Comprehensive insurance

Third-party insurance

Covers both the policyholder's own vehicle and third-party liabilities

Only covers third-party liabilities

Provides more extensive coverage

Provides narrow coverage

Typically more expensive

Less expensive than comprehensive insurance

Involve a process of filing a claim to receive coverage

Involve a process of filing a claim to receive coverage

Comprehensive insurance may provide coverage for damages from natural disasters

Third-party insurance does not provide coverage for damages from natural disasters