When comparing
quotes from differnet Internet car insurance companies or
even from a list of quotes offered by a broker, you should
at the same time compare the levels and limits to the covers
offered. You should pay particular attention to what is not
covered under the car insurance policy. Sometimes it is possible
to get an insurer to endorse the policy with a particular
level of cover otherwise excluded from the standard level
offered.
What might be covered - Read the wording
carefully if you don't want a shock if and when you claim!
A comprehensive policy may cover you for certain
extras but any claims you make may nevertheless be rejected
or reduced if you fail to follow certain conditions of if
there is a hefty ‘excess’ (the first part of the
claim that you have to pay). examples of excesses and exclusions
to cover include:
• You may have to pay the first part of any claim for
theft of the car if it was not kept in a locked garage.
• Claims for lost or stolen possessions may be refused
if you did not keep your belongings out of sight in a locked
car.
• Money and documents may be excluded altogether.
• There may be limits on what you can claim for custom-fitted
audio equipment, car telephones or other electrical accessories
– although there may be no limit for such equipment
fitted by the manufacturer as part of the standard specification
for your car.
• It is very likely that you will have to pay the first
part towards any claim for damage or loss, but this excess
could be much higher if your car was being driven by a young
driver of under 21, for example, or perhaps by the holder
of a foreign driving licence.
• You will have to pay the first part towards any claim
for replacement glass, the glass excess for a smashed windscreen,
for example. However it could be a lot more if you do not
use your insurer’s preferred suppliers. eg autoglass.
• Personal accident claims may not be paid for people
over a certain age
• Some car insurance policies will include insurance
for legal expenses cover connected with your car, while others
may ask you to pay extra for this.
What is not covered under your car insurance
policy!
No car insurance policy will cover you if you
drive without a valid driving licence or if you do not keep
your car in a roadworthy condition.
You will also find that
you will usually not be covered for amongst others:
• Wear and tear of the car
• Loss as a result of the car depreciating in value
• Mechanical and electrical breakdown
• Tyre damage caused by braking or by punctures
• Theft of, or damage to, the car if you left it unattended
with the keys in the ignition (e.g. when you went to pay for
petrol)
• ‘Theft’ of the car by deception - for
example. if you sell the car to a person who manages to make
off with the car before you have properly received payment
for it.
If you buy a policy that insures you for
third party, fire and theft, it should cover damage as a result
of theft or attempted theft but theft itself may be excluded
altogether if the car is not normally kept in a locked garage
at night. Unless you choose comprehensive cover, you will
not be covered for any accidental damage to the car.
You should also be aware that you will
lose your no claims bonus, if it is not protected, if you
make a claim for any type of damage, with the usual exception
of windscreen cover. Therefore you should always consider
whether it is cost effective to carry some of the risk available
by yourself.
All claims are sent to a central database run by the Claims
Underwriting Exchange and other insurance claims databases
such as Project Hunter which actively searches all claims
for fraud.
Step 5 - How to cut
the cost of your car insurance - legally!
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Services Authority for the arranging and selling of car insurance.
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