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In United Kingdom, there are 3 major kind of car insurance plan, which are comprehensive car insurance plan, 3rd party car insurance plan and also the 3rd party car insurance plan with fire and theft coverage. So, what makes the difference?
Comprehensive Car Insurance Plan provide the most coverage variety and also charge the highest car insurance premium among the rest of the plans.
When an accident happened, comprehensive car insurance plan provide coverage for you and your passengers, 3rd party medical expenses, your car damaged, 3rd party property damaged such as car, properties or facilities.
It also provide coverage if your car was damaged by fire or getting stolen. Of course, your car insurance company unable to provide unlimited coverage or else they will go into bankrupt. Your coverage limit will be stated in your car insurance policy, any excess amount will need to pay from your own pockets.
3rd Party Car Insurance Plan will only provide medical expenses coverage and property damaged coverage to 3rd party, your own medical expenses or damaged on your car will not be under coverage.
When accident happened, you will need to come out your own medical expenses and your car repair cost by yourself.
3rd party car insurance plan will charge the least car insurance premium compare to the rest of the 2 plans since it provide the least coverage variety.
And again, the coverage limit will be stated in your car insurance policy. If you want to increase of your coverage limit, more car insurance premium you will need to pay for.
3rd party car insurance plan that come with fire and theft coverage provide the intermediate coverage and charge the intermediate price among all 3 plans. It provide coverage to 3rd party property losses and medical expenses.
But, if your car was total lost that cause by damaged of fire or getting stolen, it will be still under coverage in this plan.
So, which car insurance plan you shall pick for ? Generally speaking, if your car is new, expensive or you still serve your car loan, you shall take comprehensive car insurance plan.
Why? Do not forget that you still need to continue serve your existing car loan even your car had been total loss. It means if you buy 3rd party car insurance plan, and your car was total loss, you will need to serve 2 car loan at the same time; ( your existing car that gone plus your new car that you need for transport ) which will be a heavy burden for you.
If your car is serving under car loan, not that expensive, and you wish to save some money from comprehensive car insurance plan, you can consider to take the 3rd party car insurance plan that come with fire and theft coverage.
You are able to relief yourself from heavy debts by taking the 3rd party car insurance plan; and avoid to get total loss since you are cover under fire and theft coverage.
But of course, you will need to be pay for your own medical bills and your car damaged if any. You will need to be discipline that you will drive safely, won't get stuck into heavy medical bills or heavy repair cost, and you will be ready to pay for the light damaged repair cost for your own car.
If your car value was below $3,000.00 market value, you might want to consider to get a 3rd party car insurance plan to ensure yourself is free of heavy debts that caused by accident. You may also do not mind to add some more scratches or light damaged on your own car without repair it; or you are no problem to come out the cash yourself to repair for your car anytime.
No matter which car insurance plan you pick for, try to learn more on the Car Insurance Discounts Here to further reduce of your car insurance premium.
http://www.insurance-giant.com
Article Source: UnArchived Articles
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