There are a number of different car insurance policies available on the market and it can be difficult to find the one best suited to your needs. Add to this the ever increasing number of insurance providers, and a whole host of deals and special offers, it’s no wonder that choosing the right car insurance policy can be at times quite baffling!
There are three different levels of cover designed to suit your particular circumstances. These levels of cover are: third party, third party fire and theft and fully comprehensive.
Third party car insurance is the minimum level of cover required to legally drive on the public highway. This type of policy offers very basic cover paying for damage caused whilst driving to another person’s property, or paying costs or compensation related to any injuries that are sustained in an accident that is found to be the fault of the insured driver. Put simply, third party car insurance will pay out if you caused an accident and this resulted in damage or injury to another driver or their passenger.
Third party car insurance is best suited to someone who drives a car that has little monetary value as it does not cover the cost of any repairs to your own vehicle. In addition, if your vehicle were to be stolen, or damaged by fire, then you would have to pay for any repairs, or for a replacement of your vehicle out of your own pocket.
In general, as third party car insurance is usually considerably cheaper than other policies on offer, many motorists tend to choose this type of cover in order to keep premiums as low as possible. This often applies to younger, and to newly qualified drivers who can find the cost of car insurance to be extremely high. However, unfortunately, statistics have shown that younger drivers are more likely to experience an accident whilst driving and as a result many insurance providers have increased the cost of this type of policy as claims are more likely. This has led to some third party car insurance policies becoming more expensive than other alternatives so it is worth investigating all types of insurance policies before you make your final decision.
One step up with regard to the level of cover you receive is third party fire and theft car insurance. As the title suggests this type of motoring policy provides the same level of cover offered by third party policies but it also covers you in the event that your vehicle is stolen or damaged by fire.
If your vehicle is worth a relatively small amount then third party fire and theft car insurance could be best suited to your needs. It often works out to be less expensive than fully comprehensive cover, but again it is wise to research the market thoroughly as premiums are based upon a number of different factors which include the model and make of car, and whether any safety features are installed.
Fully comprehensive car insurance offers you the highest level of protection. It covers you against damage to your own vehicle in addition to damage caused to others by a number of causes including fire, theft and accidents. The level of cover offered is greater than third party car insurance and third party fire and theft insurance.
A fully comprehensive motoring policy can vary enormously in what it offers to drivers. For example, some policies will cover you to drive outside of the UK, and some will cover you to drive another vehicle. Providers of comprehensive car insurance policies often offer breakdown insurance as an add-on to your standard policy. It may be worth researching the cost of purchasing this type of benefit as a stand-alone policy from another provider as it may very well be cheaper.
In addition, many policies offer features such as cover for legal expenses, courtesy cars when needed and breakdown cover. Sometimes these features are automatically included in the policy, or alternatively they are available as add-ons. Consider carefully whether you would make good use of any additional features that are offered to you at an extra cost. It is vital that you read very carefully the terms and conditions of the policy before signing up in order to secure car insurance that is tailor made to meet your requirements and to fit in with your budget.
Car insurance policies vary greatly in the level of cover, and the features and benefits they offer. The Internet is a great place to start when researching car insurance providers. Comparison sites give you an opportunity to look at a multitude of insurers, to compare prices and the features and benefits that each one has to offer. This can save you a great deal of money, although do remember that not all companies are featured on these types of sites so it may well be useful to ask friends and family for recommendations with regard to insurance providers in order to secure the very best deal. Also remember to compare different types of cover, third party, third party fire and theft, and fully comprehensive, as the policy that offers the lowest level of cover may not necessarily be the cheapest.