Third Party Fire And Theft Advantages And Disadvantages

What is Third Party Fire and Theft?

Third Party Fire and Theft is a type of car insurance which covers you against damage caused to another person or property in an accident. It also covers you if your car catches fire or is stolen. It is sometimes referred to as ‘Third Party, Fire and Theft insurance’ or ‘TPFT’. It is a more comprehensive type of car insurance than Third Party Only (TPO) insurance, which just covers you for damage caused to other people or property in an accident.

Advantages

Third Party Fire and Theft can be a more cost-effective way to insure your car than a fully comprehensive policy, as it generally includes all the benefits of Third Party Only insurance, as well as additional cover for fire and theft. It can also be more suitable for people who own older cars and are looking to save money on their car insurance.

Third Party Fire and Theft policies also provide cover for the cost of repairs to your car if it is damaged in an accident caused by another driver. This means that you will not have to pay out of pocket for any repairs and can get your car back on the road in no time.

Disadvantages

Third Party Fire and Theft policies do not cover you if you are responsible for an accident. This means that you may have to pay for any damage caused to your car if it is your fault. This could be very costly and is something to bear in mind before taking out a Third Party Fire and Theft policy.

Third Party Fire and Theft policies also do not provide any cover for accidental damage to your car, such as dents, scratches and broken windows. If you do not have the cash to repair any accidental damage to your car yourself, then you may want to consider taking out a fully comprehensive policy, which does include this kind of cover.

Additional Cover

Third Party Fire and Theft policies can also be tailored to include additional cover, such as breakdown cover, medical expenses and legal expenses. If you are looking to save money on your car insurance and are happy to pay extra for additional cover, then this could be a good option for you.

Conclusion

Third Party Fire and Theft policies can be a good option for those who own an older car and are looking to save money on their car insurance. However, it is important to bear in mind that this type of policy does not provide cover for accidents which are your fault, or for any accidental damage to your car. If you are looking for this kind of cover, then you may want to consider taking out a fully comprehensive policy.