Third Party fire and theft
Third Party, fire and theft is an insurance type available in South Africa. Comprehensive insurance provides the best cover and is therefore also the most expensive. Third party, fire and theft is a cheaper option and if you drive a rather old car you could consider this as an alternative to comprehensive cover.
This policy will cover you for theft or carjacking, fire damage and claims from third parties should you be involved in an accident. However, you have no cover for accident damage to your own car – you become your own insurer against this particular risk. This option of insurance could be viable if you drive a fully paid-up, old car that has a very low book value. It is not an option if you still owe money on your car, then comprehensive cover is a requirement.
Without third party cover you run the risk of huge liability claims against you. Your car may not be worth much but if you damage another expensive car you will be held liable for the damage, it’s simply not worth taking the risk to be without this cover.
You could take out third party insurance only but the additional cover for fire and theft will not make a huge difference in the price and it does provide you with that additional cover.