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Third Party Car Insurance

The lowest type of car insurance which you can legally get away with is third party insurance; this is insurance that protects other road users against injuries or accidents which may occur because of your fault but it does not protect you in the same circumstances. Third party insurance essentially means that, if you are involved in an incident or an accident whilst on the road and it is your fault then your insurance will pay out for any damages to the other person who has been involved in the incident; however, if your own car has sustained any damage during the incident or you yourself need any medical attention then this will not be covered under third party insurance- it is literarily there to protect other road users when you yourself are on the road.

Paying out for third party insurance might seem like a good idea at first, after all you will be paying much less money out and thus you will probably be quids in for a while. However, if something were to sadly go wrong when you are on the road, and nearly every road user will be involved in at least a minor accident whilst they drive, you will end up paying out much more further down the line. Would you be able to afford for large-scale repairs to your car without insurance payouts to help you? These are the types of questions which you need to consider in order to determine whether you will actually be saving yourself any money, in the long term, by opting to go for third party insurance.

Third Party Fire & Theft

The next type of insurance you can get, the next step up the proverbial ladder, is third party fire and theft insurance. This gives you the same cover, as the name most likely implies, as third party insurance does, but it also covers fire and theft. So, you can cover yourself in case your car, or contents from your car are stolen and in case your car is caught on fire; however, these are the only circumstances under which you can make a claim. Again, if your own car is damaged in an accident, or you yourself receive any injuries then you cannot make any claims for this on your insurance; only other drivers involved in an accident with you can claim off your insurance.

They can benefit from it but, if an accident were to take place, you yourself could not. This is clearly something which you must thus take into consideration when you try to decide whether or not you really want third party fire and theft insurance. It is more expensive than mere third party insurance but you would still be saving quite a bit of money than if you were to opt for fully comprehensive insurance; whether or not you will be saving money in the long term is another thing altogether though.

Comprehensive Car Insurance

Comprehensive insurance is the type of car insurance which you are all probably most familiar with. It covers everything, third party road users, fire, theft and it also means that, if you are in an accident, you can claim for damage which may be inflicted upon your car, or indeed yourself as well. Fully comprehensive insurance is, of course, much more expensive than the alternatives but it means that you may well be able to save yourself some money in the long term. If you are ever in a bad accident, fully comprehensive insurance will ensure that you don’t have a large financial payout as well as a long emotional recovery to make.

There are other optional extras which can be negotiated with individual policies, such as the use of a hire car whilst yours is being mended, or specific contents insurance for specific items which are always in your car. Such extras are available on many different policies but they are not universal and thus you must read any agreement which you sign carefully in order to ensure that you are fully aware about what you are signing up for. Car insurance can be an annoying expense but it is better to pay more now to save yourself money later.