Not all vehicle insurance provides the same level of cover. This is one of the biggest factors affecting how high your policy’s premiums are, but there are others:
Some policies add extra limitations which reduce the cost of the policy, but mean that it will not pay out if you’re found to have ignored these limits.
Two major examples of this are black box/telematics insurance and limited mileage insurance. Limited mileage insurance is simple – if you go beyond the mileage you’re insured for, your insurance is invalid – but black box insurance can take a little more explaining. Named after the ‘black boxes’ which record aircraft flight data, it provides a clear record of your driving and can be used to prove whether you were at fault or not.
Vehicle insurance is broken down into several categories. These include:
If you’re intending to insure multiple vehicles for your business, you may get a better deal with motorfleet insurance. Most business customers should also consider goods in transit insurance.
There are also specialist packages for taxi drivers, minibus firms, and limousine hire companies. These include both the legally required vehicle insurance as well as other cover often used by businesses in those fields.
Vehicle insurance is mandatory because it provides financial protection to you in case your vehicle causes bodily injury or property damage to third parties. It also gives you financial support if you are injured in a traffic accident. In addition, car insurance companies can use their data to determine potential risks that may result from specific cars on the road and raise rates for those cars until safety measures can be made.
Vehicle insurance coverage can be transferred from one vehicle to another. In fact, auto insurers encourage policyholders to move their auto insurance coverage to different vehicles within their household. The process of transferring the insurance coverage is somewhat different depending on the type of vehicle and insurer. Vehicle insurance providers will transfer coverage to a new owner when certain conditions are met, but these conditions can vary from one provider to another.
Before you transfer your insurance policy, make sure you have the following information:
Online comparison streamlines the process of gathering quotes and ensures you don’t accidentally overlook key providers. Filling out the form above will call for tailored quotes from over sixty insurance vendors.
Take care when reviewing these quotes not to choose a policy which offers less cover than you feel you need. Once you have a shortlist of suitable quotes, it’s time to take price into account to whittle down that shortlist and make your selection.
Online comparison tools make collecting quotes much easier and faster, but the decision is yours. Make sure you’re comfortable with your chosen policy.
