Policy Price

Article by Richard Jones

Whenever you get behind the steering wheel of a car, it is possible that you may cause damage to other driver’s property, or injure, or even kill, yourself, other vehicle owners, passengers or pedestrians.

Motor insurance protects the owner, the vehicle and other motorists against liability in the event of any accident. It provides financial compensation to cover damage caused to drivers or their property.

In most developed countries buying cover for your vehicle is obligatory by law. For your car there is a minimum amount of cover required under the legislation.

You must have a valid driving permit for the category of motor vehicle you are driving. Presuming you are driving legally, with a valid driving licence and car insurance, you may claim as long as your insurance is valid.

There are certain factors that a car insurance policy will not cover, sometimes called “exclusions”, unless specifically included. Every automobile driver should be completely aware if such preclusions are included in the policy deed.

The cost of vehicle insurance can alter enormously. An insurance broker who knows the insurance market will be able to select the best policy for you. However, many factors will affect the amount you have to pay.

As well as the three main types of vehicle insurance, one of which is you must have by law, you may select to buy additional insurance, that can include breakdown cover.

In some cases, it is not obvious who caused the accident, and the amount of your liability cannot be determined. In this case, legal advice can be sought unless the insurance companies concerned are happy to settle the matter between them.

The expenses of pursuing legal action can be restrictive. Should this concern you, enquire about the cost of this additional cover in addition to the statuary requirements.

Insurers insist that you act with “utmost faith”. This signifies that you have to to tell them of any information that the company may consider important. Should you have been convicted of motoring offences previously, or have a bad accident record, you will probably have to pay an increased premium.

Another way of cutting your insurance costs would be to agree to pay the first portion of any claim.

If you have a automobile accident which brings about injury, you must provide your name and address, and details of your insurance policy to anyone who reasonably needs it. Assuming you are driving legally, with a valid driving licence and car insurance, you can claim assuming that as your policy is up to date.

Many insurance firms limit your insurance cover based on the use of your vehicle. This means that you may only be covered when using your vehicle for domestic.

UK law attempts to protect all drivers by designating precise rules for those who are allowed to drive, and afterwards throughout the time you continue to drive.

In the UK the least amount of cover is known as third party, which means that damage or injury to another person will be the responsibility of your insurance company. A car owner can opt for Fire and Theft with obvious benefits. A comprehensive policy covers you when your vehicle be damaged in an accident. In many parts of the world property and automobile insurance can be expensive in capital cities and cheap car insurance is difficult to track down without seeking advice from a qualified broker.

The so called Green Card is a certificate that is recognised in over 40 countries. Despite the fact that it offers no insurance cover, it is proof that the minimum legal requirements for third party liability insurance are insured.

In the USA, each State imposes its own laws involving auto policies with a minimum liability. For example in Delaware the numbers are 15/30/5. These numbers refer to injury, property, and the total insurance per claim. A driver with this legal amount, who might become liable for a higher figure, might be sued for the greater amount not covered.

In Canada, in addition to a minimum, it is obligatory that a driver has cover for both medical expenses and loss of income.

About the Author

Richard is a qualified insurance broker who specialises in cheap car insurance London, and has a specialist dept. for van insurance in UK