It is obligatory to have insurance cover for your car to drive it on UK roads. Penalties are applied if you are caught without insurance by the police and in the event of an accident you may be liable for high financial and possibly criminal penalties.
There are three types of car insurance available to you in the UK:
Third Party: The legal minimum cover which you must have. Third party insurance covers you against claims for injury to other people or their vehicles caused by your insured vehicle.
Third Party, Fire & Theft (TPF&T): An extension of third party insurance, which additionally covers damage caused to your car by fire and loss or damage caused by theft.
Comprehensive: Covers the above plus damage to your own vehicle, along with personal accident benefits and medical expenses arising from a car accident.
Most insurance providers let you chose between different levels of ‘excess’. This is the amount you will have to pay before the insurer gives you any money. For instance, if you have a £100 excess and break your windscreen, which costs £150 to repair – the insurer will give you £50 and you will have to pay for the other £100 of the repair. If you take a large excess, it will reduce the cost of your policy, but obviously means if you have a couple of smaller accidents it quickly gets very expensive.
There is a very wide range of insurers who will offer motor insurance. For a list of members of the Motor Insurers Bureau (MIB) click here www.mib.org.uk/MIB/en/Members .