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What is Third party only Insurance?
If you want yourself to be personally covered against accident or your vehicle to be covered you should consider a more comprehensive form of car insurance.
- What are the principles Motor Insurance is built upon?
- During the process of applying for motor insurance you will be asked for many details ranging from personal details to location and security based questions. As with all insurance you are well advised to answer any and all questions as honestly as possible in order to ensure any claims are fully met by your insurance company in the event of an accident.
- What is Third party fire and theft Motor insurance?
- Whilst technically your legal requirements for motor insurance are covered by a third party only policy they only protect the people with whom you share the roads, not yourself. The law requires that people who are involved in an accident that is not caused by themselves, be compensated. So, with third party insurance you may be protected against other people's claims against you, but not if you are responsible for the accident.
- Why do some Motor insurers specialise in just lady drivers?
- Every Motor Insurance company is different, each have specific market niches that they try and specialise in, some choose mature drivers, some lady drivers and some young drivers.
- Who should I contact should I wish to report a problem with an Insurance Company?
- The general insurance industry is now regulated by the Financial Services Authority (FSA).
- Can I use my car for business use?
- Class SDP. This class of motor vehicle use is for the policyholder and Named Drivers only using the vehicle for social, domestic and pleasure
Although technically ‘Act Only’ insurance is the minimum form of car insurance required for you under law, in practice it is very rare. Most insurers offer 3rd party as the minimum form of cover in their portfolio.
Insurers consider your personal details when they calculate your car insurance premiums. Your age, driving convictions, claims experience and driving experience all effect the cost of your premiums, as is your employment status and occupation. How often the vehicle is used also effects the premiums because if it is used for business purposes, then you will probably be cover greater than average mileage. The type of Motor vehicle also has a large effect upon the premiums.
Like any form of insurance contract, you should fully read the terms of your policy very carefully. In some circumstance you may be covered to drive other cars, in some you may not. Likewise others may also be insured on your car.
NOTE check your policy documents before allowing others to drive your vehicle.
Under the law, if an accident is proven to be caused by you, then you are fully liable for any injuries to property or people during that accident. This includes cover for death and serious illness such as loss of a limb. Your legal costs, are covered as well.