UK Third Party Car Insurance
Legally, all drivers must have insurance cover for their vehicles. Third party car insurance is the minimum cover required and as such, it's the cheapest and most basic. It lets drivers have car cover while keeping costs low. Drivers should still research online to find the best value policy.
Third Party Only Cover
Third party only insurance covers damage to other drivers and their property; it does not cover the motorist's own car damage or personal injury. This type of insurance is meant to protect others from harm. Since it's quite basic, it's often very cheap and doesn't come with many extra features. Such policies are best for new drivers who have no driving history and those with cars worth very little where a comprehensive policy would be more expensive than the car. Some insurers only allow third party cover on cars worth less than £5000; some don't offer it at all. Many new drivers have third party cover for old vehicles and since new drivers get into more accidents, third party cover has more claims lodged against it than other types of insurance. But while it is the cheapest type of policy, it can be falsely economical; in the event of an accident, the cost of one's injuries and car repairs might dwarf the money saved per month.
Third Party Theft and Fire
Since third party only cover doesn't protect one's car against theft or fire, insurers also offer third party theft and fire policies. These protect one's car against damage from fire, theft and attempted theft. Sometimes they cover theft of property inside the car, such as car accessories or audio equipment, usually up to a specified monetary limit. These policies may also have some provision for legal expenses. Many times there is a limit on how much the car is worth and insurers may not allow drivers under age 25 to be on the policy. Some insurers' third party theft and fire policies may well be cheaper than third party only insurance since they believe the latter is too basic.
Online Research and Value
Shopping around is essential, even with cheap third party only cover. The Internet is essential for researching insurance, as drivers will be able to compare quotes, thus saving money and getting more benefits. Many web sites offer quotes from several insurers at once. While using such sites, drivers should be sure to compare like to like and to take note of the exclusions and limitations in the small print. Finally, drivers should realise that cost is not the final factor. They should be looking for the best benefits for their money, or the best value. There may be few differences between basic third party policies, but drivers should shop around simply to be sure.
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