Third Party Car Insurance UK
If you want to drive or own a car in the UK, by law you must have some form of car insurance to cover your vehicle. Both driving without a license and without insurance is a criminal offence in the UK and in severe cases can lead to not only a monetary fine, but also prison time! This means that you should not toy with the idea of not buying car insurance to save money. In fact, you should take it one step further and make sure you have the best and most appropriate cover that you can afford. Keep in mind that it is not only how well you drive, but you are at the mercy of other drivers and therefore it makes sense to properly understand the car insurance market so you can get the best deal possible.
In the UK there are three types of car insurance policies you will have to choose from: Third Party, Third Party Fire and Theft and Comprehensive. However, be aware because not all insurance policies and cover are the same, even within each of these three categories. When it comes to insurance the old rule of thumb holds true, you get what you pay for. Because of this, make sure you read your policy, especially the fine print, when comparing policies from different companies. There are reasons why one cover is cheaper than another!
The most basic car insurance coverage you can purchase in the UK is called Third Party. What this policy covers is the damage to a third party. What does this mean? It means that if you are involved in an accident, your Third Party car insurance policy will cover the damage to the other car, as well as injury to the person driving the other car, up to a given maximum which will be stated in the policy terms. The Third Party policy does not cover any damages to yourself or your car, so be aware of this. Also, if your vehicle is stolen or damaged, a Third Party car insurance policy will not cover you and there is no way you can recoup your losses.
Third Party car insurance sounds rather limited and that is exactly what it is. In general, Third Party car insurance is the cheapest form of car insurance available. Because of this, it is suitable and affordable for those that have just begun driving or don't have a driving record. It may also be the only affordable option available for those that have a bad driving record or heavy claims record. However, if you have just bought an expensive car and would like your car covered against theft or vandalism, you may want to look into Third Party Fire and Theft coverage instead.
