What is third party, fire and theft car insurance?
Third Party, Fire and Theft car insurance is the next step up from the basic Third Party cover and the extra advantage this policy has is that you can claim money in the event of your car being stolen and set on fire.
You should be aware of that you are most likely to have to pay excess should you claim for fire or theft. This excess is usually a sizeable amount ranging from £200 - £1000 depending on the insurance company.
- The theft and damage must be reported to the police authorities before you can make a claim with the third party, fire and theft car insurance policy.
- This insurance cover is often used by younger drivers and those who have low value cars.
- Third Party policy will also cover any property damage that is proven to be your fault in the event of an accident.
- Sometimes these cars are easier to break into, and as a result are more likely to be stolen and set on fire or even vandalised.
- This is a high risk policy to take out and thus making a claim can cause your premiums to rise significantly, prevention is always better than a claim - sound advice is to preferably have the car locked inside a garage at night, have security immobilisers fitted and think seriously about having a car alarm installed.
The third party, fire and theft car insurance policy is popular amongst young drivers and students who have typically a low value car to insure that is not worth spending hundreds or even thousands pounds a year on comprehensive car insurance.
The problem with this policy is that the excess charges are very high - so common sense is required to keep claim possibilities reduced to a minimum.
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