If you’re thinking pf buying your first car, it’s important to consider the type of insurance cover you need. There are three main types of car insurance you can get:
Comprehensive cover
You need this cover if you have a new vehicle which you are financing. This type of cover is for both your own vehicle damage and also damage that you may have caused to another person’s property or vehicle, theft, fire, hail and malicious damage.
Third Party, Fire and Theft cover
This is a more restricted form of car insurance. It protects you against damage you may cause to another person’s property or vehicle and also covers your own car for damage caused by fire or theft.
Third Party Only cover
This type of cover is ideal if you need cover for damage that you may cause to someone else’s vehicle or property.
How to make sure that you get the best insurance:
- Decide how much car insurance you need. This is most likely to depend on how much you can afford, how much your assets are worth and whether you have dependants or not.
- Compare car insurance quotes online, directly by phone or through a broker.
- Get quotes from several insurers.
- Make sure the company you choose is reputable, with good customer service and efficient claims-paying ability.
- Make sure you understand what you’re buying.
- Estimate you insurance needs periodically.
Factors that may be considered:
- Amount and type(s) of coverage you want and need
- Your driving record
- The make and model of your car
- Where you live
- How often you drive
- Your credit score
To make sure that you get the best insurance, you should make sure that you research car insurance companies. Check for ratings, reach out to the company and ask specific questions about coverage options and cost.