ESTA INSURANCE – Just a thought about your 3rd Party cover

[Esta Group]

ESTA INSURANCE – JUST A THOUGHT ABOUT YOUR THIRD PARTY COVER

As we all know the demise of the Turkish lira as had some consequences, both negative and positive on the financial lives of our people living here. Some see it as positive as they see the value of their pound sterling rise while others may sigh in exasperation as they see their interest rate values plummet. With the rate being so high, it also does mean that things are likely to increase on the island which means that the last thing you want is unexpected expenses.

One very important consequence of the depreciation of the tl is the value of the third party property protection for motor vehicles which stands now at 50 000 tl and has been this figure for many years. When the exchange rate was 2.5 tl to the pound then the stg equivalent was approximately 20000 GBP. Generally speaking this figure was adequate for most types of scenarios. Now that the exchange rate is almost 4 to the pound then this figure has been reduced to a value of circa 12000 GBP. To put this into perspective if you crash into a ford fiesta and write it off then this damage will cost around 16000 GBP. As only 12000 of this would be covered by the third party protection cover on your policy then you would be liable for the other 4000 GBP. If you were unfortunate enough to get into an accident with a more expensive vehicle, well it doesn’t really bear thinking about!...........

Why not talk to us at ESTA and we will give you some options with regards to increasing the level of your cover.

Better to be safe than sorry!

For more information please contact Esta on info@estainsurance.com or call our office on 0392 444 3782.