Which type of car insurance is best for you?

Remember it’s a legal requirement to have car insurance in place before you head out on the roads. But there are a variety of policies available – so which is the best one for you? Each one comes with different benefits, read on to find out more:

Third party insurance

Take out third party insurance, and you can be assured that you’re meeting the minimum legal requirements for driving in the UK. You’ll be covered for damage caused to third parties whether they are pedestrians, other drivers or damage caused to someone else’s property. So you’ll be covered for such things as medical or legal expenses, repair or damages that would need to be paid if you are seen as at fault when involved in an accident.

Here, it’s important to understand the limitations of this policy, for you wouldn’t be covered for any damage to your vehicle, only other people’s (third parties). However, a third party policy could be appropriate if you don’t cover many miles each year, have a low-value vehicle, or you live in an area where crime or weather conditions could send your premiums sky high.

Third party, Fire and Theft          

Another option to consider is third party insurance with additional cover for fire and theft, meaning you’d be protected if your car was stolen or suffered damage as a result of a fire. Remember the cover is still limited and won’t cover damage to your car caused by vandalism or a road traffic accident. So you’ll still be responsible for the cost of repairing your car in almost all cases.

Full comprehensive

Fully comprehensive cover, as you would expect, insures you for more eventualities than third party policies. However, don’t assume that fully comprehensive cover will cost you more, just because it covers more. Remember that the insurance business is based on trust and that as a driver taking out a fully comprehensive policy, you’ll be seen as more responsible and hence a less risky driver too. So ‘fully comp’ cover could potentially cover you for more and cost you less – a win-win situation all round. Just be certain what your policy includes and see if there are any add-ons you’d like included.

Multi car insurance

If you or your family own more than one car, you might find that a multi car insurance policy would suit you best. As the name suggests, with a multi car policy you can insure more than one vehicle on a single policy. In fact, some such policies will allow you to cover as many as five or even ten vehicles, proving very cost-effective. You’ll save in other ways too, streamline your processes, saving you time and paperwork too.

What you might not be aware of is that some policies cover drivers who are not living at the same address. So if you have children or a partner living away from home, it could be the right choice. Also, the policy holders don’t even need to be related, so you could cover flatmates, friends or colleagues with such a policy, potentially saving you all money but providing the insurance you require.

What’s more, the vehicles don’t need to be in the same insurance category or even of the same type, so that you could include different cars (luxury, classic, family models), vans and motorbikes. There are some factors that will affect the cost of your policy, including the make, model, year, engine size and mileage of the vehicles to be included, the age of the drivers, their experience and claims history. So there are a lot of factors to be taken into account. However, these policies can prove exceptionally cost-effective.

Temporary car insurance

Short or temporary car insurance can be extremely helpful in certain circumstances. Typically such insurance runs from one day right up to twenty-eight days and is a good insurance solution if you’re borrowing a car for a few days. It might be you’re heading off on holiday for a short time, taking a student to or from university, moving house or simply visiting a relation.

There are other circumstances too when a temporary car insurance could benefit you. If you have a classic car, you drive on occasional weekends or are borrowing a courtesy or work car for a few days; temporary insurance could be the right choice. It’s worth exploring too if you are learning to drive – though some policies prohibit drivers with less than six months experience.

Temporary car insurance is extremely versatile, especially if you’re not driving your usual vehicle, if someone is borrowing your car or if you are in the process of selling your car, so look into it today. Also, consider taking out temporary car insurance, while you are sorting out the best long term car insurance for your vehicle.

So as you can see, there is a huge variety of policies available; the key is to find the right one for you and your car. Speak to an experienced insurance broker and not only will you benefit from their expertise, but you’re likely to have access to tailored policies that are not available on price comparison sites.

Andy

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