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Car Insurance protects you, your vehicle and other drivers around you against liability in the event of an accident. It is a legal requirement to be covered by insurance in order to guarantee compensation is available in respect of injury to other people and damage to other people’s property from an accident. The primary use of car insurance is to provide financial protection against physical damage and injury resulting from traffic accidents. Car insurance can however additionally offer financial protection against theft of the vehicle and possible damage to the vehicle sustained from things other than traffic collisions.

Comprehensive car insurance cover is the most beneficial coverage as it includes additions such as providing a courtesy car while your car is being repaired, legal expenses insurance to recover your uninsured losses, roadside recovery schemes and vehicle repairs in case of breakdown. The advantages of ensuring that you have car insurance outweigh the cons as if you are uninsured not only are you breaking the law but uninsured motorists are an increasing burden on the economy and injuring people, sometimes fatally, every year. A recent report showed that uninsured motorists cost the economy over £500 million every year. Those who are caught driving without insurance face steep penalties such as having their vehicle impounded, a fixed penalty, collection charges and 6 points on their licence.

Car Insurance is Extremely Important

It is essential that you have car insurance if you own a vehicle. Even if you think you can’t afford insurance as it can be difficult to manage the high cost of car insurance premiums it is important to make vehicle insurance one of your high priority bills. If researched thoroughly your coverage can be reduced to the bare minimum through cheaper car insurance rates and extra service fees are easy to avoid by ensuring that payments are completed on time. A potential accident or traffic violation will cost you more in the long run if you are not fully covered. Car insurance can be bought in a number of ways, some companies deal directly with customers while others offer products via insurance brokers who are able to give you advice and recommend a variety of products to guarantee that the right choice is made to suit your circumstances. Insurance brokers shop around on your behalf to find the best quote available from the companies they deal with.

Personal information regarding vehicle details, use of the vehicle, ages and occupations of the people who will be driving it and any previously gained points or convictions for driving offences are required for a quote. Upon accepting a quote insurance documents will be sent which include the certificate, the policy and the schedule. The certificate proves that the vehicle is insured and the details of the auto insurance such as the names of the drivers insured and the dates for which the policy is valid. It is important that this document is kept safe and looked after as this is the document that provides legal evidence of insurance cover and is required should an accident occur. The policy sets out in full the terms and conditions of the insurance cover and finally the schedule gives details

Beware of New laws regarding Car Insurance

The new vehicle insurance law means that the registered keeper of a vehicle must keep it insured unless they’ve made a Statutory Off Road Notification (SORN). If you are driving a vehicle without car insurance and haven’t made a SORN you could face a penalty. Insurance Advisory Letters are issued by the Motor Insurers’ Bureau to the registered keepers of uninsured vehicles. This follows a check of the Motor Insurance Database (MID) – the UK’s central record of vehicle insurance. The letter advises the registered keeper that their vehicle appears to have no insurance and that without car insurance the registered keeper could receive affixed penalty from the DVLA or in a worst case scenario face a court prosecution with a possible maximum fine of £1000. It is important to note that the payment of a fine does not replace the need for insurance.

The British Insurance Brokers Association (BIBA) suggests that drivers can save money on their premiums by considering a lower car group. In other words if the vehicle is in a lower car group (the lowest group being 1) then money can be saved on insurance. Passing the pass plus test can result in a 30% saving on car insurance especially for a young driver. The pass plus test entails learning to drive in the dark, on the motor-ways and in general tougher conditions than experienced previously. Earning no claims bonuses can be advantageous, again in particular for young drivers. By earning the first year’s no claims bonus a young driver may be able to receive a 30% reduction in their next vehicle insurance premium. Limiting mileage and using an insurance broker are also beneficial. As mentioned before an insurance broker will be able to match the driver with the insurer who is best suited to their needs to achieve the most competitive terms. In addition opting for third party, fire and theft cover as opposed to comprehensive cover can save up to 40% on a premium. However it is essential to remember that while comprehensive cover will repair your car after a collision, third party, fire and theft policies are precisely that – covering only the third party and fire or theft incidents. Final tips include making sure that you can afford the excess as this is the first part of a claim that you must pay for and letting sure the insurance company knows about any modifications made to your vehicle.

