this will be covered by your insurer).

Needing third party insurance? Compare quotes for FREE here today: Click Here. 

3. Third Party, Fire and Theft Insurance 

Now we are getting somewhere. Third Party, Fire and Theft provides cover for the other party (as mentioned above) or if your car is damaged as a direct result of fire, explosion, lightning, attempted theft, or if your car is stolen.

This insurance policy also covers any damages to a third party, or their car, in the event of an accident.

NOTE: The most an insurer will pay out is the value of the car as stated on the schedule.

What 3rd Party Fire & Theft Car Insurance Does Not Cover

• No licence while driving
• Endorsed licence while driving
• Invalid licence while driving
• Driving under the influence of drugs or alcohol
• Reckless driving
• Unroadworthy car
• Unauthorised use of vehicle
• Keys left in and / or on the car
• Leaving the scene of an accident
• Using car for commercial purposes or for racing

When Is It Advisable To Have Third Party Or Third Party, Fire And Theft Insurance?

These types of insurance policies are perfect under the following circumstances:

• You have an older, low-value vehicle, and it is paid off
• You don’t drive the car very often or very far

If you have relatively little use out of your vehicle and it is completely paid off, a Third Party or Third Party, Fire and Theft insurance policy may make sense.

Is third party, fire and theft the way for you? Get the right quote for you here!

4. Comprehensive Car Insurance

The most preferable of all three of the insurance types, especially for car insurance quotes. This insurance policy gives you the best of both worlds. Comprehensive covers everything Third Party, Fire and Theft does as well as your own car repairs and medical damages.

Your car will also be replaced if it is written off in an accident. Emergency accommodation and petrol will also be provided should you break down far from help.

This type of insurance policy may differ from provider to provider in terms of benefits.

What Comprehensive Care Insurance Quotes Do Not Cover

• No licence while driving
• Endorsed licence while driving
• Invalid licence while driving
• Driving under the influence of drugs or alcohol
• Reckless driving
• Unroadworthy car
• Unauthorised use of vehicle
• Keys left in and / or on the car
• Leaving the scene of an accident
• Using car for commercial purposes or for racing

Additional benefits can also be added to your policy. Always ensure your policy provides cover for your sound system, windscreen, canopy, and / or any specific add-on extras.

Make sure you have full comprehensive car insurance! Compare car insurance quotes for FREE online here. 

For a history on car insurance and car insurance quotes, see this Wikipedia article. 

The post 4 Types of Car Insurance Quotes Explained (A Complete Guide for Beginners) appeared first on Insurance Quotes 24.