Let us create a 3D eBook for you!
Let us create a 3d Digital eBook for you! DigyCat.com

What is Car Insurance?


Car Insurance is compulsory in the UK. You are required by law to have a policy to cover your liability to other road users.

The Road Traffic Act requires all motorists to be insured against their liability for injuries to others (including passengers) and for damage to other people's property resulting from use of a vehicle on a road or other public place. It is an offence to drive your car or allow others to drive it without insurance.

Owning and driving a car means taking on many risks to yourself and others. When a traffic accident happens, damage, injuries, loss or all of these factors may be inflicted upon you and others. Damage and loss of your property may also occur. Fire, theft, vandalism and natural disasters are other possible risks.

Car Insurance protects motorists and drivers against liability in the event of accidents they may cause. It can also provide cover for the motorist's own vehicle.

Car insurance is what safeguards you against loss due to traffic accidents, thefts or other reasons. Taking out car insurance is very important as insurance is what secures you from economic loss or damages. In case you do not have car insurance and you are involved in an accident, in spite of who is at fault, you will be paying the compensation concerned with damages. Car insurance is designed to protect yourself and others against these risks.

Many different types of cover are available, ranging from third party cover which protects individuals against liability should they injure a third party or cause damage to a third party's property, but does not provide any cover for the individual's own vehicle or property, through to comprehensive cover, which can offer protection for accidental damage, theft, fire damage as well as liability towards third parties. The minimum legal requirement for car insurance to drive in the UK is Third Party Only,

Car insurance is a contract between you and the insurer, specifying each party's rights and obligations. Essentially the car insurance company promises to provide specific coverage for you in return for your payment of the car insurance premium.

It is vital to know what your car insurance policy covers. It could be a complete and comprehensive policy that covers you for all risks that might be surrounding your car. The basic requirement is that in the event of an accident, you are covered for the compensation that you may have to pay for injury to other people and their vehicle. This is an amount that could run into several thousands which will be covered in the car insurance policy.

There are two main types of car insurance policies available in the UK :

Third Party

Third party insurance covers the insured when driving on private property as well as on public roads. This policy offers protection against legal liabilities as well as covering third party claims.

Comprehensive

Comprehensive insurance cover is the most popular form of cover, the most important addition being accidental damage cover, where policyholders can get their own vehicle repaired in case of damage. For people who want to be covered against as many risks as possible, then comprehensive policies is the solution.

You should read your car insurance policy carefully to ensure it gives you the level of cover you are seeking. There should be no small print or difficult language in modern insurance policy documents. If you are unsure about what the policy does or does not cover then just ask your insurer or insurance adviser to explain.

You may freely reprint this article provided the author's biography remains intact:

About The Author

John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the http://www.directonlineloans.co.uk website.


MORE RESOURCES:

Insurance - Google News

This RSS feed URL is deprecated

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

Insurance Industry Bands Together to Make a Difference in North Carolina City - Insurance Journal


Insurance Journal

Insurance Industry Bands Together to Make a Difference in North Carolina City
Insurance Journal
A group of insurance and risk management professionals are working together to make a difference in one of North Carolina's largest cities. The group, Community Matters: Insurance Partners of Charlotte, started in 2012 to help raise funds to build a ...

Firms buy insurance 'in mad panic' as cyber-attacks soar - BBC News


BBC News

Firms buy insurance 'in mad panic' as cyber-attacks soar
BBC News
With cyber-attacks increasing in frequency and severity, many companies are turning to insurance to cover their mounting losses. But can insurers quantify the risk accurately and could insurance lead to corporate complacency? Many firms feel like they ...

and more »

5 Important New Insurance Executive Changes - ThinkAdvisor


ThinkAdvisor

5 Important New Insurance Executive Changes
ThinkAdvisor
5 Important New Insurance Executive Changes. Symetra's benefits division is getting a new head. Harry Monti (Photo: Symetra). Symetra Life Insurance Company has named Harry Monti to be the senior vice president in charge of its group life and ...

School system insurance benefits raise questions - Crossville Chronicle


School system insurance benefits raise questions
Crossville Chronicle
The Cumberland County school system may have under-collected more than $1.1 million in insurance premiums from certified personnel, Human Resources Director Liz Broderick told the Cumberland County Board of Education during the Jan. 6 work session. “We ...

Have expensive insurance? Thanks to Irma, it may soon go up - WTSP 10 News


WTSP 10 News

Have expensive insurance? Thanks to Irma, it may soon go up
WTSP 10 News
These cases often involve situations where AOBs have been signed over to a contractor who then has their claim denied by the insurance company. This leaves the policyholder in limbo, sometimes with unfinished work on their home, other times liable for ...
In first week of Session, Florida House took big steps toward insurance reform Florida Politics (blog)

all 3 news articles »

Nationwide Insurance Rolls Out Proof of Insurance on the RiskBlock Blockchain - Bitcoin Magazine


Bitcoin Magazine

Nationwide Insurance Rolls Out Proof of Insurance on the RiskBlock Blockchain
Bitcoin Magazine
“The current way that drivers provide proof of insurance is cumbersome and uncertain,” said Christopher G. McDaniel, executive director of The Institutes RiskBlock Alliance in a statement. “Sharing proof of insurance through blockchain is key to ...

and more »

Insurance billing notices threaten young adults' confidentiality - Reuters


Insurance billing notices threaten young adults' confidentiality
Reuters
By Ronnie Cohen(Reuters Health) - Young adults can remain on their parents' health insurance policies until they turn 26, but when they use it for counseling, pregnancy tests, addiction treatment or anything else, insurers frequently notify their ...

and more »

Another lesson from Montecito — even in semi-arid Southern California, we need flood insurance - Los Angeles Times


Los Angeles Times

Another lesson from Montecito — even in semi-arid Southern California, we need flood insurance
Los Angeles Times
Mudslide usually is excluded from typical home insurance. Instead, it is covered by flood insurance. And it is a reasonable bet that few inland Montecitans have flood insurance. Why would they? They simply couldn't conceive of being flooded out of ...

and more »

High-End Wealth Managers Are Embracing Private Placement Life Insurance (PPLI) - Forbes


High-End Wealth Managers Are Embracing Private Placement Life Insurance (PPLI)
Forbes
Private placement life insurance is becoming a staple on the high-caliber wealth manager's platform. Lacking this tool can often be a serious missed opportunity for financial advisors and their affluent clients. But, that need not be the case ...

and more »

LargeFriends.com - the best dating site for plus-sized singles!
SuccessfulMatchCentral.com - the best dating site for plus-sized singles!

PreLaunchX

DigyCat Domain Is For Sale - $105,000 For Enquiries eMail Us

© www.DigyCat.com - 2012

home | site map | links