Fully comprehensive car insurance covers you for damage to your car if you’re involved in an accident and will pay out for the cost of repairs or pay you the market value of your car in the event it’s written off in an accident.
The value of a car reduces over time. So, if it’s old and no longer worth a lot of money, you might end up paying more for a comprehensive policy than your vehicle is worth.
However, as we’ve mentioned, third party cover might end up costing you more than a fully comprehensive policy anyway. Always check the cost of fully comprehensive before opting for a third party policy, even if your car is old and not worth much.