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What is Third party only Insurance?
If you want yourself to be personally covered against accident or your vehicle to be covered you should consider a more comprehensive form of car insurance.
Hot Topics
- What if I own a classic car?
- Classic cars are used for many different purposes, whether it be driving to and from work, attending trade shows or even for rallies. Classic cars often require a more tailored car insurance package which allows you to fit the policy around the cars use. This may be in the form of limited mileage or even specialist track day insurance.
- What to do if you have an accident
- In many circumstances you will not be able to prevent an accident, especially if the accident is not your fault. If you are involved in an accident, there are several steps you need to undertake.
- How do I claim if the accident involves a third party?
- In insurance terminology, a third party is defined as anyone else involved in an accident who is not the policy holder. Under UK law you are required at all times to have a minimum of act only third party insurance, but in reality most insurers only offer full third party insurance. This insurance will ONLY protect any damage done to third parties involved in an accident, not to your own vehicle. There is also the question of personal compensation, usually this is also covered by a third party policy, if in doubt check your policy documents.
- How do I find the cheapest motor insurance premiums?
- In order to get the best possible quote for your Motor insurance you should compare and contrast quotes provided by many different insurers. You'll find the difference between quotes can be enormous with a potential 50% difference between the most expensive and the cheapest quote.
- How your premium is calculated
- The main factors influencing the cost of your insurance policy are:
Although technically ‘Act Only’ insurance is the minimum form of car insurance required for you under law, in practice it is very rare. Most insurers offer 3rd party as the minimum form of cover in their portfolio.
Insurers consider your personal details when they calculate your car insurance premiums. Your age, driving convictions, claims experience and driving experience all effect the cost of your premiums, as is your employment status and occupation. How often the vehicle is used also effects the premiums because if it is used for business purposes, then you will probably be cover greater than average mileage. The type of Motor vehicle also has a large effect upon the premiums.
Like any form of insurance contract, you should fully read the terms of your policy very carefully. In some circumstance you may be covered to drive other cars, in some you may not. Likewise others may also be insured on your car.
NOTE check your policy documents before allowing others to drive your vehicle.
Under the law, if an accident is proven to be caused by you, then you are fully liable for any injuries to property or people during that accident. This includes cover for death and serious illness such as loss of a limb. Your legal costs, are covered as well.