There are three main types of motor insurance, ranging from fully comprehensive cover to the legal-minimum third party.
Here's how they break down:
Comprehensive
Covers almost every eventuality
Is the most expensive cover to buy
There can some exceptions with cover, so check the small print
Some stipulate a car must be garaged overnight
Some may specify an alarm
Ignore any stipulations and your cover may be void
Third party, fire and theft (TPFT)
Is cheaper than comprehensive cover
Covers third party costs after an accident
Covers theft loss or damage
Covers fire damage
Does NOT cover repairs to your car if the accident is your fault
May require a higher compulsory excess (the amount you have to pay towards any claim)
Third party
The most basic form of insurance
The legal minimum requirement in the UK
Covers third party repairs only
Does NOT cover repairs to your car if the accident is your fault
May be better to consider paying more for fire and theft cover
