What is insurance?
Motor insurance is a way of protecting yourself against the financial risks of an accident, including repairs and medical costs. If you own a roadworthy vehicle, you must by law have at least third-party insurance. This covers the other party’s damage and injuries when you're involved in an accident and you're at fault.
Two other common types of UK motor insurance are:
- Third-party, fire and theft - which covers damage to others after an accident in which you're at fault
- Comprehensive - which also covers damage to your vehicle as well