by Justin Brown
Although we all dislike paying for it when the time comes around, car insurance is a necessity and has been a legal requirement for all drivers for many years now. However, due to the large number of companies now offering vehicle insurance, paying over the odds shouldn't be the case, and finding a deal to suit you shouldn't be a problem. In this brief guide we aim to provide an insight into the types of insurance, buying car insurance online, and important factors to remember before comparing insurance quotes.
Types of Insurance
There are three main types of vehicle insurance, all of which differ in what they cover and as a result what it costs to insure. We will briefly go through each type:
'Third Party Only' Insurance:
This type of insurance covers the policyholder against damage to either a third party or a third party's property. So, for example, if you were to damage a vehicle and injure the occupant(s) of that vehicle, your insurance would cover you against the costs to repair the vehicle and any medical claims made by the occupant(s) in either vehicle involved in the accident other than you. What this type of insurance will not do is cover you for any expenses towards your own vehicle, nor any medical claims made by yourself. Nor will you be covered in the circumstance that your vehicle is stolen or set on fire.
'Third Party Fire and Theft' Insurance:
This insurance policy is exactly the same as described in 'Third Party Only' above, with one exception. Should your vehicle be stolen or set on fire then you would be covered under this policy.
'Fully Comprehensive' Insurance:
A 'Fully Comprehensive' insurance cover will pay out in circumstances outlined in the above two policies, and will also pay for damage to your own vehicle, regardless of who was at fault for the damage.
Insurance Online
Using websites to browse and choose a provider is a great way to buy insurance and is certainly here to stay, and here's a few reasons why.
There was once a time when phoning around insurance companies would be very time consuming and would have to be conducted during office hours or in a rush after work or during work breaks. However, the internet is available at all hours of the day, everyday, all year. This allows you to browse through various websites to read up on their insurance offers, determine which is the most suitable for you in your own time in terms of insurance cover and cost, and to complete an online form in a matter of minutes.
There is also a conception that the internet is an unsafe place to use credit card information, although the encryption provided by companies accepting credit cards means that it can be argued that it is safer than giving details out over the phone.
Furthermore, the good news is that many companies now offer incentives to use their online service as opposed to their telephone service, and often provide discounts due to the decreased human resource time needed per sale. The wide range of insurance companies available on the internet is also good news, as it means that the competition to offer the best premiums is strong, ultimately saving you money.
Important factors to remember when comparing insurance quotes online:
When comparing insurance quotes online, it is very important to compare a like-to-like quote and not two totally different ones, an extreme case would be comparing an insurance quote for a car under 'Third Party Only' insurance against 'Fully Comprehensive'.
Thanks to the internet, comparing quotes is now easier than it ever has been. Ensure though, that you evaluate each quote to determine which represents best value for money. Consider the likelihood that cheapest is not always the best, and may be full of qualifications, heavy excess fees, and exclusions.
One recommendation is to shop around first. Why not browse a few websites to read up on the range of offers currently available before deciding on one that's right for you, you may end up saving your self a lot of money.
Justin Brown is the owner of the site http://www.idealauto.co.uk where you can find information on car insurance and also sell any used cars in the UK.
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