You may have been bouncing around this site, wondering whether you should request car insurance quotes or motor warranty quotes. You may even be wondering which is the more worthwhile investment. Fear not! In this article we unpack what makes these car insurance options unique and help you decide once and for all, which is best for your budget.
What’s Covered Under Car Insurance?
To put it simply, a car insurance policy is your financial safety net in the aftermath of an accident or theft. As mentioned in our article on the factors that influence how your car insurance is calculated, there are three different types of car insurance: comprehensive, limited, and third-party only.
Comprehensive car insurance, as the name implies, has you covered for most risks to your vehicle. Whether it be an accident, theft, damage by third parties, or even a fire, your insurance provider should pull through for you in all of these scenarios.
Limited car insurance is a cash-comfortable middle ground for many people. While it doesn’t cover you for every eventuality like comprehensive cover, it should include basic liability cover such as theft, minor accidents, and damage caused by fire.
Third-party cover is the cheapest option and – shocker – only covers the insured for any damage to another person’s car that is their fault. In other words, any damage you are responsible for is carried by the insurance company. The repairs to your car, however, come out of your pocket.
Obviously different car insurance companies offer different perks in their policies, but the basics should remain as described above. However, depending on the insurer of your choice you may also enjoy some added benefits, like regular no-claim cashback rewards or 24-hour roadside assistance.
What’s Covered Under Motor Warranty?
A motor warranty or motor warranty plan is a promise made to you by your car’s manufacturer to cover the cost of repairing and/or replacing faulty components. If one of these parts malfunctions due to no fault of your own, the manufacturer is responsible for repairing or replacing said part at no extra cost to yourself.
There are two types of motor warranty, apart from the warranty you get on your car when buying it from the manufacturer: Pre-owned and extended. Both of these warranties are suitable for car’s, whose warranties have already run out. A pre-owned warranty covers the repair/replacement of components specified under the respective policy. An extended warranty, meanwhile, is typically added onto a standard motor warranty, thereby extending the years and mileage originally provided for by the manufacturer.
Common vehicle components that fall under your average motor warranty are the engine, gearbox, electrical components, and fuel system. Less common is the inclusion of a car’s audio system, and sensors.
Should I Invest In Car Insurance Or Motor Warranty?
The short answer to that is: why not both? A car accident or mechanical breakdown can always happen when your wallet least expects it. Get covered for either with the best car insurance and extended motor warranty for your budget. Apply for quotes in minutes for these and other car insurance products with All Things Motor.