Simply put, the insurance excess is the amount of money you would need to pay towards any claim you make. For example if there was damage costing £300 to fix, and you had a £100 excess, the insurance company would pay out £200.
With younger drivers, some insurance companies insist on a high excess, or you can opt for a higher excess which will probably give you a lower insurance premium.
Rob Laird - ADI
RPL Driving School
Thursday, 23 October 2008
Wednesday, 22 October 2008
Different Types Of Bike & Car Insurance
There are 3 main types of insurance when it comes to vehicles:
1. Third Party Only - the minimum legal requirement to use a vehicle on the road. It will cover damage to other people's property, but there is no cover for theft of damage to your own vehicle.
2. Third Part, Fire & Theft - this is the same as third party, but with additional cover in case your vehicle gets stolen or damaged by fire.
3. Fully Comprehensive - the most important part of this insurance cover is that damage to yours, and other people's property is covered, regardless of where the fault lies in a collision
Rob Laird - ADI
RPL Driving School
1. Third Party Only - the minimum legal requirement to use a vehicle on the road. It will cover damage to other people's property, but there is no cover for theft of damage to your own vehicle.
2. Third Part, Fire & Theft - this is the same as third party, but with additional cover in case your vehicle gets stolen or damaged by fire.
3. Fully Comprehensive - the most important part of this insurance cover is that damage to yours, and other people's property is covered, regardless of where the fault lies in a collision
Rob Laird - ADI
RPL Driving School
How can you reduce your car insurance if you live in a high risk area?
Unfortunately, your home address can greatly affect how much you pay for car insurance. The more likely you are to be a victim of crime, the higher your insurance premiums will be. So someone living in London, will normally pay more than someone in a small town.
So what can you do? Moving house isn't really an option, so what else can you do? Off road parking or garages can help, as can fitting extra security to the vehicle. Ok if you have to park it on the road, the extra security is probably your only option, but over the course of several years, you'll probably find the initial cost will make the savings worthwhile.
Alarms, immobilsers and trackers are common examples of security that can reduce your car insurance, but it's worthwhile checking with the company first to see which products they do offer discounts for.
Rob Laird - ADI
RPL Driving School
So what can you do? Moving house isn't really an option, so what else can you do? Off road parking or garages can help, as can fitting extra security to the vehicle. Ok if you have to park it on the road, the extra security is probably your only option, but over the course of several years, you'll probably find the initial cost will make the savings worthwhile.
Alarms, immobilsers and trackers are common examples of security that can reduce your car insurance, but it's worthwhile checking with the company first to see which products they do offer discounts for.
Rob Laird - ADI
RPL Driving School
Driving Blog
As well as this one, I run a blog looking at more general issues affecting drivers.
It can be found at my RPL Driving School Blog
Rob Laird - ADI
RPL Driving School
It can be found at my RPL Driving School Blog
Rob Laird - ADI
RPL Driving School
Bike/Car/Auto Insurance Groups
When looking for insurance, one of the things the insurance company looks at the the vehicle you're insuring.
This is a scale from 1 to 20, with something like a 998cc Vauxhall Corsa at group 1, a mini cooper convertible at group 9, and pretty much every Ferrari up at group 20. Bikes have a similar system
Several things need to be taken into consideration when assigning an insurance group:
1. The cost of parts, as if there is an accident, it will affect how much the insurance needs to pay out to repair your vehicle. Also if a vehicle is difficult to work on, making repair times longer, this will also affect the insurance group.
2. The security fitted to the vehicle. More security, less likely to be stolen, less likely for the insurance to need to be used.
3. The cost, quite simply because if the car is written off, and it needs to be replaced, the higher costing vehicle, will have a higher insurance group.
4. Compare a 1 litre car to a 3 litre, obviously the larger engined car would have a higher group. Overall acceleration and top speed are also considered.
5. Desirability, 2 very similar cars, might have 2 completely different insurance groups if one of them has a history of being more attractive to car thieves.
So before you jump in and buy your car, do some research on the insurance, and look at similar car that might save you £££s on the insurance.
Rob Laird - ADI
RPL Driving School
This is a scale from 1 to 20, with something like a 998cc Vauxhall Corsa at group 1, a mini cooper convertible at group 9, and pretty much every Ferrari up at group 20. Bikes have a similar system
Several things need to be taken into consideration when assigning an insurance group:
1. The cost of parts, as if there is an accident, it will affect how much the insurance needs to pay out to repair your vehicle. Also if a vehicle is difficult to work on, making repair times longer, this will also affect the insurance group.
2. The security fitted to the vehicle. More security, less likely to be stolen, less likely for the insurance to need to be used.
3. The cost, quite simply because if the car is written off, and it needs to be replaced, the higher costing vehicle, will have a higher insurance group.
4. Compare a 1 litre car to a 3 litre, obviously the larger engined car would have a higher group. Overall acceleration and top speed are also considered.
5. Desirability, 2 very similar cars, might have 2 completely different insurance groups if one of them has a history of being more attractive to car thieves.
So before you jump in and buy your car, do some research on the insurance, and look at similar car that might save you £££s on the insurance.
Rob Laird - ADI
RPL Driving School
Subscribe to:
Posts (Atom)
