Why Is It Important To Have The Right Car Insurance?
Motor insurance is a legal requirement in Britain, with third party insurance being the bare minimum to legally use the road. However, it is strongly recommended that all drivers take a long hard look at their needs and find the right insurance for themselves.
This is important to avoid paying too much for a package that does not suit your vehicle or lifestyle or, even worse, puts you at risk of liability in the event of an incident you didn’t realise was not covered by your insurance.
Third party is an essential minimum
Though this advice is already provided in many parts of the internet, we cannot say enough how important it is that you do not drive any vehicle you are not insured on, even if you are only parking someone else’s vehicle.
The legal penalties for driving without third party insurance include an immediate fixed penalty of three hundred pounds. Six points will also be added to your licence – and in the event of any party choosing to go to court, you would face jail time and a permanent driving ban.
Outright ownership or lease ownership?
Over 80% of cars in the UK are not bought outright, but with some form of either loan or lease agreement. If you are leasing your car to eventually own it, then it is best to go for the most thorough insurance available so that it is guaranteed to be in the best possible shape at the end of your lease period.
There are fundamentally three forms of insurance available: third party; third party, fire and theft; and fully comprehensive. Fully comprehensive is recommended as most necessary for lease cars but is also a good idea for most drivers depending on their circumstances.
Business or pleasure?
Business insurance is vital if you travel to work in your car or use it to bring your colleagues along for your daily commute. Even driving to the station as part of a longer journey is viewed legally as commuting – and, therefore, as business travel.
It can be important to find the right business insurance if you use your vehicle for work in any of the ways described above. People who work in sales or other travel-intensive professions should look into a commercial travelling policy – while, for others, there are personal or general business policies for your vehicle.
This can all seem overwhelming to a new driver, and there is always a danger that the insurance packages offered to you will overcharge for a service you don’t need or will neglect to cover one of your essential needs. At times like this, you can feel a definite need for more information.
Many insurers cover single vehicles for business and pleasure and insure two drivers on one vehicle or offer multi-car insurance. However, one advantage of an insurance broker like Call Wiser is that, since it works closely with multiple insurers, you can approach the broker with the requirements of your perfect plan and they can help you find the best deal between all your potential insurers.