Tailoring your car insurance to suit your needs Prudential UK & Europe
24.03.10
Many people buy the cheapest car
insurance cover they can find, but when time comes to make a claim they
find themselves under insured, or protected where they don't need it. For example,
why pay extra premiums for a hire car in the case of an accident where your
car needs repairs, when you have a second vehicle at home anyway?
It's always a good idea to tailor your car insurance policy to suit your needs.
This way you get the right cover, and a good price. There are three basic levels
of car insurance cover widely available in the UK. Each policy will offer its
own unique additions and small print, so make sure you choose one which suits
your needs the most.
Here is a breakdown of the three basic types of car insurance in the UK:
Third Party Only Car Insurance
Third Party Only motor insurance is the minimum level of cover you are legally able to take out for your vehicle
within the UK. Third party only insurance protects your liability towards any
third party involved in an accident, such as your passengers, pedestrians, other
drivers involved in the accident or damage caused to the other parties' vehicle
and damage to property which is not your own.
Source:
Cheap Car Insurance: Benefits of Being a Law-abiding Motorist
You are responsible for taking care of your car and its health and at the same time you must be careful about yourself while driving it. You are getting good comfort and convenience by using your car but do you think about its safety and security. Now, people who take care of their vehicle are opting for cheap car insurance too often.
Generally, most of the people think that they dont need car insurance because they take good care of it and nothing can happen with it. But this is the tragedy with misfortune that it is unforeseeable. In fact, anything can happen with your car despite of your great care. Your car is susceptible to car theft, vandalism, fire and road accidents. Cheap car insurance is always a good idea to avoid bad implications of any of these misfortunes.
In fact, car insurance is a legal requirement in the UK and it is an absolute minimum before venturing on to the road. You are required by law to have car insurance to cover your potential liability to other road users. The law requires every person using a motor vehicle on the road in the UK, or permitting others to use that vehicle, to be insured against damage by causing personal injuries to third parties. Previously, many drivers were avoiding car insurance due to high premium but now many cheap car insurance plans have come up with great benefits.
Most auto-insurance companies offer three types of cheap car insurance, third party only (TPO), third party, fire and theft and comprehensive car insurance. The TPO plan insures against accidental damage to a third party vehicle and injury to third parties. Third party, fire and theft include all the benefits of third party only with the addition of cover for fire, lightning, explosion, theft, attempted theft and taking without consent. Whereas, fully comprehensive car insurance covers against accidental damage to a third party vehicle and to the policyholder’s car, injury to third parties and liability to passengers in the policyholder’s car.
Motorists forced to opt for lower level coverYet motorists must be careful that downgrading their level of car insurance cover doesn't turn out to be one cut-corner too many. There is no doubt that opting for a Third Party or Third Party Fire and Theft level of cover, in most instances, U-turn on insurance
A generation spoilt? Why today?s young drivers have never had it Think carefully when choosing the make and model of your car ? avoid modifications, opt for a smaller engine size, and a lower purchase value. Consider if Third Party Fire and Theft insurance cover is suitable for your needs.
Car insuranceIt covers damage to the other person's car or compensation but if your own car is stolen, burnt out or damaged it is not covered. Third Party can be beefed up using add-on insurance such as Fire and Theft. The price of insurance can add a lot to the
The vital protection everyone needsThe legal minimum requirement for car insurance is a third party policy, but you will probably find most insurers package this with fire and theft protection. Therefore, a third party, fire and theft policy is probably your cheapest option.
Car insurance: I paid 100 pc premium, got only 40 pc claimHe had opted for a full package policy that covered loss or damage to the vehicle and its accessories along with third party insurance. (Remember, taking a third party policy, which is mandatory, will cover only your legal liability to pay compensation
