Comprehensive and third party car insurance
It has been reported by Sainsbury Finance there is an upward trend towards using the cheapest car insurance in order to save costs.
A large percentage of car owners who have comprehensive cover on their vehicles are now downgrading the policy to third party cover.
The research showed comprehensive covers for cars was eleven times more expensive than the car insurance policies which offered less protection.
The result shows that short term savings can be made, but in the event of an accident car owners will be paying out more in repairs. The cost to have their vehicle back on the road may work out more than the original premium quoted for a fully comprehensive cover.
The survey showed that most car owners would be more in favour of buying a second-hand car rather that a new one due to the overall cost of car insurance.
If you are in an accident it will help to speed up your claim if you have all the information available for your insurance provider.
Details required by the car insurers are as follows:
The model of the car and the registration number. The extent of the damage to the car, and is the car is driveable. Name and address of the other driver involved in the accident.