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Get The Best Car Insurance Deals Now! What Type Of Car Insurance Do You Need?
July 10, 2013 //In most countries it is illegal to drive your vehicle on the road without vehicle insurance, therefore if you wish to own a vehicle, car insurance is something that you will have to look into and you cannot escape. When it comes to choosing your car insurance there are three types that you can choose to cover your vehicle. The first is Third party only which the most basic level of insurance, the next one is Third party fire and theft and then the next one up comprehensive is the type that gives you the most cover out of the three.
It is your choice which one you choose, but it is important that you understand what each type of insurance entails before you make your decision or else you could end up paying for a type of insurance that does not suit you and is costing you more than you can afford.
The first type of car insurance mentioned was Third party car insurance. This is the most basic level of vechicle insurance which you are legally required to have before you can take your car onto the roads. Accidents are common on the roads of today, there were in total in 2011 203,950 road accidents in the UK, therefore the government requires you to have at least a basic level of coverage on your vehicle. Third party insurance, if you cause an accident Third party insurance pays compensation to a third party in other words someone that owns the property that is damaged by the accident, or a person who has been injured in that accident. You may be asking, but why do I need insurance and thinking, I would rather just pay off the compensation myself. Well think about, it is essential to have insurance as the compensation you will pay after the accident can easily run into thousands or millions of pounds. For example, the cost of replacing a car, repairing a house or property or even to help someone rebuild their life if they have been seriously damaged and lost a limb or worse still if someone in that car was killed; it is very unlikely that you will be able to compensation at this high cost. If you are properly insured the insurance company that you chose will take care of it up to the limit of your vehicle insurance policy.
NewsThird Party, Fire and Theft Insurance
July 10, 2012 //Furthermore it is important when choosing which insurance company to deal with that you do some research. As due to an increasingly competitive financial market many insurance companies offer special deals, for example even though Third party car insurance is the most basic level of insurance and therefore the cheapest some companies will give you more than the minimum, they may include; free European cover or a free courtesy car and if you struggle with payments some companies even offer flexible payment options. So often if you take your time in choosing your insurance company you will find you get value for money.
The next level up from Third Party is Third party fire and theft. What you get from this level of auto insurance is pretty self explanatory. Third party fire and theft, includes everything that you get with Third party insurance, plus it compensates you if your car is caught in a fire and destroyed of if it is stolen or damaged by theft. Moreover something to be aware of this that Third party, fire and theft will not pay out for any other sort of damage done to your vehicle. Considering that the cost of having your car repaired and reinstated to the road after a crash could add up to thousands of pounds, it is often worth thinking about getting the next level up even for Third party, fire and theft, this type of auto insurance is call comprehensive.
NewsFully Comprehensive Car Insurance
July 10, 2012 //Comprehensive car insurance includes all of the coverage that you get from Third party, fire and theft and on top of this it pays for the cost of repairing your car if it is damaged in any way in an accident. If you have a car that is quite old and it is damaged your insurance company will assess and inspect the damage done to that car and work out what it would cost to repair, but only so it is repaired back to the condition that the car was before it was damaged. If they work out that the repairs will cost less that the car is actually currently worth, then the repairs will be given the go ahead by your insurance company and they will get the car back to you as soon as possible all fixed and ready to drive.
With comprehensive insurance, if the costs of repair to you vehicle is more than the vehicle is currently worth, then your vehicle will become what is called, ‘written off’ and the company will pay you its market value instead. Another thing to be aware of is that if the vehicle you are insuring is financed by hire purchase or a leasing company, it may be required that you have comprehensive insurance rather than any other basic level of auto insurance.
Furthermore as said before, the increasingly competitive financial market means that depending on the company that you choose, there often special deals and advantages with certain companies. For example some Insurance companies, when you take out comprehensive vehicle insurance with them offer, a free courtesy car, or maybe named driver no claims bonus or even free windscreen, stereo or sat nav repairs and sometimes even personal injury cover. Therefore as said before one of the most important things to remember when taking out car insurance is do your research and ensure you are getting value for money!