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A third party van insurance policy is often the cheapest way to insure your van. But what does third party van insurance cover? And how do you compare the various third party, fire and theft (tpft) policies on the market?
While third party van insurance doesn’t offer the same protection as a comprehensive policy, it does ensure you’re covered for damage to third parties in an accident.
The differences between comprehensive and third party van insurance
Tpft van insurance is the minimum legal requirement to drive a van in the UK.
It is designed to provide cover for damage to another person or property in the event of an accident. You are also able to claim if you car is damaged or destroyed in a fire or if it is stolen.
However, a third party, fire and theft van insurance policy would not pay out in the event that your own van was damaged or written off in an accident that was your fault.
So, while cheap third party van insurance may be your priority, remember that you won’t benefit from the same level of protection and peace of mind as with a comprehensive van insurance policy.
Furthermore, comprehensive van insurance cover is also likely to provide you with other features and benefits that you may find useful.
What to look for when you undertake a 3rd party, fire and theft van insurance comparison
When shopping around for cheap third party van insurance you should take several factors into account:
- Does the policy offer third party cover or third party, fire and theft van insurance? Insurers often offer two different types of cover and so make sure you don’t get them confused as the latter will give you protection against fire and theft while the former won't
- Whether the policy has a maximum vehicle value. Some third party van insurance policies will have a lower maximum vehicle value than comprehensive policies
- Whether ‘replacement vehicle’ cover is included. This ensures you have a replacement van if yours is off the road after an accident but is less common on tpft van insurance policies
- What the policy excess is (the amount of any claim you pay yourself). The cheapest third party, fire and theft van insurance quotes may have a higher compulsory excess but this means you will have to pay more in the event of a claim
- Whether a no claims discount is available and if you're able to protect it
Finding cheap van insurance quotes online
More and more people are researching the cost and quality of van insurance cover online and this is generally the best way to find the cheapest van insurance quotes.
While cheap van insurance quotes will often be available for third party, fire and theft cover the prices will differ significantly from insurer to insurer.
It is often worth undertaking both a comprehensive and a 3rd party, fire and theft van insurance comparison. You may find that the difference in price is low and that it is worth paying a little bit more for comprehensive van insurance protection.
