Fully comprehensive or third party fire and theft car insurance?

Car insurance is a legal requirement for drivers in the UK. Once you have purchased the vehicle and your intention is to drive or park on a public highway then you will need to be adequately insured. The question you may find yourself asking is – do I require fully comprehensive or third party fire and theft car insurance?

It is estimated that there are over 1 million uninsured vehicles on the road in the UK. Because of the risks of driving without insurance and causing suffering from an accident, the penalties for avoidance of insurance are very high. If you are involved in an accident or are requested to provide proof of cover, and you are unable to do so, you could incur a large fine, points or even disqualification. So let us look at the options that are available to you, and how they differ from one another.

Third party insurance only

Third party insurance is the minimum cover that you are obligated to obtain when driving a vehicle. This will not cover you for any damage to your own car should you be involved in an accident. It is there to cover you against the costs involved (always check with your broker if legal costs are covered) if you were to cause an accident to another`s car, property or person themselves. The  advantage to this type of cover against other policy`s is the lower premium cost. You must be prepared to lose the price of your own car if an accident happens.

Third party, fire and theft

Similar to third party insurance but has the added bonus of covering your own car due to the result of fire damage or being stolen by a third party. This cover is worth considering should you own an old car who`s worth is higher than the cost of the premium.

Fully comprehensive

This level of cover is the most appropriate for the majority of motorists. It covers the policy holder against loss of the car and its contents (where applicable) – whether fault or non-fault. You are covered for Accidental Damage to your vehicle. You get everything you get from third party fire and theft with sometimes the added bonus of being able to drive most other cars with third party insurance cover – Driving Other Cars. You will need to inform your broker if you intend to use the vehicle for business purposes, but your journey to and from your one permanent  place of work will generally  be included in the policy. For many of us, when asking do I choose fully comprehensive or third party fire and theft car insurance? The answer will be largely down to the price of the premium,  whether you are able to pay in instalments if needed, and the level of cover that suits our needs and lifestyle.

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