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3 Types Of Car Insurance |
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Before you get a car insurance quote the general consensus is that you should really
think hard about the level cover you need? There are three main types of car insurance cover offered by the majority of insurance
companies and they are:
Third Party Only Insurance
Third Party car insurance is a legal requirement in the UK. It will cover loss or damage to other people and property.
Third Party car insurance does not cover any personal losses you might incur as result of an accident, incident or other
occurrence which could result in you making a claim or having a claim against you.
If your car is not worth much you might not be necessary for you to consider having more than Third Party Only cover. Normally ULR
or legal protection can be purchased for a nominal fee of around £25 and covers legal costs for recovering losses from third
parties who have damaged your vehicle. Fire and Theft cover often makes little difference to your premium.
It may not be well know as yet, but the number of insurance companies who offer Third Party only car insurance policies so it is
essential to check third party fire and theft as well. You may find that TPFT cover is cheaper than TPO cover so make sure that you
get more than one quote and the quotes cover the full range of policy types. The most important thing to remember is that the levels
of cover you decide to choose is in fact best for you.
Third Party Fire and Theft
This is a step up from basic third party insurance and provides protection for the insured vehicle as well as the third party. You will be insured for any losses that occur due to incidents of fire and theft.
Fully Comprehensive
Comprehensive cover is the fullest level of cover that you can get and it basically gives you ‘all risks’ protection. You will be covered for things such as accidental and windscreen damage, personal belongings and audio equipments. Refer to your policy to see exactly how far your cover extends.
Things to Consider:
When choosing car insurance cover don't always take a lesser cover such as third party to save a couple of hundred pound. At the same time, don't take out fully comprehensive cover unless it is really required. The best idea is to look at your excess, how much the policy is for the different levels and work out which one will offer the best value and protection in the event of an accident, fire or theft.
Driving Other Cars May Not Be Included:
It is an urban myth that all Fully Comprehensive Car Insurance Policies actually cover the persons named in the policy to drive other peoples cars. Although in many cases this is true to an extend, you see most Fully Comprehensive Policies extend Third Party Only Cover to the named drivers when they drive another persons car. This means that the second you drive another car you take a great risk with your savings as it were! As the insurer will not repair the car you borrowed, you will need to pay for the repairs yourself! Can you afford to take that chance? Lastly the reason that this cover is still in place albeit not to the level you may have thought is that it was initially included in Fully Comprehensive Policies by the insurers for a temporary emergency cover, but as the years have gone by many motorists flaunted this privile and as a result it is less common and stringent terms and conditions are now applied around this. Find out why your insurance policy may no longer cover you to driver other cars.
Car Insurance Extras:
There are many additional products / features which can and often are added to your car insurance. Some of these include features like free or subsidised legal expenses, free 7 days courtesy cars, driving abroad for a certain period as standard and many more policy additions. Many womans only insurers are offering additional benefits with their womans only car insurance policies including free handbag contents insurance and discounts for adding their spouses to their policies as additional drivers.
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