Car insurance is a legal requirement in Britain, and there are countless deals on insurance policies to choose from. In this article, we look at:
- What car insurance is
- How to get car insurance
- The different types of car insurance
- Comparing car insurance and getting the best deal
What is car insurance?
Car insurance covers you if you are involved in a motoring accident, if your car is broken into, or stolen. As an insurance policy, it protects not only you, but also other drivers that may be involved in a motoring incident with you. How much your insurance policy will cost largely depends on the type of cover that you opt for and the level of protection, but also how much insurers assess you to be a risk.
Typically, a young person who has just passed their driving test is much more likely to have to pay high insurance premiums compared to someone who has been driving accident-free over a long period. Most importantly, to drive a car in the UK, you must be insured by law. You would not be able to tax a car without insuring it, and you could risk facing severe legal consequences if you are not insured to drive a car.
How can I get car insurance?
Getting car insurance is a very straightforward process that you can follow online. Initially, you would get an insurance quote from multiple car insurance groups that are authorised and regulated to issue policies in the UK. The necessary information you must provide to get a quote is your registration number, the model and brand of your car, its age and value, and whether you have made any modifications to your vehicle. Personal details must also be included, concerning your age, the area where you live, as well as aspects of your driving history.
If you currently hold another insurance policy, such as home insurance, it would also be possible to ask your insurer about getting car insurance with them. They may be able to offer you a better deal if you choose to take out an additional policy with them. Once the quotes have been made available to you, generally within a short period upon request, you would be presented with numerous options at different prices that you could choose from.
Different types of car insurance
The most basic kind of insurance is third party, which is the minimum level of cover which allows you to drive or keep a car. If you have caused an accident, your insurance company is liable to pay for the repairs of the third party involved in the accident, but it would be your responsibility to pay for the repairs to your vehicle.
With comprehensive car insurance you may be insured to drive other people’s cars or also have insurance while driving a hire car.
Another type of policy is third party, fire and theft; this type of policy protects you if your vehicle sustained fire damage or if your car is stolen. Insurance premiums usually are higher when choosing comprehensive car insurance, which is the broadest level of cover possible. This type of policy covers repairs even in the case that the damage caused is your fault. Furthermore, you may be insured to drive other people’s cars or also have insurance while driving a hire car.
Comparing car insurance and securing a great deal
To get the cheapest car insurance deal, it is crucial to compare using online resources that aggregate information from multiple insurers. This is a convenient and fast way to find out how much your insurance will cost.
To find the car insurance policy that suits you, you must decide on the type of cover that you need. It is important to note that third-party insurance may not always be the cheapest option as many competitive offers in the market can give you more value for your money. For instance, you may be presented with deals at a very similar price range, but you may opt for a policy that also included breakdown cover.
The excess you are required to pay is another aspect you must consider. This is the amount that you are expected to pay toward an insurance claim. Typically, you are required to pay a small amount while your insurer provided the rest of the funds needed to cover the repairs for damage. If you need to make a claim, having a high excess can place a lot of financial stress on you so you may wish to opt for a policy that allows you to pay a lower amount as excess. Finally, it is essential to be honest with your insurer as any discrepancies may cause your policy to be invalidated.