Insurance Cover Types « MotorQuoteDirect

Posts Tagged ‘Insurance Cover Types’

Fury Grows As Young Sports Car Drivers Feel The Heat Of The New Insurance Premium Hike!

Wednesday, June 10th, 2009

“Sports car owners under 25’s in an uproar about new insurance changes.”

June 10th 2009
Wimbledon, Greater London, United Kingdom.

Young sports car drivers are to feel the brunt of sweeping changes that were made across the car insurance industry in late May which see’s sports car owners that are under the age of 25 to receive higher premiums for their car insurance policies.

The impact of the changes see’s sports car owners under 25 now facing premiums upwards of £7000 a year, based on recent trends on sports car modifications.

In a claim from Uswitch.com, the speed modifications that were typically sought by the owners of sports vehicles increased the risk probability of claims against insurers. In an extract from the Insurance Times, it found that:

“

Go-fast extras add an average of £2,682
A spoiler hikes the premium by almost £700
A young driver’s car insurance could cost up to 223%of the value of the car
Adding GTI to a Peugeot 206 could push the cost of insurance up by £6,485
17-21 year olds represent just 7% of all drivers but they pay 32% of UK annual car insurance bill
The average car insurance premium for a young driver is £1,730 - more than three times the national average premium of £512
Insurance premiums fall by an average of £4,002 between the ages of 17 and 27
All drivers have seen their car insurance premiums rise by almost 10% in the last 12 months. ”

Insurance times

26th May 2009

In light of these claims, MotorQuoteDirect has reacted to attempt to curtail the new increase in expenses by providing online awareness and savings advice to young drivers with the launch of the MotorQuoteDirect Car insurance blog and offering free quote comparisons on sports car insurance at their website www.motorquotedirect.co.uk.

Source: http://www.insurancetimes.co.uk/story.asp?sectioncode=13&storycode=378568

Reference

MotorQuoteDirect are one of the UK’s leading insurance intermediaries based in Wimbledon. Established in 1965, we have over 40 years experience of providing quality car insurancecover at very competitive prices, covering all risks from young drivers to classic car owners and through our association with a large panel of UK leading insurers. To find out more information on their car insurance services, visit them today at http://www.motorquotedirect.co.uk.

©2009 Motor Quote Direct. All rights reserved. W E Bedford Insurance Services (Wimbledon) Ltd, 267-269 Kingston Road, Wimbledon, London, SW19 3FW is authorised and regulated by the Financial Services Authority. Our FSA Register number is 305737

Tags: Car Insurance, Car Insurance Quote, Comparison, Cost Management, Insurance Cover Types, Insurance Premium, Insurance Quote, Press Release, Sports Car, Under 25, Young Drivers, Youth Drivers
Posted in Car Insurance, Car Insurance Application, Press Release, Young Drivers Car Insurance | No Comments »

Car Insurance Guide

Friday, June 5th, 2009

Our guide to car insurance contains all you need to know about finding the right type of motor insurance policy, how to lower the cost of your premium and what to do in the event of a claim.

If you want to go directly to another section of our guide to car insurance, you can click on one of the links below:

Car insurance is almost certainly the financial product most commonly held by consumers in the UK, with the possible exception of a bank or savings account. This is hardly surprising: if you drive a vehicle, insurance is compulsory.

In theory, this ought to make everyone a car insurance expert, able to get the best deal on their motor cover.

Yet too many of us tend to stick with the same insurer for too long and end up paying hundreds of pounds more a year than we need to. We only change policies when premiums become very noticeably too dear.

Conversely, we pat ourselves on the back because we have found ultra-cheap car insurance - only to discover that when we make a claim, certain items were never covered under the terms of that policy.

Shopping around is the starting point for anyone who wants the best car insurance deal. Our car insurance comparison tool allows you to search for and compare quotes from more than 60 top insurers and brokers in the UK.

But knowing how motor and car insurance works can help you get an even better deal - not just on price but in terms of the service you may need from your insurer. This guide is designed to help you achieve that.

It tries to answer some of the most typical concerns of motorists: everything from explaining how your quote is set and tips on how to cut the cost of your cover, to the various steps involved in making a claim.

Tags: Car, Car Insurance, Car Insurance Application, Car Insurance Policy, Insurance Cover Types
Posted in Car Insurance, Car Insurance Claims, Car Insurance Cover Types, Cheap Car Insurance | 2 Comments »

What happens if my car insurance claim is rejected?

Thursday, May 28th, 2009

Occasionally, insurance companies refuse to pay claims and can sometimes reduce the amount they are going to pay you. Usually, this is because of one or more reasons.

