When people think about taking out car insurance in Spain they naturally assume that the cheapest option must be the most basic cover which of course is third-party car insurance.
New research recently undertaken by a major car insurance company reveal some surprising results, namely that in some cases third-party insurance was actually more expensive than fully comprehensive car insurance.
Naturally motorists are bound to expect and assume a third-party only policy would be the cheapest because they actually offer the least amount of cover. In fact this type of insurance is obligatory by Spanish law and so most people assume in order to be insured they can just take out this type of insurance.
One of the reasons these results are surprising is that many young drivers in Spain take out the third-party cover because it is the most minimum basic cover of attainable.
As we know with young drivers they are the most highest risk on the roads.
There is a reason that they are charged in many cases astronomical premiums and that is simply that statistically they do have more accidents than people who are older and more experienced on the roads.
Because of this the insurance companies have actually increased the third-party car insurance costs because they are being hit by higher claims as a result of accidents caused by young drivers often showing off to their friends or driving under the influence of alcohol.
Even if third-party insurance is slightly cheaper than fully comprehensive insurance, the benefits and extras in the policy of a fully comprehensive car insurance, means the decision is a no-brainer really. Typically you will get full breakdown cover which is invaluable when you break down Spanish roads and your grasp of the Spanish language is not so good.
This is just one of the benefits in fully comprehensive policies, the most major one being that even if an accident is your fault, the damage to your own vehicle and yourself is covered – apart from the compulsory and voluntary excess of course.
Remember that third-party car insurance will not cover any damage to your own vehicle if you are involved in an accident and it is your fault. Your car insurance will simply cover any damage incurred to the other vehicle.
So the message is simple – don’t just get a quote for third-party only insurance, not even bothering to ask how much the other options are.
Get quotations and price comparisons for third-party fire and theft as well as fully comprehensive car insurance in addition to the most basic third-party only option.
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