The Features Of Car Insurance Cover
No-claims discount: One of the key features of your insurance cover is the no claims discount (NCD). Depending on your insurers, you may reduce the price by up to 57.5 percent or as little as 27 percent for a period of claim free driving
For notching up four years of no claims you can achieve a no claims discount of 60 to 70 percent A higher maximum is sometimes offered to older drivers. If you make a claim your no claims discount may be reduced, by how much will be up to the insurance companies. In the best cases your no claims discount could be reduced by 3%. If you were to be below 50, this could belowered by up to 22percent. You could pick upa larger reduction if you have to claim again within a 3 to 5 year period .
Protected noclaims discount: With certain insurers, after a 4 year period , you can protect your NCD. This will cost on average betweent 10 and 15 per cent of your premium. Having once protected your NCD , making a claim once a year will not affect the premium.Some insurance companies will not affect your NCD if you make 2 claims,but other insurers will reduce it to as little as 45 per cent
Driving other cars: Some insurance companies permit the policyholder to drive other cars with thirdparty cover,during an emergency.Some insurers will allow the policyholder to drive other cars in emergency situations, with thirdparty cover.
Named drivers: Family members or partners’s policies can have named drivers added to it. They can drive that person’s car but cannot drive other cars with insurance cover. There are some insurance companies who allow named drivers to accumulate their own no claims discount.
Choice of repairer: If you do not use the insurers approved repairers, they will not pay for the repairs.
Courtesy car: Most insurance companies will provide you with a courtesy providing you have use an approved repairer.This is very useful if your car is off the road. However, some insurers only provide a courtesy car if you have had an accident, not if it is stolen. If you car was stolen other insurers can charge an added premium for providing a courtesy car.
Personal belongings: Only a small amount of insurers will replace personal belongings with new ones.Very few insurers will replace your personal possessions with new ones. Most of them factor the age and state of each item before they make a decision on how much to pay.The majority of insurers factor the age and condition of the items, before deciding how much to pay out.
Medical expenses and legal protection:If you require physiotherapy or dental treatment as a result of an accident some insurers will cover this cost. Any legal costs from a car insurance claim is covered by motor legal protection.
In car audio equipment: The majority of insurers will limit the amount of cover for equipment not fitted by the manufacturer. This may be as low as £100 but this can vary between insurance companies.
Sat navs: You should always check if your sat nav is covered. Even if it is covered it may not be worth claiming. Your sat nav may not be worth claiming for although it is covered. Cheap sat navs cost around 100 pounds, so if your excess is 100 pounds its not worth it. If you claim you will lose you no claims bonus which may work out in the long run more expensive.If a claim is made you will lose your no claims bonus and this will workout much more expensive.
Age limits: They is usually a lower and upper age limit with policies. The upper limit has a tendancy to be lower if taking out a brand new insurance policy.
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Brokers Online aims to provide its clients with a huge resource of financial information including helpful articles and Frequestly Asked Questions. If you cannot find the answer to your question feel free to post a question on our weblog.
This article has been written for publication by Brokers Online. Brokers Online offers uk residents access to many different kinds of financial products including life insurance and loans.
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