Car Insurance Guide
Car insurance is compulsory if you wish to drive on the roads in the United Kingdom, some of us see car insurance as an expensive monthly direct debit we could do without. However the importance of car insurance should not be underestimated.
Why is car insurance so important?
If you were to have an accident while out in your car or if your car was to become damaged, how would you pay for the repair bills to get you back on the road as soon as possible? Having insurance could give you the cover you need to pay mechanical repair bills, courtesy cars and replacement parts. You can also add optional extras to car insurance so you have cover against breakdown and legal costs to name a few.
The different types of car insurance
There are 3 main types of car insurance you can purchase, these are third party, third party fire and theft and fully comprehensive.
Third Party Car Insurance
Third party cover is a basic type of cover available for your car insurance which protects you for damage made to another person’s vehicle or property in the event of a claim. It does not however cover you for damage made to your own vehicle. Third party policies are particularly popular with younger drivers who cannot afford a comprehensive policy and in the instance when the value of the car insured is low.
Third Party Fire and Theft Car Insurance
Third party fire and theft is a third party policy, with the added cover for damage to your vehicle from fire or theft.
With both third party and third party fire and theft you can add optional extras to your policy.
Comprehensive Car Insurance
Comprehensive car insurance will insure you for damage to your own vehicle regardless of who was at fault. Every policy is different and insurers will offer different levels of cover, make sure you check the terms and conditions before you buy.
What to look for when buying your policy
It is important to always read the small print when buying your car insurance policy to make sure no hidden charges are included. You may want to compare prices with optional extras like breakdown cover. Some policies may include them as standard but may have exceptions.
Be aware of what your car insurance policy covers you for and make sure that it suits your needs, if you get a price on a third party only, it may not have particular features on your policy that you need.
The higher the voluntary excess amount you set, the lower the price your monthly premium is likely to be. Although in principle this sounds good, remember that if you have an accident, your excess is the amount you will need to pay, including the excess set by the provider. An excess is not applicable to third party cover.
How do you save money on your car insurance?
Lots of different variables can affect the price of your car insurance, from your age, where you live, the amount of miles you drive and where you park your car at night.
The more miles you drive, the more your car insurance is likely to be, if you are a new driver this can significantly increase your premium, if you park your car in a garage, the amount you pay could go down. If you have a no claims discount, you could save more and if your car is fitted with security devices, this could bring the price down further.
One of the best ways to save money on your car insurance is to shop around and that’s where we come in.
We here at comparethemarket.com know the importance to saving money that is why we are constantly updating and researching the market for you to bring you today’s competitive prices on car insurance.
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