Third Party Fire and Theft car insurance is often considered the least desirable type of insurance; Comprehensive insurance is usually thought to be the type of car insurance you should strive for.
But even though the cost of repairs to your car won't be covered under a Third Party Fire and Theft policy, there are definitely some situations where you might actually be better off choosing it.
How old is your car?
For cars over a certain age, there's a higher chance that an insurance company will write it off after an accident. That's because it can cost more to repair than its market value. So if your car is seven years old or more, give careful thought before paying out for Comprehensive car insurance. You could save more by choosing Third party Fire and Theft cover.
When you are getting quotes to insure your car (or at renewal), ask for quotes for fully comp and Third Party, Fire & Theft cover. Compare these with the market value of your car. You must factor in to your calculations that if you do opt for the lower level of cover, you won't even be paid the write-off value of your car if you have an accident.
Over one year, you probably won't make a saving, but you could be in profit over the accumulation of savings of several years.
Are you a young driver?
The cost of car insurance has spiralled crazily for young and inexperienced drivers in recent years. Some young drivers are paying more for their insurance than they do for their first car!
Cheap car insurance for young drivers is probably a thing of the past, but it's not impossible to keep costs down by careful management of insurance cover. It's quite often cheaper to buy Third Party Fire and Theft car insurance if you're a young driver.
There is, however, a caveat to this: if you own a more expensive car, or if your car is quite new, be careful about opting for third party, fire and theft car insurance. It will be very expensive to repair a newer car and third party, fire and theft insurance won't pay the bill.
Are you a low mileage driver?
You could save money on your car insurance by taking out third part, fire and theft cover if you drive very low annual mileage, or if your car is kept off the road for long periods of time. These factors reduce the risk of an accident, so if you're willing to bet on shortened odds, Third Party Fire and Theft may be a sensible solution for you..
It's important to consider your circumstances carefully, even if a lower level of insurance is cheaper. Ask a reputable insurance broker for advice, and don't be afraid to shop around for the best deals.
Insure Your Motor helps its customers find the cheapest Third Party Fire and Theft insurance and gives advice to help you compare costs.
Article Source: http://EzineArticles.com/?expert=Oliver_Matlock
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