When it comes to choosing car insurance there are 3 basic options available in the market – Third Party, Third Party Fire & Theft and Comprehensive. Which option you choose will depend on the level of cover you require and how much you’re willing to pay. Below we’ve explained these 3 options in detail and outlined both the benefits and drawbacks of each.
Third Party car insurance is the minimum level of cover required by Irish law. If you have an accident and are at fault, Third Party car insurance will only compensate the other parties involved. This could be for damage to their vehicle or any injuries that they sustain. You will not receive any compensation for damage to your car or injury to your person.
Third Party insurance will also not compensate you for loss or damage to your vehicle due to fire or theft.
The cover you get with Third Party insurance is pretty limited and you still leave yourself open to significant losses. Because of this Allianz Ireland do not offer Third Party cover policies to our customers for the permanent vehicle on cover.
You may have heard of a policy benefit called Driving Other Cars which Allianz Ireland offer as an optional cover on your Private Motor policy. It is worth noting that this cover applies only to the Policyholder and is restricted to Third Party cover as described above.
Third Party Fire & Theft
Third Party Fire & Theft insurance provides the same level of cover as Third Party but with added cover if your car is stolen or damaged by fire.
Like Third Party if you are at fault for an accident it will NOT cover you for damages to your car or any injuries which you sustain. If you are not at fault, the insurance of the responsible party will cover your costs.
Comprehensive insurance provides the same level of cover as Third Party Fire & Theft but will also cover you in the event of an accident or damage caused by vandalism. With comprehensive cover you will receive compensation for the damage to your own vehicle even if you’re at fault for the accident.
Not surprisingly, comprehensive insurance is more expensive because of the level of cover that it gives.
Which Option Should I Choose?
Although no one expects to be in an accident, it can happen. Your car insurance should give you peace of mind and minimise worry and stress in the event that it does.
Of the 2 options we offer, which one you choose is really up to you! We always try to provide our customers with the broadest range of cover to ensure full protection and peace of mind in the event of an accident. You can find more detailed information on the features and benefits available with Allianz Third Party Fire & Theft and Comprehensive Insurance here.
Alternatively give us a call on 01 448 48 48 and one of our customer service representatives will be delighted to help.
This guidance is for general information purposes only and does not constitute any form of advice or recommendation by Allianz. Readers should not rely solely on the information in this blog and should always seek professional or legal advice on the guidance provided.
Acceptance criteria, terms and conditions apply.
Information correct as of April 2017. Calls may be recorded.
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Please note: *Minimum premium of €284 applies. The premium reduction does not apply to the personal accident, personal effects, windscreen cover or breakdown assistance options.