My Family

My Family

Tuesday, 24 January 2012

Guest Post - Choosing the most suitable car insurance for your family

A Guest Post - Choosing the most suitable car insurance for your family.

The family car is a workhorse that is hard to do without. So when it comes to choosing car insurance for this most vital of family possessions, it’s essential to get cover that’s both dequate and good value. Remember, not all policies are equal.

Third party - This is the minimum level of insurance required to comply with the law, covering only damage to a third party vehicle in the event of an accident.As with all car insurance, what isn’t covered is just as important to understand as what is. In the case of most third party insurance, if the accident is your fault, you will have to pay for repairs to, or the replacement of, your car. Crucially, you will not be protected from medical claims made by occupants of other vehicles involved, or from passengers in your own vehicle.

Third party fire and theft - As implied by the name, this is similar to a third party policy but you are also covered if your vehicle is stolen or catches fire.

Fully comprehensive - This covers the cost of all damages and injuries sustained by you or your passengers and those of the third party, regardless of who was at fault. It also covers the cost of damage to your vehicle in case of fire or theft.

Read the details - As is the case with all car insurance policy agreements, always take care to read the small print to ensure that you get what you think you are paying for. Let’s now look at some of the optional extras that make some policies stand out from the crowd.

Breakdown cover - Check to make sure that the cover offered is appropriate to your circumstances. Is it roadside assistance that you need or a full relay service? Does the cover apply to the policy holder only, or named drivers too? Many other financial products offer breakdown cover as an enticement so do make sure that you are not duplicating your protection.
Courtesy car - For a busy family, a courtesy car can mean the difference between business as usual and total chaos. Again, check that the cover offered lives up to your expectations.

Replacement car seat - Some insurers offer replacement child car seats in the event of an accident. Car seats are expensive and should not be used again if you’ve had anything more than the most minor prang, so this cover is well worth considering if you have young children.

Cover While driving abroad - If you intend to make one or more trips abroad for family holidays then check that your insurance policy offers you sufficient cover for your needs while you are away.

Choose wisely - When choosing the best car insurance policy for your family, price is only one factor to consider.

By cutting back on the level of cover, you might be able to reduce the cost of your car insurance but make sure it’s not a false economy. Similarly, if you are willing to pay a higher excess then your premium will be reduced, but will it really be affordable if you have to make a claim?

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