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Third-Party Insurance holders pay more money for less cove

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Third-Party Insurance holders pay more money for less cove

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  1. Third Party Insurance

  2. Third-Party Insurance holders pay more money for less cover

  3. Drivers are being warned not to assume that third-party insurance will be the cheapest option after research by Guardian Money found they were being quoted up to £4,000 a year more for policies that offer less cover than fully comprehensive plans. • Around nine in 10 drivers choose comprehensive motor insurance because it offers the best level of protection against injury or financial loss for the. • But while those policies offer less protection and will not pay out if, for example, the policyholder’s vehicle is damaged, drivers are frequently charged more for them. • In the case of a 20-year-old mechanic living in south-east London and driving a 1.6 litre Ford Focus, the gulf between the cheapest policies available was vast.

  4. provided a third party insurance, fire and theft quote for the 20-year-old Ford Focus driver, but not for any of the other six motorists from different age groups. Aviva said: “We don’t allow vehicles over £5,000 in value on third party, fire and theft cover – the reason for this is we feel that a customer with a car worth more than £5,000 would want their vehicle repaired in the event of an accident.” • Despite the low level of third-party policies being offered and sold, it appears this type of insurance will not be disappearing any time soon. • Rod Jones from uSwitch.com said: “There will always be a market for third party as some consumers will persist in searching exclusively for it, and for some insurers the loss ratio will be acceptable to make it worth offering.”

  5. Some comparison sites already include features that make it easier to see a comprehensive quote. These include preselecting comprehensive on the quote generation pages, and making it easy to switch between different levels of cover on the results page. • All drivers have access to car insurance, as Pam Quinn of the British Insurance Brokers Association, said: “There is always a choice, but if you are confused about the insurance options available to you speak to a broker, rather than leaping in and buying an expensive and perhaps unsuitable policy.” • [Source: http://www.theguardian.com/money/2015/oct/31/third-party-insurance-holders-pay-more-money-for-less-cover]

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  7. Click to know more on Third Party Insurance https://www.bajajallianz.com/Corp/motor-insurance/motor-third-party-liability.jsp Thank You….

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