- ABI Group – Based on the level of risk involved with your car make and model, your car will be given a ranking.
- Approved Repairer – Your car insurers will have a list of pre-approved repairers; it’s best to use an approved repairer as some insurance companies will refuse to pay out on claims if the repairs are not undertaken by someone from their list.
- DOC Cover – This is Driving Other Cars cover and is sometimes listed in a motor insurance policy.
- Fault/No Fault Claims - A no fault claim is where the insurer can recover the costs from someone else and a fault claim is where the insurer cannot do this.
- IPT – A government tax which is charged as a percentage of car insurance premiums.
- Loss Adjuster – This investigates the legitimacy of a claim.
- Material Fact – Failure to show proof or to disclose material could invalidate a policy.
- S, D & P - Social, Domestic and Pleasure is a type of descriptive use of a car.
- Settlement – This is when an insurer pays a claim.
- TPO - Third Party Only
- Under-insurance - This is, for example, where you insure a car which is worth £12,000 at a value of £10,000.
- ULR Cover – Uninsured loss recovery is better known as legal expenses cover, which you can add on to your motor insurance policy.
- Uninsured losses - Elements not covered by your policy such as hire charges.
- Underwriter – This is the person who decides whether to accept a risk and calculates the premium.