Car Insurance - UK-Money.com

Ensure you have car insurance!

You can’t make a decision as to whether or not you want to take out car insurance. Since 1931 it has been compulsory for drivers to have car insurance to cover the costs of any injury to others or any damage caused to property. Of course, there are those of us that try to get away with driving uninsured, but for the rest of us we paid £12.6 billion to UK insurance companies in 2003 to insure our cars. That’s more than we pay for insuring what is said to be our most valuable asset, our homes!

Can you imagine just how much it would cost you if you had an accident where you clipped another car and drove into a wall, writing your car off? The list of things you would have to shell out for could be endless. A new car for you, a new wall, car repairs to the other car that was involved in the accident, claims for whiplash injuries from the other driver to name but a few. This could amount to thousands of pounds and if you are not insured this has to come out of your pocket! An insurance company takes on the risk of such eventualities. You pay them a premium for an insurance policy and they will cover you.

What types of motor insurance are available?

The amount of cover that they will provide depends on the type of car insurance that you choose. There are three main types of car insurance available in the UK:

Third party car only car insurance – this only covers your liability to others, not your vehicle or yourself. This is the minimum legal requirement for motor insurance.

Third party fire and theft car insurance – third party fire and theft covers your liability to others in the event of an accident, if your car is stolen or if your car catches fire.

Fully comprehensive car insurance – comprehensive car insurance is known as an all risks policy, which means you can claim for any damage caused to others, their car, your car or yourself. There are always exclusions and these can be found online in the small print and in any policy document of the insurance provider.

Obviously, the more comprehensive the cover is, the more expensive the policy will be.

Where can you get car insurance from?

There are hundreds of car insurance providers, many of them with household names. A couple of decades ago you would have had to of gone through a broker to get car insurance but nowadays over 50% of car insurance purchases are made direct; that’s either online or over the phone.

Lots of car insurers are offering discounts for getting a car insurance quote and applying online; the internet provides them with their lowest cost leads so why not reward customers who use this route!