The different types of motor trade insurance in the UK

Motor trade insurance is big business in the UK. Every vehicle on the road must have valid insurance and the volume of cars, vans, lorries, mopeds, scooters and motorcycles is immense and increasing. There are four main kinds of UK motor insurance:

Third party insurance
This is the most common and cheapest of the types. Third party insurance covers legal liabilities and against third party. With this insurance you can drive on public and private roads.

Third party fire and theft insurance
This kind of insurance begins with the same premise as third party cover but adds protection for a vehicle in the event of it catching fire or being stolen. If the vehicle is not stolen but is damaged in a thievery attempt, it is covered by third party fire and theft insurance.

Comprehensive insurance
If you want your vehicle to be protected from practically anything that could happen to it, then it’s comprehensive insurance you need. Comprehensive insurance covers for accidents, injuries, repair work and replacement. Generally, the newer and more expensive the vehicle, the greater the propensity to opt for comprehensive insurance. Premiums are high and will rise commensurately with the amount of cover you require. You can include loss of limbs, eyesight and loss of life, legal fees and courtesy car but each will add to the cost of the insurance.

Act Only
This kind of motor trade insurance provides the minimum amount of cover and is essentially just a document allowing you to be on the roads and comply with the need to have vehicle insurance. It is available to drivers with a poor record who cannot get regular insurance.

Those are the four types of motor trade insurance in the UK. When it comes to actually buying insurance it gets far more complicated. The Internet has made motor insurance consumer friendly giving vehicle owners access to a great number of policies either directly with the cover provider, comparison sites and brokers. It is now so much less hassle to shop around to find the best deal and save money each time you renew your annual policy.

www.bluangeltech.com is a leading UK motor trade insurance broker