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Why get a motor insurance quote

Motor insurance is insurance purchased for cars, vans, trucks, motorbikes and motorcycles and other vehicles. Its primary use is to provide protection against losses incurred as a result of traffic accidents and against liability that could be incurred in an accident.

The UK Road Traffic Act requires all motorists to be insured against their liability for injuries to others (including passengers) and for damage to other persons' property resulting from use of a vehicle on a public road or in other public places. This is called Third Party Insurance. It is an offense to drive your car, or allow others to drive it, without at least Third Party insurance whilst on the public highway, on private land no such legislation applies.

Insurance Excess
Motor insurance excess is the fixed contribution you must be payed each time you make a claim on your insurance policy. Normally the payment is made directly to the accident repair garage when you collect the car. If one's car is declared to be a write off, the insurance company will deduct the excess agreed on the policy from the settlement payment it makes to you.

Compulsory Excess
A compulsory excess is the minimum excess payment your insurer will accept on your insurance policy. Minimum excesses vary according to your personal details, driving record and insurance company.

Voluntary Excess
In order to reduce your insurance premium, you may offer to pay a higher excess than the compulsory excess demanded by your insurance company. Your voluntary excess is the extra amount over and above the compulsory excess that you agree to pay in the event of a claim on the policy. As a bigger excess reduces the financial risk carried by your insurer, your insurer is able to offer you a significantly lower premium.
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Updated On 23 November 2017