We know that the financial climate in the United Kingdom is not satisfactory for millions of people. Having paid the mortgage or rent, put food on the table and paid the utility bills one of the next things to make sure is paid is the car insurance premium. After all, it is a legal requirement that you have car insurance in place.
Whose fault was this car accident?
There are, however, different types of car insurance and we have previously discussed at length two of those types – third party and fully comprehensive car insurance. The remaining type is third party, fire and theft so let us have a look at that.
As far as cost goes, it falls in between the above two types.
It provides cover should your car be involved in an accident for any damage to another vehicle(s), other people and other property. It does not cover your own car in the event of an accident. Therefore, if the accident were your fault, you have a problem as you will be responsible for paying for the repair costs to your car or, if it were written off, for a replacement car. If the accident were the fault of the other driver you would claim off their car insurance policy for the damage to your car.
In addition, if your car were stolen, your car insurance policy would pay out if it was damaged by the thief or was never found again. If it were damaged or written off in a fire then your policy would also pay out.
This level of cover may be suitable if your car is not worth several thousand pounds but if it is then you should give thought as to whether fully comprehensive car insurance is a more suitable level of cover as it would cover your own car should you be involved in an accident that is deemed to be your fault although it is, of course, the most expensive type of car insurance.
