Insurance Comparison: Which Insurance is Best?

When you’re a new driver, there is a lot you need to consider with regards to your car insurance. We know that premiums always seem to be going up, and it’s a massive concern that many young drivers have. Financially, it can be draining, and it can be tempting to go for the cheapest possible option just to save a few quid. 

The problem is that the cheapest option isn’t always that, and sometimes, it can end up costing you a lot more in the long run. What you need to do is compare each type of car insurance so you can figure out which one is best for you. That’s why we’re here with this guide – we don’t want you to feel overwhelmed and take this journey alone. 

What are the Types of Car Insurance? 

There are three main types of car insurance that are provided for drivers of all ages. It doesn’t matter if you’re new or experienced, the types remain the same. The only thing that changes is the cost – as you get older, you are seen as less of a risk on the roads. The three main types of insurance are as follows. 

Third-Party 

Third-party insurance only covers the damage you do to other people and property and not anything that you own. It’s the most basic form of coverage, which is why it’s so cheap. However, many insurance companies have started to remove third-party from their options list and are making the shift to solely having third-party fire and theft as the cheaper option.

Pro Tip: This is the legal minimum insurance required to drive on UK roads. 

Third-Party Fire and Theft 

This is a slightly more inclusive version of third-party that covers a little more without going for the comprehensive package. It includes: 

• Injuries caused to someone else 
• Damages to someone else’s property or vehicle
• Damage caused by fire or theft 
• Stolen vehicle

What it doesn’t cover includes damage caused by: 

• Fallen trees 
• Any objects in general 
• Natural disasters 
• Vandalism 
• Hitting an animal
• Injury to yourself 
• Damage to your property or vehicle 

Comprehensive 

This form of insurance includes all the third-party fire and theft coverage alongside a host of extras that ensure all bases are covered. This includes:

• Theft
• Vandalism
• Fire
• Natural disasters
• Falling objects and trees 
• Hitting animals
• Glass or windscreen breakage
• Injury to yourself 

However, comprehensive car insurance does not cover: 

• Negligence 
• Standard wear and tear 
• Invalid driving license 

Third-Party Fire and Theft or Comprehensive? 

Comprehensive insurance offers the highest possible level of protection for you and your car. It ensures you are covered no matter what happens, and you can relax a little while you let the insurance company sort things out. If you’re driving around a lot and you know the parts for your car don’t come cheap, comprehensive is the way to go. 

Third-party fire and theft only really works if you can confidently afford to replace your car if it gets written off or you know the parts are cheap. It helps if you’re a mechanic and you know you can fix things yourself because that also saves a lot of cash. If you don’t drive often and you’re prepared to do repairs yourself, third-party fire and theft might be an okay choice. 

Does Third-Party Fire and Theft Work Out Cheaper?

It might look like third-party fire and theft and standard third-party work out a lot cheaper, especially in terms of the monthly payments. However, these policies actually tend to attract high-risk drivers who are more likely to put in a claim or get in an accident. This means that insurance providers practically expect you to get in an accident.