Insuring your car can be one of the most difficult processes you experience each year, and many are already annoyed by the fact that they have to shell out yet more money on a legal requirement just to drive on the roads. With everyone feeling the pinch and trying to keep an eye on their finances, insurance is seen by many as an unnecessary expense, while it should be seen as a necessity and budgeted for in advance.
There are a number of different kinds of insurance policy available, especially for motorists, ranging from fully comprehensive cover that will insure your vehicle against all risks on the road to budget third party car insurance that will cover you for less, whilst still allowing you to drive on the roads. Without any form of insurance policy you need to remember that you are actually breaking the law by driving on the roads.
Third party car insurance, as mentioned, is the smallest form of cover to get you out on the roads. Put simply, it only covers damage caused to other vehicles or property belonging to the other car owner, and any injuries that they suffer as a result of an accident that is deemed to be your fault.
The ‘property’ covered under third party insurance isn’t just the items in the car with the person at the time – such as their mobile phone, contents of their rucksack or their awful CDs – but it can include things such as garden walls or shop fronts, (the things you collide with essentially in the case that it isn’t a car-on-car collision).
The biggest benefit of third party insurance over fully comprehensive, for instance, is that it is often far cheaper making it ideal for new drivers or those strapped for cash. As a new driver, you may have just spent a significant amount on your first car or you might be going onto your own policy for the first time and it is particularly expensive. However, you need to be insured before you can drive so having third party cover makes sense until you can save up more for when your renewal comes around.
With a third party policy in place, you can start to build up your no claims discount which will help to bring your premium down in the future. The longer you spend driving with your policy in place and without making a claim, the greater the discount you will be awarded at renewal time because you’re showing the insurer that you’re a responsible driver and not someone who is reckless and crashing every few months!