Everything you need to know about third party insurance
Every UK driver needs car insurance – that’s the law. But with different levels of cover available, it’s not always easy deciding which is most suitable for you. Third party car insurance offers the minimum cover. Here we look at the pros and cons, and more importantly, whether it’s the right option for you.
Frequently asked questions
What does third party insurance cover?
Third party is the most limited option, covering you for damage to another person’s car or injury to someone else (which includes your own passengers). If the accident is your fault, you won’t be covered for your own injuries or any damage to your car.
What is third party fire and theft?
Third party fire and theft insurance offers the same cover as third party insurance, but also covers you if your car is stolen or damaged by fire.
What are the benefits of third party cover?
The main advantage of third party insurance is that it can be more affordable than a comprehensive policy. Which is good news if you’re on a budget.
Third party insurance could work for you if your car isn’t worth much. But the cost of your insurance depends on lots of other factors, such as the area you live in or whether you have any no claims bonus.
Is third party insurance always the cheapest?
No. People often assume third party insurance will be the cheapest as it offers the least cover. But that isn’t always the case.
The cost of your premium will depend on your personal circumstances. For example, how old you are and where you live. It will depend on the make and model of your car, what insurance group it’s in, how much it’s worth, and how many miles a year you drive.
Why are third party policies often more expensive than comprehensive policies?
Insurance providers assume that people who take out third party policies are more likely to make a claim, which is why they often charge them more.
So, what are the average costs of the insurance options?
We can tell you how much third party insurance costs our customers, on average. Based on our latest data, 50% could achieve a quote of £1,743^. For third party fire and theft, 50% of people could achieve a quote of £987^. But for a fully comprehensive policy, 50% of people could pay £692^.
So always compare, because you could get more cover for less money.
^50% of people could achieve a quote of £692 for their fully comprehensive car insurance, £987 for third party, fire and theft insurance and £1,743 for third party insurance. Based on Compare the Market data in May 2018.
Why compare third party insurance with Compare the Market?
We independently compare third party car insurance deals from more than 90 of the UK’s most trusted insurance providers. We’ll show you policies based on price, add-ons or payment terms, helping you compare policies based on your needs.