A Quick Guide To The Types Of Car Insurance Available
It is a fact that if you drive a car then you have to have car insurance. It is a legal requirement, which is why many of us look for different car insurance quotes every year around renewal time. However, you would not believe how many people have not examined all of their options and do not know exactly what is covered on their car insurance policies. There are millions in the UK alone, and this is largely because they do not know the difference between the three types of car insurance available.
The three types of car insurance quotes available to you are fully comprehensive, third party and third party fire and theft. All insurers offer you all three of those options but there are vast differences between them. This is good because it gives you the choice of coverage but it can confuse you so let us set the record straight!
Third party car insurance is the loosest insurance type out there because it literally covers you for the damage or injury that is caused by you to another car or person. Although it does cover your passengers, it does not cover you or your car in the event of an accident or theft. You can still claim for your car from someone else?s insurance if they are responsible but not your own.
Third party fire and theft has the same basis as third party insurance but it will also cover you in the event that your car is stolen or set on fire, whether through an accident or through vandalism. However, it will not cover you for damage to you or your car if you cause an accident.
Fully comprehensive car insurance quotes cover the most elements out of the three. It covers accidental damage, damage to your car, personal accident benefit, your medical expenses, personal possessions damage and all of the same elements as third party fire and theft. That is why it is called comprehensive insurance.
It is wise to obtain car insurance quotes for all of the above to compare policies if you do not know what option will suit you or your needs. However, the type you choose will determine how much you are to pay because there is a gulf between the three types. So much so that you may not be able to afford the type you actually want.
Fully comprehensive car insurance is easily the most expensive because of the sheer amount of elements it covers. Mrs Cooper is a prime example of that. She obtained a range of car insurance quotes for a Vauxhall Corsa and found that there was 173 pounds between the cheapest third party and the cheapest fully comprehensive insurance options.
173 pounds is a huge sum when you think about the impact it would have on your monthly premiums. It can price some people out of the affordable range. Whether you know what type of insurance you want or not, it certainly pays to work out your budget and look around.