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.

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What are the principles Motor Insurance is built upon?
During the process of applying for motor insurance you will be asked for many details ranging from personal details to location and security based questions. As with all insurance you are well advised to answer any and all questions as honestly as possible in order to ensure any claims are fully met by your insurance company in the event of an accident.
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.
Who should I contact should I wish to report a problem with an Insurance Company?
The general insurance industry is now regulated by the Financial Services Authority (FSA).
Who do I contact if I have a complaint against a finance house?
First you must address your original contact you dealt with, ask them for their job title and then request that the provide you with the name of the person who handles complaints. Traditionally, finance houses are required by the FSA to have a complaints procedure, and you should ask for details of this.
Am I insured to drive someone else's car?
Many motor insurance providers will allow their comprehensive policy holders to drive any other vehicle, as long as it is already insured by another driver. This means that you can drive your friend's car BUT it is likely that you will only be insured to third party level.
Third Party car insurance car insurance will only cover you against liability to others. It will ensure that in the event of an accident the innocent party’s repair/replacement costs are insured against.

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.