Vehicle insurance overview
The thought of car insurance premiums do often make motorists cringe- because of exorbitant nature that insurance for vehicles have become. Apparently, this fear is caused by the indiscriminate increase in motor insurance premiums nationwide. Over the last couple of years, motor insurance premiums has seen a sharp rise in the motoring industry.
It's now become the 'norms' for drivers to search for cheap and affordable policies- in order not to experience the consequence of not having one. Although car insurance policies can be very expensive, it's mandatory for every driver to buy one before driving on the road.
It's now become the 'norms' for drivers to search for cheap and affordable policies- in order not to experience the consequence of not having one. Although car insurance policies can be very expensive, it's mandatory for every driver to buy one before driving on the road.
Car insurance policy: are they an option or a necessity?
Most countries practice compulsory car insurance for every motorists that drives a vehicle. In the UK for instance, the law enforcement agencies are always on the prowl to enforce drivers have valid insurance policies for the cars they use. The major advantages of being adequately covered are:
Coverage against claims from motorists or passengers looking to exercise legal obligation against a policy holder that is the major cause of an accident in which losses and or damages occurred as a result.
Getting an insurance policy for a vehicle is a civil responsibility for every motorists in the England and Wales, however- driving without a valid insurance policy is a driving offence and punishable by variety of means depending on the severity .
Coverage against claims from motorists or passengers looking to exercise legal obligation against a policy holder that is the major cause of an accident in which losses and or damages occurred as a result.
Getting an insurance policy for a vehicle is a civil responsibility for every motorists in the England and Wales, however- driving without a valid insurance policy is a driving offence and punishable by variety of means depending on the severity .
Risk for not having a valid insurance policy
- Having enough points on your driving licence can cause the authority to rescind your licence- if you accumulate up to 9 points within your first two years of driving.
- Bans are often given to drivers without a valid insurance coverage on their vehicle, however, large fines do accompany these fines depending on the degree of the offence .
- Depending on the severity of a driving offence- whether being involved in an accident whilst not being insured or just being caught driving without a valid insurance, the amount of fine imposed will hugely differ in direct proportion to the severity of the offence.
- As absurd it may sound, motorists can be jailed for driving without insurance on their vehicle in very exceptional circumstances- typically if they are consistent offenders or they've caused a whole lot of damage as a result of not having a policy in the first place.
Things to consider before taking out a policy
New drivers looking to obtain cover for the very first time can easily find it confusing. New drivers usually find it difficult to comprehend the terms or wording of their policy document- experienced drivers would be in a better position to interpret it in a simpler language for them. However, there are vital factors to look out for in a policy before you decide to buy. Below are a few important ones to look at:
- The 3 levels of cover you can select from includes: comprehensive, third party fire and theft and third party only.
- Most insurers in the UK require excess- level of excess is the amount you contribute towards repairing your car when you're involved in an accident. Voluntary excess is not mandatory while compulsory excess is
- If your premiums are unaffordable then it's time to keep on comparing quotes until you find a cheaper and much more affordable quote.
- Always observe the special conditions that applies to your policy- whether you're protected when you drive within other European countries, are you entitled to a courtesy vehicle should your car be out on repairs? are you allowed to drive other cars with the owners permission?
Ways to lower your car insurance premium
One major fact motorists fail to acknowledge is the non-existence of a cheapest motor insurer. There are simply too many variables affecting the price of a car insurance policy: the type of vehicle you drive, who you are, your driving history, where you reside and your occupation all help decide the kind of quote you get for your policy. Your major challenge will now be to search for the cheapest car insurance deal possible by:
- Getting a car that's categorized to fall within the low insurance group. For instance; Nissan Micra 1 litre, Vauxhall Corsa, Fiat Punto all fall in this group because of their small engine sizes. Typically, vehicles with small engine sizes all fall within the low insurance groups- the bigger the engine sizes the higher premium you'll end up paying.
- Increase your excess: Apparently, the higher your level of excess the lower your policy and the lower your excess the higher your premium. Resist the temptation of inflating it, stick with an amount you're comfortable with.
- Putting your motor vehicle in a secure garage at night eliminates risk of it being stolen or damaged. Keeping the risk of damage, theft and burglary to a minimum is what insurance companies prefer, so they reward drivers with lower premiums.
- Install security systems like alarms, immobiliser and even trackers.
- Shop around, compare quotes, use car insurance comparison sites like http://www.cheapcarinsurancex.org/ to compare over 110 insurance companies from selected low cost insurers.
Conclusion
It cost more to drive your car without adequate insurance protection than when you have a valid cover : The consequence of not having an insurance policy on the car you drive can be quiet costly when involved in an accident. Examples of risk motorists face for not having appropriate insurance cover on their vehicle includes- the risk of their cars been seized or destroyed by local authorities, fines, claims from other third parties and so on.
However, you only get peace of mind and confidence when you drive with the right type of policy cover as your covered by your insurance company for insurable risks. So, be insured before you drive any vehicle on the road.
However, you only get peace of mind and confidence when you drive with the right type of policy cover as your covered by your insurance company for insurable risks. So, be insured before you drive any vehicle on the road.
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