It is a fact that if you drive a car then you have to have car insurance. It is a legal requirement, which is why many of us look for different car insurance quotes every year around renewal time. However, you would not believe how many people have not examined all of their options and do not know exactly what is covered on their car insurance policies. There are millions in the UK alone, and this is largely because they do not know the difference between the three types of car insurance available.
The three types of car insurance quotes available to you are fully comprehensive, third party and third party fire and theft. All insurers offer you all three of those options but there are vast differences between them. This is good because it gives you the choice of coverage but it can confuse you so let us set the record straight!
Third party car insurance is the lowest level of car insurance that you can get. It will literally only cover third parties, meaning that it will pay out for damage you do to other cars and people if you are involved in an accident. However, it will not cover any injury you sustain or damage you do to your car. If someone else is responsible for the accident then you can claim on his or her insurance.
Third party fire and theft is the next level up. It covers you in much the same way as third party does but it also covers you for theft and also if your car happens to catch fire. That is it though. It will not cover you or your car in an accident.
Fully comprehensive car insurance quotes cover the most elements out of the three. It covers accidental damage, damage to your car, personal accident benefit, your medical expenses, personal possessions damage and all of the same elements as third party fire and theft. That is why it is called comprehensive insurance.
It is your choice as to which option you ultimately choose. It will definitely help to get car insurance quotes from various companies to see what is on offer. However, the type of insurance that you choose will definitely make an impact on your premiums. In some cases you may only be able to afford the basic level of insurance.
Fully comprehensive car insurance is easily the most expensive because of the sheer amount of elements it covers. Mrs Cooper is a prime example of that. She obtained a range of car insurance quotes for a Vauxhall Corsa and found that there was 173 pounds between the cheapest third party and the cheapest fully comprehensive insurance options.
173 pounds is a huge sum when you think about the impact it would have on your monthly premiums. It can price some people out of the affordable range. Whether you know what type of insurance you want or not, it certainly pays to work out your budget and look around.