Why It’s Important To Insure Your Vehicle

Since the advent of the Road Traffic Act in 1988, insuring your vehicle for driving has been an unambiguous and unarguable must. Given the range and choice of insurance policies available, to fail to do so is not only grossly negligible it is also extremely dangerous to both yourself and other motorists.

Approximately a third of Britons choose not to buy insurance with their vehicle. Statistics released by the Motor Insurers’ Bureau (MIB) show that around 1.4 million motorists are thought to be uninsured. An estimated 23,000 people are injured and 160 killed by uninsured, and often untraced, drivers every year. The cost of uninsured drivers to insurance firms stands at £500 million a year and increases each individual’s annual premium by an average of £30.

There are typically three types of vehicle insurance available. First, there is basic third party cover, legally the minimum insurance required. Third party covers you for damage caused to other people or their property during an accident. The second type of premium available is third party, fire and theft. Again, this covers damage to others and their property while also covering your vehicle for damage sustained during a theft, attempted theft or fire. If the vehicle is stolen and unrecovered, or lost in a fire, then the insurance company will pay you the value of the vehicle at the time of the accident. Finally, there is the all-encompassing safety net of comprehensive insurance cover.

Taking out a comprehensive premium is, of course, the most expensive form of insurance; it could, however, be well worth paying the extra pennies. As well as providing all the cover available in the first two categories, comprehensive insurance also protects your own vehicle against any problems sustained during an accident, even if you are at fault, as well as any malicious damage. Most comprehensive policies will carry an excess which is an amount you agree to pay towards any claim. If, for example, you make a claim for £1,000 and your excess is £250, you will be required to pay the first £250 of the claim and the insurance company will cover the rest.

Most premiums frequently offer a range of optional extras, enabling you to tailor your cover to suit your own specifications. These extras typically include breakdown cover, travel in Europe and using other vehicles with the owner’s permission.

One way to bring your monthly premium down is to offer to pay a higher voluntary excess. Typically, the more towards a potential claim you are prepared to contribute, the lower your monthly bill will be. Insurance premiums are affected by a variety of factors. Insurers will calculate a total amount by evaluating a person’s ‘risk level’. This is concluded by considering things including your claims history and driving record, therefore a clean licence and a no-claims history will benefit your quest for cheap car insurance.

Providers will also evaluate your personal circumstances, the amount of time you spend on the road, your home address and your parking arrangements. Again, savings can be made if your car is parked in a secure, locked garage or if you live in an area with low crime statistics and few potential accident ‘hotspots’.

Driving a vehicle on a road or public place without a minimum of third party cover is illegal. The consequences are typically a fixed penalty notice which dwarfs the cost of any premium and police involvement. Points on your licence are another potential punishment. For both legal and safety reasons, insuring your motor is a must; it needn’t, however, cost the Earth.

It’s well worth taking the time and effort to establish exactly what insurance you need before thoroughly researching the right cover for you. Doing so will avoid unnecessary expenses and enable you to travel the roads in safety.

Got Motorbikes On Your Mind – Time to Insure Them!

Insurance is an interesting thing. Sure, no one really wants to think about the premiums, but have you ever stopped and thought about the protection that insurance affords you? When it comes to insurance on vehicles, that protection comes in the form of reduced liability. If you were ever in a collision where you were going to have to shell out thousands of dollars for damages, you could really use some help on your side. That help usually comes in the form of the insurance company. It’s the law to have insurance on any vehicle on the road, since you will want to be able to take care of the medical and/or general damages and costs that someone incurs in the case of an at-fault accident.

When you have your eye on motorbikes, it can really start to become an obsession. We’re motorbike fans as well, and it’s important to put insurance as one of your priorities when you’re really trying to get a motorbike of your very own. A lot of people think about skipping the insurance but this is actually not something that you should do. For starters if you’re going to drive it on public roads, you are going to have to get insurance. Otherwise, if you are caught without the insurance it’s going to mean a stiff penalty.

It’s important to keep in mind that when it comes to motorbikes, you’re not always going to be able to just compare policies by price. That’s like comparing apples to oranges, because not every insurance policy is equal — and the world of motorbike insurance coverage isn’t exempt from this rule either. The truth is that you’re really going to need to do some digging in order to make sure that you really find a great policy that’s going to work for you.

The best way to make sure that you’re saving as much money as you can on your motorbike insurance plan is to make sure that you really do get the best safety features for your motorbike. You want to make sure that you have strong lighting and reflective tape so that you can be seen at night. In addition, you will want to make sure that the brakes and other “stopping” gear has been checked over by a safety-oriented mechanic. That way you can show your insurance company that you’re trying to take security and safety as a priority in your life. They just might be able to reduce your policy’s premiums.

Now is the perfect time to get an insurance policy quote on the motorbikes that you want to purchase — get started today!