Insurance advice for newly qualified drivers
As a learner driver or a newly qualified driver, you must have a valid insurance certificate covering you for third party liability.
There are different types of insurance that provide varying amounts of insurance cover for your car. The type of insurance you choose will not only effect the cover of your vehicle, but will have an impact on the cost of your car insurance.
Listed below are the 3 main types of car insurance provided. |
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Third Party:
This is the most basic insurance available and is the minimum coverage that allows you to drive legally. Any damage incurred to a ‘third party’, (damage caused by you to someone or something else) is covered. Your car is not covered. Paying a little more, you can get Third Party Fire and Theft. All other policies retain this Third Party component as their basis.
Third Party Fire and Theft:
Third Party Fire and Theft (TPFT) is the basic insurance package favoured by younger learner drivers on their first or second provisional licence, and people who prefer not to pay for fully comprehensive insurance. The fire and theft aspect covers you against damage to, or loss of your vehicle due to it being stolen or set on fire. Third Party means that your passengers are covered, and any people, property or cars that you might hit are also covered. Your car is NOT covered. Either are YOU. TPFT is the cheapest way of building up your No Claims Bonus before changing over to the significantly more expensive ‘fully comprehensive’.
Fully Comprehensive Insurance:
Comprehensive cover gives you full risks cover for your car. In simple terms, it means that you can claim for any damage caused to your vehicle by any means. Although certain exclusions can be found in the small print.
This is the highest in insurance, adding you and your car to the TPFT package. Thus Fully Comprehensive Insurance or "full comp" is also more expensive. Having a full driving licence and having it for more than two years helps keep premiums down. This would be suitable for any car over £1,000 (under this threshold tends to be TPFT cover).
Why is Insurance for newly qualified drivers so high?
Insurance companies know that new drivers are a bigger insurance risk than any other motoring group and here are the facts to prove it:-
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