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Get The Best Car Insurance Deals Now! What Type Of Car Insurance Do You Need?
July 10, 2013 //In most countries it is illegal to drive your vehicle on the road without vehicle insurance, therefore if you wish to own a vehicle, car insurance is something that you will have to look into and you cannot escape. When it comes to choosing your car insurance there are three types that you can choose to cover your vehicle. The first is Third party only which the most basic level of insurance, the next one is Third party fire and theft and then the next one up comprehensive is the type that gives you the most cover out of the three.

It is your choice which one you choose, but it is important that you understand what each type of insurance entails before you make your decision or else you could end up paying for a type of insurance that does not suit you and is costing you more than you can afford.

The first type of car insurance mentioned was Third party car insurance. This is the most basic level of vechicle insurance which you are legally required to have before you can take your car onto the roads. Accidents are common on the roads of today, there were in total in 2011 203,950 road accidents in the UK, therefore the government requires you to have at least a basic level of coverage on your vehicle. Third party insurance, if you cause an accident Third party insurance pays compensation to a third party in other words someone that owns the property that is damaged by the accident, or a person who has been injured in that accident. You may be asking, but why do I need insurance and thinking, I would rather just pay off the compensation myself. Well think about, it is essential to have insurance as the compensation you will pay after the accident can easily run into thousands or millions of pounds. For example, the cost of replacing a car, repairing a house or property or even to help someone rebuild their life if they have been seriously damaged and lost a limb or worse still if someone in that car was killed; it is very unlikely that you will be able to compensation at this high cost. If you are properly insured the insurance company that you chose will take care of it up to the limit of your vehicle insurance policy.
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NewsThird Party, Fire and Theft Insurance
July 10, 2012 //Furthermore it is important when choosing which insurance company to deal with that you do some research. As due to an increasingly competitive financial market many insurance companies offer special deals, for example even though Third party car insurance is the most basic level of insurance and therefore the cheapest some companies will give you more than the minimum, they may include; free European cover or a free courtesy car and if you struggle with payments some companies even offer flexible payment options. So often if you take your time in choosing your insurance company you will find you get value for money.

The next level up from Third Party is Third party fire and theft. What you get from this level of auto insurance is pretty self explanatory. Third party fire and theft, includes everything that you get with Third party insurance, plus it compensates you if your car is caught in a fire and destroyed of if it is stolen or damaged by theft. Moreover something to be aware of this that Third party, fire and theft will not pay out for any other sort of damage done to your vehicle. Considering that the cost of having your car repaired and reinstated to the road after a crash could add up to thousands of pounds, it is often worth thinking about getting the next level up even for Third party, fire and theft, this type of auto insurance is call comprehensive.
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NewsFully Comprehensive Car Insurance
July 10, 2012 //Comprehensive car insurance includes all of the coverage that you get from Third party, fire and theft and on top of this it pays for the cost of repairing your car if it is damaged in any way in an accident. If you have a car that is quite old and it is damaged your insurance company will assess and inspect the damage done to that car and work out what it would cost to repair, but only so it is repaired back to the condition that the car was before it was damaged. If they work out that the repairs will cost less that the car is actually currently worth, then the repairs will be given the go ahead by your insurance company and they will get the car back to you as soon as possible all fixed and ready to drive.

With comprehensive insurance, if the costs of repair to you vehicle is more than the vehicle is currently worth, then your vehicle will become what is called, ‘written off’ and the company will pay you its market value instead. Another thing to be aware of is that if the vehicle you are insuring is financed by hire purchase or a leasing company, it may be required that you have comprehensive insurance rather than any other basic level of auto insurance.

Furthermore as said before, the increasingly competitive financial market means that depending on the company that you choose, there often special deals and advantages with certain companies. For example some Insurance companies, when you take out comprehensive vehicle insurance with them offer, a free courtesy car, or maybe named driver no claims bonus or even free windscreen, stereo or sat nav repairs and sometimes even personal injury cover. Therefore as said before one of the most important things to remember when taking out car insurance is do your research and ensure you are getting value for money!

Usually your house is one of the most valuable assets you will purchase in your life. To make sure that you don’t lose a lot of money in the event of theft, vandalism, fire or flooding you really should think about a home insurance. Theft and burglary is a common issue in the UK, and a home insurance would give you the peace of mind that if this case the insurance would cover all the expenses for replacing the stolen items.