Clauses - You are not covered by a clause in the insurance policy and it would be better dealt with by another insurance policy i.e. home insurance.
In the event of a write-off - Your claim can also be reduced if your car has been written off and the value of the car is much less than what it would cost to restore it.
Supporting Information - If you do not have receipts for aspects of your claim for example theft of a laptop or iPod from your car then you are unable to make a claim.
Theft - Sometimes if an insurance company believes you were at fault for the theft of your vehicle or belongings inside your vehicle then you will not be able to make a claim.
Untruthful Information - If you have given inaccurate or untruthful information in relation to your claim then you are not able to make a claim.

What can you do?

Keep a record of all the conversations and correspondence in relation to your claim. This can really help with the success rate.
You don’t have to accept their offer. You can sometimes negotiate a better deal with your insurer in cases where you believe the sum they are willing to pay out is wrong. This can sometimes work well and you will get what you are owed.

If you are stuck and don’t know how to deal with something and you feel you are being treated unfairly by your insurance company then you can contact the Financial Ombudsman Service who are there to help.

You can either call the FOS on 0845 080 1800 or write to:

The Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall

Or visit the website at: http://www.financial-ombudsman.org.uk/

Tags: Accidents, Car, Car Damage, Car Insurance, Car Insurance Claims, Insurance Cover Types
Posted in Car Insurance, Car Insurance Application, Car Insurance Claims, Car Insurance Cover Types | No Comments »

What do I need to apply for car insurance?

Thursday, May 28th, 2009

In order to get an accurate quote for your car insurance please ensure you have the following information:

Car Registration number, plus make and model
Post Code
Number of years of no claims discount
The details of any other drivers who you wish to include on your policy
Estimated annual mileage
Full details of claims or convictions in the last three years

Liability and legal requirements

You are obliged to disclose any detail which may be considered of importance to your insurer. Failure to do so may affect your ability to make a claim.

Therefore, if your circumstances change in any of the following ways you must inform your insurance company in order to ensure you are still covered:

If you move home
If the named drivers on your policy change
If you modify your vehicle
If you change your vehicle
If you exceed your limited mileage

Tags: Car Insurance, Car Insurance Application, Insurance Cover Types, Legal, Quote, Third Party
Posted in Car Insurance, Car Insurance Application | No Comments »

A Guide to Car Insurance Cover

Monday, April 20th, 2009

Which type of car insurance do you require?

There are three levels of car insurance cover - third party; third party, fire and theft; and fully comprehensive. When purchasing car insurance it’s important to choose the option which will afford you the cover that you need.

The three levels of insurance cover are described below - take the time to read and understand the difference between them to make sure you select the right type of cover.

Third Party

This option offers only minimum coverage. It covers you for:

Injury to other people
Damage to another person’s property or car
Accidents caused by passengers

It does not cover you:

If your car is stolen
If your car is damaged in a fire
If you damage your own car
For medical expenses
Loss or damage to personal possessions (which are in the car)

As this type of insurance offers only very limited cover, it is really only suitable for people who cannot afford more comprehensive cover.

Third Party, Fire & Theft

This offers the same coverage as third party, plus you are also covered in the event of a fire, or if your vehicle is stolen.

However it does not cover you

If you damage your own car
For medical expenses
Loss or damage to personal possessions (which are in the car)

This type of cover offers a happy medium for those who cannot afford fully comprehensive cover.

Fully Comprehensive (’Fully Comp’)

As the name suggests this type of insurance offers the same cover as third party, fire & theft; plus you are also covered if you damage your own car.

In addition to this you will also be covered for medical expenses, and loss or damage to personal possessions which are in your car.

Please note, not all fully comp insurance policies offer precisely the same benefits. For example, in addition to the coverage outlined above, some insurers also offer fully comp customers additional benefits like courtesy cars in the event of an accident or theft. Many also offer protected no-claims bonuses.

Before taking out any policy it’s really important to thoroughly check that the policy offers exactly the cover which you require.

Summary of Coverage

	Third Party	Third Party, Fire & Theft	Fully Comprehensive
Injury to others	Yes	Yes	Yes
Damage to other’s property or car	Yes	Yes	Yes
Accidents caused by passengers	Yes	Yes	Yes
Fire	No	Yes	Yes
Theft	No	Yes	Yes
Damage to your own car	No	No	Yes
Medical expenses	No	No	Yes
Loss or damage to personal possessions	No	No	Yes

Tags: Car Insurance, Fully Comp, Fully Comprehensive, Insurance Cover Types, Third Party, Third Party Fire and Theft
Posted in Car Insurance | No Comments »

Posts Tagged ‘Insurance Cover Types’

Fury Grows As Young Sports Car Drivers Feel The Heat Of The New Insurance Premium Hike!

“Sports car owners under 25’s in an uproar about new insurance changes.”

Car Insurance Guide

What happens if my car insurance claim is rejected?

What do I need to apply for car insurance?

A Guide to Car Insurance Cover

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