This section will be updated as necessary:
Do I need Insurance
Yes if you live in live withing the European Union (Including the UK), the minumum insurance requirement is Third Party Only
What are the levels of insurance available
What affects the price of my insurance
The price of your premium is calculated using a risk rating. The higher the risk you are considered to be, the more your insurance premium is going to be. Here are a few factors that are taken into consideration:
Do I need Insurance
Yes if you live in live withing the European Union (Including the UK), the minumum insurance requirement is Third Party Only
What are the levels of insurance available
- Fully Comprehensive, this covers your vehicle, and any third party whome you have an accident with. These policies often allow you third party cover on any other insured cars which do not belong to you. Please check your documentation though before you drive somebody elses vehicle. Fully comprehensive policies are often the most expensive insurance option.
- Third Party Fire and Theft (TPFT). This cover does not ensure your vehicle against accident damage where you were fully or partly to blame. The third party will be coverd for any damage you have done to their vehicle (or person) provided you were at fault. Third Party Fire and Theft will also cover your vehicle in the event of accidental fire, and in the case that your vehicle has been stolen. Some policies may have an annexed contents and glass protection policy, which may be part of the total cover or available at an extra cost.
- Third Party Only. There is no cover for your vehicle, cover is extended only to the third party in an accident where you were fully or partly to blame. This is the mimumum amount of cover you are allowed in the UK and most of europe. This is often the cheapest option. Bare in mind that you may be restricted to using your vehicle only in the mainland of England Wales and Scotland with this policy.
What affects the price of my insurance
The price of your premium is calculated using a risk rating. The higher the risk you are considered to be, the more your insurance premium is going to be. Here are a few factors that are taken into consideration:
- Your gender, males tend to be higher risk
- Your age
- Length of time you've held a full license
- Aproximate anual mileage
- Your post code's crime rating
- Where you keep the car overnight
- The type of use of your car (i.e. do you commute to work or just drive on weekends)
- The number of doors/seats in your car
- Vehicle insurance group rating
- Vehicle safety rating (related to the grouping above)
- The value of your vehicle
- The engine size and power of your vehicle
- The type of vehilce e.g. sports car, MPV, cabriolet etc...
- Pass Plus and Driving Qualifications (e.g. IAM)
- Modifications
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