Posts Tagged ‘uk car insurance’

UK Auto Insurance Coverage

Thursday, September 23rd, 2010

On an entirely legal basis, every driver in the UK is obliged to purchase auto insurance with an absolute minimum of third party cover. However, there are actually three different levels of auto insurance available to UK drivers which fall into three different categories:

The minimum requirement of third party auto insurance covers the cost of any damage caused to the vehicle or property of another driver in the event of a motoring accident. Additionally, a third party policy will also pay to treat the injuries of another driver although the policyholder will not be covered for damage to their own vehicle.

Third party, fire and theft auto insurance policies provide the same levels of service as a basic third party premium but the policyholder is also covered in the event of theft or fire in relation to their own vehicle. However, third party, fire and theft policies do not cover the cost of accidental damage to the vehicle of a policyholder.

Comprehensive auto insurance policies provide full cover for the policyholder and any third party. This type of policy includes cover for bodily injuries to any party involved in a motoring accident as well as covering the cost of damage to both vehicles. Comprehensive auto insurance is usually more expensive than both of the third party options but premiums can be reduced by lowering the cost of deductibles when purchasing the policy.

Additionally, comprehensive auto insurance cover can also be adjusted to include breakdown cover or roadside assistance.

Over 50’s Car Insurance

Thursday, September 23rd, 2010

The UK auto insurance market has seen a number of changes in recent years. The arrival of company websites and price comparison initiatives has changed the way in which individuals purchase their policies forever. The change in the national insurance market has seen may speciality companies coming to the fore and over 50’s car insurance is another focused area that offers great deals for mature drivers.

In reality, over 50’s car insurance has always been competitively priced. Statistically, older drivers prove to be inherently safer than younger ones. Although less than 13% of all drivers in the UK are under 18, they are currently responsible for 35% of all road traffic accident fatalities. Because of this, older car users with a safe driving record are being recognised for the highway skills and over 50’s car insurance companies offer many advantages for older drivers.

The UK has one of the largest over 50’s car insurance markets in the world. Leading insurance companies such as Castle Cover and Endsleigh are even facing challenges from charity organisations such as Age Concern, who also offer over 50’s car insurance on their main website.

Most over 50’s car insurance companies offer a number of similar benefits including no upper age limit on policy holders, free monthly instalments, message services for younger family members if a policy holder is ever unfortunate enough to be involved in an accident and free courtesy vehicles on all comprehensive over 50’s car insurance policies to keep the mature driver mobile.

Third Party Insurance

Thursday, September 23rd, 2010

Third party insurance is the absolute minimum level of coverage that a driver must have when using a vehicle in the UK. Typical third party insurance policies make up the third and final tier of the UK insurance grading system and cover the liability of the policy holder in relation to accidental vehicle damage or personal injuries caused to other drivers in the event of a road traffic accident.

In most cases, third party insurance policies are purchased on a basis of affordability and the low value of the vehicle belonging to the policy holder. Additionally, many insurance companies will only be prepared to offer third party insurance cover to those that are considered to be part of a high-risk group. It is important to note that third party insurance cover differs from second-tiered third party fire and theft policies and does not cover fire-related damage or the theft of a vehicle.

As well as covering vehicle damage and any injuries sustained by another driver in the event of an accident, third party insurance coverage also takes legal fees into consideration should a court case arise. However, a policy will not take any related fines into account and these will be the sole responsibility of the policy holder.

Drivers of classic or antique vehicles may find that third party insurance coverage is their only option, especially if the vehicle is over 30 years old. Most insurance companies in the UK are not prepared to absorb the risk of high-priced replacement parts that are a difficult to source outside of the confines of modern vehicle driving.

Modern Day Insurance

Wednesday, September 22nd, 2010

The role of the modern day insurance company has changed significantly in the past five years. Because many major companies have withdrawn from providing a land-based service, television and radio advertising have become something of a daily feature in the lives of those living in the UK. Previously, insurers invested modestly in advertising and, instead, relied on passing trade, word of mouth and customer recommendations to build their reputation. Today, the modern day insurance company works strategically to promote their call centers and websites on an almost continual basis.

However, many modern day insurance companies are still competing fiercely when it comes to securing new custom and this is never more noticeable than when a potential customer looks at a price comparison website. The vast numbers of competing companies on these pages give the customer a chance to view multiple quotes as well as presenting them with the opportunity to compare differing levels of coverage.

The days of spending a Saturday afternoon trawling through a crowded town centre to visit just a small handful of land-based insurance companies are gone forever. Modern day insurance companies offer a fast and efficient means of deciding on an appropriate policy within minutes. Even though insurance brokers still have a role to play in the continually expanding insurance market, the advent of price comparison and company websites have seen modern car insurance options change beyond all recognition.

It is still prudent, however, for the consumer to take their time before rushing into a purchase. An attractive price is not always equal to an attractive policy and consumers are advised to judge comparisons on every aspect of their insurance cover before signing on the dotted line.