Car Insurance Policies, Understand The Small Print
No-claims discount: One of the imperative points of your insurance cover is the no claims discount (NCD). Depending on your insurers, you may get a saving of up to 57.5 percent or as low as 27 percent for a period of twelve months driving with no claims
For notching up four years of claim free driving you may reach a no claims discount of 60 to 70 % Some insurers offer a higher maximum to older drivers. If you make a claim your no claims discount could be less, by how much will be up to the insurance companies.In the best situation your NCD would be less 3 per cent. If you were to be below 50, this could bereduced by up to 22percent. You may obtainan even larger cut if you have to claim again within a 3 to 5 year period .
Protected noclaims discount: With a number of insurance companies, after 4 or 5 years , you can protect your NCD. This will cost on average betweent 10 and 15 per cent of your premium. Once your NCD is protected, making a claim once a year will not affect the premium.Some insurance companies will not affect your NCD if you make 2 claims,but other insurers will reduce it to as little as 45 per cent
Driving other cars: Some insurance companies permit the policyholder to drive other cars with thirdparty cover,during an emergency.Some insurers will allow the policyholder to drive other cars in emergency situations, with thirdparty cover.
Named drivers: Family members or partners’s policies can have named drivers added to it. They can drive that person’s car but cannot drive other cars with insurance cover. Some insurers also allow named drivers to build their own no claims.
Choice of repairer: If you do not use the insurers approved repairers, they will not pay for the repairs.
Courtesy car: Most insurance companies will provide you with a courtesy providing you have use an approved repairer.This is extremely useful if your car is off the road for a lengthy period.Then again there are those insurers who will only provide a courtesy car if you have an accident, not if your car was stolen. Other insurers will charge an extra premium for providing a courtesy car after theft.
Personal belongings: Should your personal belongings be taken, only some insurers will replace them with new ones. The majority take into consideration the age and condition of the item before they decide how much to pay.
Medical expenses and legal protection:If you require physiotherapy or dental treatment as a result of an accident some insurers will cover this cost. Any legal costs from a car insurance claim is covered by motor legal protection.
In car audio equipment: The majority of insurers will limit the amount of cover for equipment not fitted by the manufacturer. This may be as low as £100 but this can vary between insurance companies.
Sat navs: You should always check if your sat nav is covered. Even if it is covered it may not be worth claiming.Even though it is covered it may not be worth claiming. For a first claim the excess on your policy may only be 100 pounds and a cheap sat nav could cost less or very little more. When you make a claim you lose your no claims bonus and this in the long run will turn out to be more expensive.It could well be cheaper to purchase a new sat nav rather than losing your no claims bonus.
Age limits: With insurance policies there is often a lower and upper age limit. The upper limit tends to be lower if you are taking out a new policy.
This article has been written for publication by Brokers Online. Brokers Online offers uk residents access to many different kinds of financial products including life insurance and cheap loans.
Brokers Online aims to provide its clients with a huge resource of financial information including helpful articles and Frequestly Asked Questions. If you cannot find the answer to your question feel free to post a question on our weblog.
Brokers Online aims to provide its clients with a huge resource of financial information including helpful articles and Frequestly Asked Questions. If you cannot find the answer to your question feel free to post a question on our weblog.
This article has been written for publication by Brokers Online. Brokers Online offers uk residents access to many different kinds of financial products including life assurance and secured loans.
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