Motor Insurance Explained
It doesn't matter whether you're an old driver or a young driver motor
insurance is a legal requirement and something you'll have to understand if you want to drive in the UK.
If you want to drive your car, motorbike or van then you'll have to make sure you have motor insurance. If you don't, then not only could you be liable for huge costs in case of an accident; you'll be at risk of arrest, a huge fine and in all likelihood, the loss of your car.
Insurance is there to protect you, your vehicle and other motorists against the costs of any accident that causes injury or damage to property. Although there can be a huge differences between the policies offered by different providers, there are three broad types of motor insurance cover.
Third Party:
This is the minimum level of cover required by law. Effectively this is 'liability insurance' - it's not so much for compensating you as it is for compensating anyone else involved in an accident that was your fault. Obviously if you don't have this, you'd have to pay the costs directly. Not many people can afford this, hence the law.
All types of motor insurance have third party cover as their basic level of protection. However, nearly all companies will offer additional levels of cover that aren't required by law but are usually worth considering depending on your circumstances.
Third Party Fire and Theft
Fairly self explanatory, this is the same cover as third party insurance - but also helps you more directly. Under this type of insurance, you'll be covered in case your vehicle is damaged by fire or stolen.
Comprehensive:
As you might imagine this is the most exhaustive types of cover. Although this tends to be most expensive as well, it can be extremely useful in case of an accident, particularly if you rely on using your vehicle. Not only does it provide all the cover available to third party fire and theft, it also protects you in case your car is damaged in accidents where there isn't another party - so if you crash your car without damaging anything else, this will pay out.
by: Mathew Cooper
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