What sort of policy should I buy? The three main policy types you will choose from are comprehensive motor insurance, third party car insurance and third party fire and theft motor insurance. Read this article to choose which is best for you.
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The main differences in these policies are summed up here, but when you accept a quote make sure you have read the detail on the particular policy you are choosing as many have differing policy benefits and limits.
Third party insurance
The most basic cover required by law is third party car insurance. This covers you for liability for damage you cause to other people's property, or for amounts you might have to pay in case of death or injuries to third parties. But third party car insurance can be much cheaper than comprehensive motor insurance because it doesn't cover you for your own car or person. This could be costly if the accident is your fault. The good news is if it isn't your fault the other party's insurance should pay for repair or replacement of your car and any medical expenses you might incur as a result of the accident.
Third party fire and theft insurance
Third party fire and theft car insurance has additional clauses from third party car insurance, which give you extra protection in the event that your car is damaged by fire or stolen. People who live or work in high risk areas often choose to increase cover from third party insurance. Remember, you'll often have to pay an excess if you claim, and your no claims bonus (no claims discount) may be affected, so if you have a car that's not worth much it might make the fire and theft additions not worth the extra expense. This can also be the case with comprehensive motor insurance.
Comprehensive motor insurance
Comprehensive motor insurance can be more expensive because it gives you third party, fire and theft motor insurance benefits but includes much greater levels of cover, including repair or replacement of your own vehicle in the case of an accident, incident or loss, even if you were at fault. If your car value is too high for you to be able to afford to replace it in the event of an accident which is your fault, comprehensive motor insurance is definitely worth considering; most car owners purchase comprehensive motor insurance. There are many additional benefits with comprehensive motor insurance depending on which policy you choose, such as courtesy cars, in-car entertainment cover and comprehensive motor insurance cover abroad. Another key benefit of comprehensive motor insurance is the inclusion of glass and windscreen cover.
Whether you take out third party car insurance, third party fire and theft motor insurance or comprehensive motor insurance, when you use Renew's easy to understand price comparison service you just need to give us your details once, then we will come up with the quotes that best meet your requirements.
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