For most individuals, getting a car insurance policy means choosing a long-term plan that can be renewed annually. However, your normal car insurance is generally going to be limited to a specific type of vehicle, such as the one you use to drive to and from work. If for your next holiday you want to try out a larger car, or test drive something more extravagant for the weekend, the last thing you want to purchase is an annual policy.
What is Short Term Car Insurance?
Short term car insurance is an excellent way to take out the cover on a car without having to purchase a long-term insurance policy. Temporary or Short Term Car can be taken out for anywhere from a day up to a full month.
What Are Some of the Benefits to Temp Car Cover?
The primary benefit of temporary insurance is the cost. While short-term policies are naturally going to charge a higher rate than annual policies, the total cost will be much less due to the duration you take out the cover. As such, it could save you hundreds of pounds over an annual purchase.
However, there are some other ancillary advantages to taking out a policy. For instance, for many insurance providers, any claim made on a short-term policy does not count against your no claims bonus. The reasoning is that as the vehicle is unfamiliar, being involved in an accident does not increase your overall level of risk.
Temporary vehicle insurance is also ideal for travelling, which is precisely why many insurers provide European cover for an additional charge ranging from 15 to 20 percent of the standard quote.
What are the Types of Temporary Motor Insurance and Costs?
Most insurance providers only offer a comprehensive package for short term car insurance, although it is possible to get one that only covers third party damages, fire and theft.
Generally speaking, the temporary cover will cost around £10 a day depending on your level of risk. Just as with your annual insurance, factors such as the age of the driver, the type of vehicle, and the area in which you live will dictate the amount you pay for cover.
Who is Eligible for Short Term Cover?
Most insurance providers will only provide temp cover to drivers over the age of 23. The reason for this is the high level of risk that young drivers incur and the relatively small reward for covering someone in the short term. However, there are exceptions to the rule, provided a young driver meets certain safety requirements.
In all cases, drivers will need to hold a valid EU or UK driving licence for at least a full year to qualify. Overseas licences, such as those from Canada, Australia, and the United States are not accepted, so it is important to keep that in mind when making a short-term car insurance purchase. Lastly, any penalty points, previous claims, and other disqualifying factors can affect your eligibility.
How Do I Find This Insurance?
The best place to find temp cover at a competitive rate is online. Online quote comparison services will do the research for you, examining a database of eligible insurers to find the cheapest quote that covers the car and region you wish to drive in.
Furthermore, an online comparison site allows you to enter your information once and shop a wide array of policies, as opposed to going to each insurer individually and filling out the same forms. As such, online comparison sites are an excellent way to save time and ensure you are getting the most competitive rate.