Car insurance is mandatory in the UK but finding the one that suits you the best can be quite a chore. Before you get yourself car insurance, there are some things you need to know.
Car insurance is legally mandatory for any motorist in the UK. From among the three levels that are currently available: Third Party Only (TPO), Third Party Fire & Theft (TPFT) and Fully Comprehensive, select the policy that fits you best.
Good car insurance plan
Are you thinking of getting a good car insurance plan for yourself? You will be surprised to learn that there are many sources online which can offer you a great quote which will be appropriate with the budget you have in hand. However, getting a good quote is not the only thing which you should look for as checking the policy along with the insurance rate is also very important in order to understand the insurance policy.
The best approach will be to carry out a good search for a good car insurance quote which offers you the maximum discount plus extra benefits which will be really helpful to you in the long run.
Opting for the cheapest car insurance in the market might not be such a bright idea. You have to read the policy document carefully, so don’t just skim over the terms and conditions, as there might be something there that might mean whether you will get your insurance money or not, if the car is totaled.
Types of car insurance
There are different types of policies which you could opt for.
- The first one is Third Party only- this is the basic level in the UK. This type of insurance will only cover costs incurred by third parties and will not protect you or your car.
- The second kind is the Third Party, Fire and Theft insurance which give the same protection as the Third Party Only insurance but also covers your vehicle if it is stolen or damaged as a result of fire or theft.
- The third kind is the Fully Comprehensive which protects you and the vehicle as well gives you all the features of the Third Party Only and the Third Party, Fire and Theft policies.
Fully Comprehensive car insurance can really help because if you’re the offending party in an accident then the policy will cover the cost of repairs not just for the third party but also for your vehicle.
Budget car insurance
Budget car insurance is not hard to find, but to find one which will not exclude certain essential factors is not easy either. You should find out what the insurance will cover in case of a breakdown, theft, accidents or any other untoward incident.
A good idea would be to compare car insurance quotes on the various websites which are available. These websites, more often than not, have a comparison tool which will help you make an informed decision.
You have to carefully look at the level of excess, that is, the amount you have to pay on any claim. Many of the budget car insurance and the cheap car insurance in the UK include very high excesses. This is to discourage people from making smaller claims. So going in for cheap car insurance might prove to more expensive.
Car insurance and no claim
Another factor you have to consider, when buying cheap car insurance is that there might be no option in the policy to protect your no claim bonus. You will find that all this will impact your no claim bonus or even increase your premium in the coming years.
Make sure that you insure only with a known player in the industry as there are some fly by night operators who have a presence on the Web.
Car insurance guidance
You can follow several approaches while trying to find the best car insurance quote for yourself. You should understand that there are several discounts which you can benefit from like if you get married then both of you can gain from the benefits of the insurance.
Also, after you turn 55 years of age, you are entitled for senior discount which will also lower your insurance rate. Also, before buying a car, we fail to check out the rates for the car which is sure to affect the car insurance rate.
As we all know, a sports car will be 2-3 times more than that of a standard car so it is important that you check the make and model of the car you are trying to purchase and also correlate the same with the insurance rate. Many of the times, you are also offered a good driver rate quote discount if you display a good driving record and this will help you to get a good rate on your policy.
Also, most of the users are unaware of the fact that if you have several insurance policies with a single company then the company will in turn provide you a discount on their insurance rate which will be extremely beneficial in the long run. This is also one point which you need to check out and do proper research on so that once you decide on the company from whom you would like to receive your insurances then you can retrieve maximum benefits from them which will be very advantageous in the long run.
Third Party Only (TPO)
If you want to drive your car on the UK roads, the minimum level of cover mandated by UK law is TPO. The Third Party Only cover is the basic level and the cheapest. However, it does not offer you or your vehicle any cover, in an accident. It only covers the costs of the third party or the others involved in the accident. Such a policy would only pay for the damage caused to the others and you cannot claim any costs for the damage to you or repairs to your vehicle.
While opting for the TPO insurance it would be prudent to take into consideration the value and condition of your car. If you are driving an expensive and new car, it would not make any sense to go in for the TPO insurance. It is also the case, sometimes, that the Fully Comprehensive cover or the Third Party, Fire & Theft insurance is a better option, as it would work out more economical in the long run. So it would be worth the effort to make a comparison of the different covers available and find the best fit based on what you would want in case of an insurance claim.
Third Party, Fire & Theft (TPFT)
The TPFT is a higher level of car insurance cover as it provides your vehicle protection against theft and damage due to fire, over and above the TPO cover. But like in TPO insurance, only the third party liability is covered, in case of an accident and you cannot claim any insurance cover for you or your damaged vehicle.
Opting for the TPFT is again based on the condition of your vehicle as well as its current worth. So, you may want to check if the Fully Comprehensive insurance would be a better bet, at the price it is offered. You would need to ask yourself, if you can afford to write off your damaged vehicle and go in for a new one, as the repairs to your damaged vehicle may be more than the price of buying another car.
As the name suggest, it is the most complete protection for you and your vehicle. This not only covers Third Party liability, but also covers your vehicle against theft and damage by fire, as well as provides cover for you and your vehicle, in case it is involved in any accident, even if you are at fault.
You must, however, note that no vehicle insurance policy covers every eventuality. As in every insurance policy, there are, always, exceptions in the terms and conditions that govern the policy. It is advisable, therefore, not only to read the terms but also read between the lines, for any disappointment later on. Most often, the Fully Comprehensive policies come in with options that can be plugged into the main policy, to cover those aspects that are outside the terms. A vehicle breakdown, towing service and vehicle recovery, courtesy emergency car hire are a few of these add-ons.
It is prudent to note that a Fully Comprehensive policy may not always be the most expensive option. In many cases it would be cheaper, in the long run, for the higher and varied level of protection that it offers. In all, it is not important how quickly you get yourself a car insurance quote but the emphasis should be on the fact that you need to receive the maximum benefits for the car insurance plan so that you can receive the best benefits from the deal.