Third Party Luxury Vehicle Insurance

Luxury vehicle insurance can be a very tricky subject to navigate with the different types of insurance available to the motorist within today's market. With this in mind here at Prestige car insurance we have put together a series of three articles to help explain the benefits and draw backs of the three main types of car insurance available. to the motorist.

Articles on third party fire and theft car insurance and comprehensive car insurance will follow this article which will concentrate on the most basic cover available to the car driver, third party car insurance.

As already mentioned third party car insurance offers the driver the least cover and protection out of the three main car insurance types available. However because it offers the least cover it is often the cheapest type of car insurance available to the motorist.

The fact that third party car insurance is the cheapest option in achieving a motorists legal obligation to have car insurance is maybe its only advantage. The cover that is provided by third party car insurance can be a draw back for many motorists. The problem is that if you are involved in an accident that is deemed to be your fault your third party car insurance policy will only cover damage costs of other parties involved leaving you to foot the bill for repair to your car.

Another drawback of a third party car insurance policy is the fact that you will not be covered for fire damage or theft of your vehicle. This is obviously a major draw back as both of these factors can be completely out of your control.

The table below summaries what you can expect to be covered against and what will not be covered under your policy in the event of an accident:

After reviewing the benefits and the draw backs of a third party car insurance policy it will be of no surprise that this policy is not often recommended by insurance companies. This policy will generally suit a motorist that has a vehicle of very low value that doesn't get used very often.

As prestige car drivers it is the recommendation of Prestige car insurance that you look to obtain a policy with a superior cover for your vehicle. To help you understand the benefits and draw backs of other types of policy that would better suit you as a prestige car driver read the other article in this series concentrating on third party fire and theft car insurance and the article on comprehensive car insurance.