Car insurance in UK 2021

Wintrack insurance -  Anyone driving a car on UK public roads needs a car insurance policy that will cover them for that vehicle – it is illegal not to have a relevant policy in place while driving. This means there is no shortage of policies and providers, making the UK market quite competitive. This means drivers can choose from a wide selection of deals and have a good chance of getting an affordable and effective policy. However, there are three levels of cover which a policyholder must choose from – third party only, third party fire and theft, and fully comprehensive or ‘fully comp’.

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Third party only, the most threadbare kind of cover, provides protection for damage or injury caused to another person or vehicle in an accident, but does not cover any damage to the policyholder’s car. Third party fire and theft (sometimes known as TPFT) will also cover damage to another vehicle or injury to another person and will also cover the loss of the policyholder’s car if it is stolen or damaged in a fire. However, it will not cover any replacement or repair of your car in the event of an accident.

Fully comprehensive is the most expensive kind of cover but covers any accidental damage to a car under almost any circumstances, plus damage to another vehicle or injury to another person. It will also cover the loss or damage to a vehicle caused due to theft or fire. The levels of cover operate on a sliding scale of costs, so the more protection a policyholder goes for, the more expensive their premium is likely to be.

One simple way of influencing the cost of a premium is to increase the voluntary excess. An excess payment is an initial amount a policyholder agrees to payout before a policy kicks in following an accident. So, if a policyholder agrees to a £300 excess, and a crash incurs £1,000 in repairs, the policyholder pays £300 and the insurer the remaining £700. A higher agreed excess will normally result in a cheaper policy.

A more longer term way of saving on a car insurance premium involves building up a no claims bonus. This is when insurers reward drivers who do not make claims on their policies. Policyholders can usually expect to see discounts start building up after one year or so without a claim. The size of a discount and the time frame involved tends to differ from one insurer to another, and the best deal could be found by shopping around.

Many insurers will offer extras on top of a basic car insurance policy, such as breakdown cover and legal expenses cover. Legal expenses cover will usually provide protection for any legal costs which arise from a motoring-related incident. It will pay the legal cost of pursuing claims following an injury from an accident. This cover is designed to be used by the policyholder to pursue any uninsured losses, such as the loss of pay while recovering from an injury caused during an accident.

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Car insurance is compulsory when driving but many good deals are available. It could be worth getting a number of quotes and checking cover levels carefully before making a decision – the very cheapest policy may not be the best suited due to different company policies on no claims bonuses and the amount of extras involved.