When looking for car insurance policies for young drivers, it’s important to know what differentiates the two main policies, third party insurance and fully comprehensive insurance, so that you can decide which kind of car insurance is right for you. Let’s deal with fully comprehensive insurance here.
As a young driver looking for cheap car insurance, fully comprehensive car insurance will likely be the most expensive of the options, but at the same time, it can cover you in a variety of situations where the other kinds of car insurance policies would simply leave you to take the financial hit alone. Standard fully comprehensive means that in situations, for example, where through an accident you cause injury to a person outside the car or damage to their property you will be covered. However, it also provides far more comprehensive cover for the things that might befall your vehicle: fire, theft of the vehicle, or accidental damage, such as opening the car door into an unseen bollard.
It’s also worth knowing, particularly if you’re a young driver who has their own car, but might also occasionally drive a family car too, that fully comprehensive car insurance will provide some insurance on the driving of another designated vehicle; but in that instance, your insurance cover will likely be downgraded to third party insurance cover.
While fully comprehensive car insurance cover will normally have the highest premium of the available types of car insurance, this in turn has led to the majority of new drivers picking third party insurance. Consequently, this kind of car insurance policy has taken on large numbers of young male drivers, who typically make the greatest number and most expensive claims, and the premiums have risen accordingly. This means that if you shop sensibly, you might be surprised by how small the difference in premium cost is, and that in fact getting fully comprehensive car insurance might be the smart move.