Car insurance companies offer three levels of car insurance to their customers-third party, third party fire and theft and fully comprehensive.
Third party car insurance is the cheapest to purchase and includes cover for damage or injury to other vehicles, property and people including your passengers but does not cover your own car or yourself. So, if you are responsible for an accident that causes damage to both your car and the other person’s car your insurer would cover the other person’s vehicle but not your own.
Third party fire and theft car insurance is the next cheapest to purchase. As well as covering the things mentioned under third party it will also provide cover for your car catching fire or being stolen.
Fully comprehensive car insurance is the most expensive to purchase and includes all that is covered under third party and third party fire and theft plus it covers damage to your own car even if the accident was your fault.
The level of cover you select will depend on a number of factors such as the value of your car and your budget. In previous years you may have had fully comprehensive car insurance but having received your renewal notice you see a substantial increase in premium is going to take place.
You have a number of options such as just accepting the renewal quote, going onto the likes of a price comparison website to get a comparative quote or consider reducing the level of cover to either third party or third party fire and theft. If you are contemplating the latter then you must be confident that the reduced level of cover will meet your requirements and also bear in mind that a number of car insurance providers charge an administration fee to amend a policy.
As you are visiting this site you may like to get a quote through it from a wide selection of car insurers.