Types of Car Insurance Cover
There are three types of cover for car insurance and the choice of which to take out will depend on various factors. For the majority of young drivers, the cost of their insurance cover will be a major consideration. Motorists looking for all round protection will probably choose comprehensive insurance, but third party and third part fire and theft are available.
Third Party
Third party insurance is the minimum legal requirement for a motorist to have. It provides a driver with a level of insurance that covers anyone who is injured in an accident caused by the driver, whether they are the driver or the passengers of another car, individuals not in a vehicle who may be hurt, or passengers in the driver’s vehicle. The insurance will provide compensation to all these individuals but it will not cover the costs that a driver will incur due to the accident. When considering taking out this level of insurance, a motorist must weigh up the pros and cons before deciding if it is the right form of protection for their needs.
Third Party Fire and Theft
This insurance provides the same coverage as third party cover but offers the additional benefit of cover in the event that a vehicle is stolen, damaged or destroyed by fire. The technological developments in car security over the years has made it more difficult for newer cars to be stolen, although it is advisable for all motorists to ensure that their vehicle is locked when unattended and the steering lock engaged. Older cars are easier to break into and steal and so this cover is useful for owners of older vehicles. Insurers may also ask about the location in which a car is to be kept as this can influence the cost of insurance premiums.
Comprehensive
A comprehensive policy covers for any eventuality, even if an accident or incident is the fault of the vehicle driver. As well as the benefits of third party and third party fire and theft cover, the policy covers the costs incurred through accident damage.
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