Car Insurance Explained
17 July 2008
If you drive a car on Britain's roads you are required by law to have a minimum third party car insurance. Anyone who takes out car insurance should also have a basic understanding of the insurance cover they have taken out as they may not be covered properly under certain circumstances, so make sure you read any terms & conditions supplied by the insurance company. Third party car insurance is usually the entry level for car insurance & usually the cheapest but this can have its drawbacks
as if you were to have a crash the insurance would only pay for repairs to the other party's vehicle & any injuries they may have should the accident be your fault. Third Party fire & theft car insurance covers everything above & also covers you if your car is stolen or bursts into flames.
The highest rate of car insurance is usually Comprehensive car insurance and this covers everything previously mentioned & more, you will also usually be given a courtesy car should your vehicle be involved in an accident whether it be your fault or not.
This is not meant to be a comprehensive explanation of Car insurance policies but a guide to the basic differences, it is up to you to do your own research and find out as much as you possibly can about the various car insurance policies so you have a better insight as to which policy would be suitable for your needs.
Most car insurance policies now have a excess which basically helps to stop policy holders from taking advantage of the insurance companies, the excess amount on your car insurance is the amount you will have to pay out of your own pocket should any claims be made as the result of an accident or your vehicle is lost due to theft or fire. Usually the more you are prepared to pay as an "excess" the lower your car insurance premium will be, check this out with the insurance company.
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