Car Insurance
Car Insurance
If you are a driver or owner of a car. You have to be insured by law. This is a rough guide to Car Insurance. You should seek Car Insurance cover from a broker or insurer regulated by the FSA.
Car insurance is a complex area. There are hundreds of different car insurance policies to choose from, and its not always that easy finding the correct one for you - at a price which gives value.
There are three main types of car insurance
Third Party, Fire and Theft Car Insurance
The minimum car insurance cover you can buy is called 'third party only'. This covers you if you injure someone else or damaged their property. Most car insurance providers will not provide this to you on its own.
The next car insurance cover to include is 'fire and theft', this provides protection against loss and damage if your car is burnt or stolen. It will not protect you against damage to your vehicle if you're involved in an accident or it is vandalised.
Comprehensive Car Insurance
Comprehensive Car Insurance covers damage to your vehicke from a wide range of causes, including accidents and fire and theft. Other items it coves can include limited cover for items stolen from your vehicle, medical expenses and personal accident protection.
Be aware that 'comprehensive' can be a bit misleading as these policies always have limitations and exclusions.
Uninsured Loss Recovery
This provides policyholders with cover for legal expense costs to pay for a solicitor to pursue a guilty third party in order to recover uninsured losses - policy excess, hire car charge, any other out of pocket expenses causes by third party negligence - as well as costs to pursue a personal injury claim.
It is especially useful for Third Party Fire & Theft policyholders and will attempt to recover not only the losses mentioned above, but also their vehicle damage costs.
Motorists Legal Protection
This provides cover to meet the cost of defending court actions arising from incidents on the road. A good addition if its not already included in your Car Insurance.
How much will my Car Insurance cost ?
Car Insurance can vary dramatically in cost. There are many factors effecting your car insurance.
The type of car that you drive. How desirable it is to thieves, the size of engine, how much it costs to repair.
The area in which you live. Is it a low crime area. Do you live in an area where you are more likely to have an accident. How often do you use your car. What the main purpose of your car.
How old you are and your driving experience effects your car insurance.
Do you have any points on your licence. Do you have any convictions relating to motoring offences.
Always provide accurate information to the insurer. Inaccurate information can make your policy void.
Most importantly shop around for your Car Insurance.