There are different policies available which differ in their cover and terms and conditions. Usually you can choose of contents insurance, building insurance, insurance for landlords and tenants and of course special home insurances for endangered properties.

Anyone can apply for a home insurance however there are still a few criteria that must be fulfilled. Most of them have to do with the property. For example it has to be in permanent occupation, has not been damaged by flooding in the past and is in a good state.

As there are many different policies you have to shop around until you find the insurance which suits you and your property best. There are special offers for each situation, whether you have a family, or live in a house or flat. Some home owners think that a home insurance is just an added expense and would not be worth it. However, the financial and personal loss in the event of burglary or fire is much worse than simply taking out insurance.

Taking out a loan to be able to pay for something now rather than later can be the perfect way to enjoy something at the best possible time, and it also can help to fix a financial emergency. Choosing the right repayments and terms means that one almost can forget about the expense of the purchase. But what happens if one’s personal situation unexpectedly changes? What if, due to an illness, an accident, or redundancy, one finds oneself unable to meet the monthly payments? The consequences can be serious – from fines to higher interest charges to a damaged credit score and debts, they all can turn one’s life into misery. Be it for personal loans, mortgages or credit card payments – peace of mind is easily acquired by taking out insurance. Payment protection insurance covers one in the event of losing one’s income.

Payment protection policies can be taken out together with a loan, credit card or mortgage, but also are offered by independent insurers. There are numerous providers who offer the best payment protection insurance at various prices and conditions. The costs for payment protection insurance will depend on health and age and also on the likelihood of redundancy. When looking for payment protection insurance, it is worth shopping around to find the best possible conditions. Before signing any contract it will be essential to read it through word for word to make sure what exactly will be covered and what not.

If anything happens to your home and your belongings, like for example burglary, a fire or flooding the consequences can be, added to the shock and pain and the loss of items of sentimental value, a serious financial burden. Depending on the damage it might be impossible to replace important pieces of one’s household, let alone precious pieces like jewellery or works of art. The worst scenario could be complete ruin if one hasn’t undertaken precautions by taking out a home insurance. A home insurance offers cover for a variety of risks, no matter if you are the owner of a house or flat or the tenant. Home insurance protect things like furniture, electrical devices, and valuables against events like fire, damage caused by flooding, natural disasters, explosions, burglary and vandalism.

The cost for a home insurance will depend on the kind of policy one chooses and will vary from insurer to insurer. Having good locks and alarm systems fitted will help to keep the premiums down. When taking out a home insurance, it is important that everything necessary is included in the cover and that the value of one’s possessions is estimated correctly. It will be also necessary to check one’s policy regularly to make sure that any new purchases will be included in the cover. On the other hand overprotection means unnecessarily high premiums. A good home insurance will be able to provide a policy tailor-made to one’s personal needs. Before deciding which home insurance is the best, it will be useful to calculate costs and fees of several companies.

Going on holidays is the best part of the year – much time goes into the preparation and also usually into the saving money for it. Having done everything to ensure some happy and relaxed weeks one should not miss also adding extra peace of mind by taking out travel insurance. Travel insurance offers protection for a variety of things which could go wrong when one is abroad. This could be a sudden illness or accident which might demand expensive treatments and medication and possibly transport back home by ambulance. It also provides cover in the event of accidents during winter sports, terrorist incidents and many more, depending on the policy. Having travel insurance also means that assistance and help will be provided in the search of doctors, in the event of a stolen passport or travel documents and if car keys as to be replaced.

Travel insurance will also replace stolen luggage and will allow buying basic equipment while waiting if it is delayed. But what happens if an unexpected illness forces one to stay at home? Lost money through for example cancellation fees and events already booked could easily prevent one from being able to make up for it at a later date. A travel insurance offers cover for this event and will replace the costs. Depending on the policy, it is possible to be also covered in the event of the tour operator’s going broke. Additional options are possible, like for example legal costs. Looking for the right travel insurance policy, one should work out before exactly which risks are likely and find a sensible balance between making sure one is covered sufficiently and not paying for unnecessary eventualities. Before signing, it is worth having a proper look at what exactly one is covered for.