Third party insurance is the minimum level of cover required to drive in Ireland and means that, in the result of an incident, any damage to a third party is covered, but damage to your own car is not.
What does Third Party Cover mean?
In order to drive in Ireland you are legally required to have third party insurance in place at a minimum. As third party insurance only covers damage to a third party, but not your own vehicle, it tends to be the most affordable option when it comes to insurance. However, it’s also important to bear in mind that this policy will not cover any damage caused by fire or theft. Currently the AA does not offer Third Party insurance, but we do offer Third Party, Fire and Theft cover to give you a higher level of protection.
What should I consider before purchasing a Third Party Policy?
A third party policy makes most sense for younger drivers looking to keep down the cost of their insurance, or drivers with older or less expensive vehicles. The key thing to consider when purchasing a third party insurance policy is whether, in the event that you are involved in an incident, it would make more sense to simply replace your vehicle then have it repaired. If this is the case then a cheaper third party policy may be the right cover for you. However, if you have a new or more expensive car then comprehensive cover may better suit your needs.
Will it be cheaper?
In nearly all cases a third party policy will be the cheapest option available when it comes to car insurance. However, if you drive a more valuable car then it’s likely that any savings you would make by opting for a third party policy would be wiped out by the costs of repairing your vehicle in the event of an incident. For this reason it’s important to compare the prices for different levels of cover when purchasing a policy to ensure you get the right cover for your needs.
If you’re looking to reduce the cost of your car insurance it may be worth taking out sample quotes for a car you’re thinking of buying before you complete the purchase. Older cars or cars with bigger engines tend to be more expensive to insure, but by taking out sample quotes before you buy you can make sure that you will be able to afford the cost of insuring your new vehicle instead of realising after you find your dream car that the insurance costs are much higher than you expected.
As one of Ireland’s top insurance intermediaries, our aim is to provide you with the best value car insurance available, as well as making sure you get the cover that suits your needs. You can find out more and get a car insurance quote here.