When taking out car insurance, drivers are given options on how much coverage they want for the car. Based on the value of the car, the money drivers can afford to pay, as well as the area and the conditions under which the car will be running, the type of policy is chosen.
Third Party Insurance Quote
Third party insurance is the very minimum that the law asks of you in the UK. It turns out to be the cheapest that allows the driver to fulfill their legal obligations on the road. Third Party Insurance covers your liability for injury to others (including passengers in the car), damage to any property and liability when you are towing caravans or trailers. It will not cover accidental damage to your car. If you have an accident you will have to meet the cost of repairing it yourself. You can make a claim on the other person’s insurance policy if it is proved they were legally liable for the damage.
If your car is new or you have a lot invested in it, it is termed a valuable asset and Third Party Insurance will not be enough to protect this asset. If the car was stolen, Third Party Insurance would not cover the cost of replacing it.
Third Party Fire and Theft Insurance
This is similar to Third Party Insurance, but it has two very distinct advantages in that the insurance covers you for the loss of your car through fire or from theft. The rest of the coverage is exactly the same as plain Third Party. It is cheap and a popular option, especially with young drivers.
Fully Comprehensive Insurance Quote
The name of this type of policy is a tad misleading. There exist certain exclusions in the policy so technically, it is not 'fully comprehensive'. The policy covers everything same as Third Party Fire and Theft plus Accidental Damage. Accidental damage is damage to the vehicle, which includes malicious damage and windscreen damage. Cars over £5,000 must have comprehensive coverage. These policies may include extra benefits such as personal accident coverage, breakdown coverage and legal expenses. |
