A Third Party Insurance (TPI) is the most basic kind of car insurance . This insurance will cover you if you have an accident, causing damage or injury to any other person, vehicle, animal or property. It does not cover any other costs like repair to your own vehicle.
So basically, if you crash into someone else’s car (van, bike etc.) or drive into your neighbour’s garden wall, the costs of repairs will be paid by your car insurer. If the passengers in your vehicle get injured due to an accident, they can also get compensation or cost of any treatment from your car insurance provider.
People may think that a third party insurance is the cheapest insurance cover in the market but this is not necessarily the case. Most third party insurers are young drivers under 25 who are eager to get on to the road by getting the least insurance cover legally required. But as young drivers are more involved in accident claims than older driver, some insurance companies have higher premium for young drivers who choose third party insurance believing that this the cheaper option.
There are multiple ways to get cheap third party car insurance. One of the best ways is to build up no claims discount by driving safely and carefully over time. Building no claims discount can take years, but the discounts offered by the car insurance providers will be huge, brining insurance premiums down by up to 50%.
Modifications to your vehicle even as simple as adding fancy alloy wheels or body kit can add a fresh look to your vehicle but at the same time, it becomes more attractive to thieves thus increasing your insurance premium. Don’t add unnecessary modification to your car.
Annual mileage is another important factor that determine the insurance policy cost. Basically, the more miles you drive, the chances of having an accident increase. So when buying a car insurance, the insurance company takes annual mileage into consideration when quoting you the insurance cover.
Paying your car insurance annually rather than monthly or quarterly installment can bring down your insurance cover. When choosing to pay your car insurance with installments, the interest or fees are also added to your insurance policy, thus making it expensive compared with if you pay in one go.
Whether or not you have no claims discount built up, you can still try to use our online car insurance provider search tool that compares around 60 car insurance providers to find you the cheapest third party car insurance. At Business Energy Shop, insurance comparison takes less than 5 minutes to get your details and display insurance quotes that allow customer to choose and switch online.