What is third party only insurance?

This is not for you if you want yourself to be covered or your vehicle to be covered. This type of insurance will cover only your liability to others. It protects you should there be a claim made against yourself or the person driving your motor vehicle. Although Act Only insurance is the minimum required for you under law, since it doesn't cover you on private roads or property, third party only insurance is the first level of insurance which will cover you more than the protection which is required by the law.

Insurers look at your personal details when they calculate your premiums for this type of insurance. Your age, convictions, claims experience and driving experience are important, as are your employment status and occupation. How often the car is used is also vital, because if it is used for business, then there is more chance that you will be driving a higher amount of miles. The type of motor vehicle is also important.

Like any type of insurance, you should read the terms of your policy carefully. You may, with third party only insurance, be covered should you drive other cars. Someone else may also be able to drive your motor vehicle on this policy too.

Under the law, if an accident has been proved to be caused by you, then you are liable for any injuries to property or people in that accident. This includes cover for death. Your legal costs, which could run into a large amount of money, are covered as well, as you may be liable for the costs of your own solicitor, and the solicitor for the victims too.

Should you be in a car as a passenger, and you are being driven by a driver named on your third party insurance, then that driver is protected and not you. Should you suffer an injury, you can claim compensation from the person who was driving your motor vehicle. The reason you can claim is that the policy indemnifies the driver. But you should understand that the actual car isn't covered, whoever may be driving it.

An often asked question is about what happens if a thief stole your motor vehicle and then causes an accident whilst driving it. The problem with this is often that a thief is unlikely to have the money with which to pay for damage he/she has caused to property or people in an accident. Therefore, you will be protected by your third party insurance policy for damages and injuries. The law requires compensation for people who are injured in accidents.

Bear in mind finally that should you be subject to a third party claim, then your policy will cover you for the costs of an expert solicitor, but not for any fines.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Motor Insurance

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> Motor Insurance Advice.....
> What are the laws regarding motor insurance in the United Kingdom?
> What are the principles behind motor insurance?
> What types of motor insurance policy are available?
> What is third party only insurance?
> What is third party fire and theft motor insurance?
> What does a comprehensive motor insurance policy cover?
> What is excluded from comprehensive insurance policies?
> How do I claim?
> What to do if you have an accident?
> How do I claim if an accident causes damage to my car?
> How do I claim if the accident involves a third party?
> What do I need to do if using my motor vehicle abroad?
> How do I find the cheapest motor insurance premiums?
> How can I lower my motor insurance premiums?
> How are my insurance premiums affected by convictions, drink driving etc?
> Why do some motor insurance specialise in just young drivers?
> Why do some motor insurers specialise in just lady drivers?
> Why do some insurers specialise in higher performance motors?
> What are the road tax rates by specific type of vehicle?
> Who should I contact should I wish to report a problem with an insurance company?
> Who do I contact if I have a complaint against a finance house?
> Who should I contact should I feel I have been a victim of misleading advertising?
> Are motor insurance laws different in Ireland?
> Are motor insurance laws different in Scotland?
> Are motor insurance laws different in Northern Ireland?
> Are motor insurance laws different in Wales?