What is the difference between short term and long term insurance?

What is the difference between short term and long term insurance?

The main difference between short-term and long-term car insurance is the length of time for which the policy provides coverage. Short term policies typically offer coverage ranging from one day to a few weeks or months and are designed to provide insurance for a specific, short period resulting in less costly charges. In contrast, traditional long term car insurance policies offer cover for a fixed twelve months, designed to provide continuous coverage for the year. It is the most common type of car insurance policy, requiring payment of an annual premium that’s renewable yearly. In addition, the coverage level offered by short and long term car insurance policies can also differ, with long term policies typically offering more coverage options, such as third-party liability and third-party fire and theft.