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All You Need To Know About Car Insurance In The United Kingdom
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All You Need To Know About Car Insurance In The United Kingdom

Nature of car insurance

No doubt the mention of "car insurance premium" can make some motorists cringe. Apparently, this fear is caused by the indiscriminate increase in motor insurance premiums nationwide. Vehicle insurance premiums didn't just become expensive over-night- the last decade has seen them rise indescriminately up to the point of no return. However, though premiums are ever increasing, it's still a must for every motorist have.

Can we really afford to drive without a policy?

In some countries, it is a driving or criminal offence to drive a vehicle without an insurance policy. Most importantly here in the United Kingdom, it is an essential requirement for every driver to have a valid cover for the sort of vehicle they are driving as regular checks are carried out daily by law enforcement agencies. Two of the major benefits of having a valid cover includes:

Protection against third party claims- In the event of an accident, any third party involved could exercise their legal obligation for your negligence, damages or any other liability they incur as a result of the collision.

Staying on the right side of the law- It is your civic responsibility to insure the vehicle you drive.

Potential problems from not being insured

Do not drive a vehicle which you do not have a valid insurance policy on. You risk the following if you're caught driving without a cover:

  1. Not having a valid insurance cover on your vehicle can generate points on your licence- and if you accumulate up to 12 points, you then get disqualified from driving- which can be a severe blow when you depend on your driving job to make a living .
  2. It's common for persistent offenders to get couple of months or even several years ban for not having an insurance policy on the car they drive.
  3. Driving without an insurance on your vehicle can attract fines- the higher the fine will depend on the severity of the driving offence.
  4. In some exceptional cases persistent offenders can spend time behind bars.

Important aspect to consider in a car insurance policy

It can be rather confusing for new and young drivers trying to buy an insurance policy for the first time. With all the complicated terms, words and policies, experienced drivers might need to explain these policies to them in plain and simple language. Nonetheless, there are very important components to look out for when buying a policy. Below are just a few of many criteria to take into consideration:

  • Decide on your level of cover (comprehensive, third party fire & theft, third party only).
  • Excess is the amount you contribute towards repairing your vehicle during an accident- there are two basic types of excess, compulsory excess which is determined by your insurer and voluntary excess- which is determined by the policy holder
  • Compare quotes by shopping around. Quotes differ from one insurance company to another- the more insurers you approach the more likelihood of you getting a cheaper premium.
  • There are special conditions contained within your policy that allows you to do certain things- for instance, the ability to drive other vehicles, having a protected no-claims bonus, driving within the EU and so many other. Do endeavor to check and acknowledge your capacity as an insured.

Getting the lowest premium possible using these 7 easy steps

There is no cheapest car insurer out there. Basically, there are overwhelming variables that can influence the cost of vehicle insurance coverage: 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 sole objective will now be to spot the cheapest car insurance deal possible by:

  1. Obtaining a vehicle that is classed within the low insurance groups. Some examples of cars within the low insurance group bracket includes: Vauxhall Corsa, Fiat Punto and Nissan Micra because of their small engine sizes. High insurance premiums are allocated to bigger engined cars while smaller engine vehicles attract lower premiums.
  2. Increasing your excess levels would decrease your premium but exercise due caution when setting your level of excess because, the amount you state on your quote form is required of you in the event of an accident. Avoid stating an amount you cannot afford to redeem.
  3. Parking your vehicle in a garage overnight can help lower your premium. Insurance companies reward you with lower premiums for lowering the risks of theft, burglary and criminal damage.
  4. Installing security gadgets like tracker, alarm and immobilizers often reduce or prevent theft of vehicles as such insurance companies reward drivers with such security measures with discount premiums on their policy .
  5. Comparing car insurance prices also means shopping around for good quotes, price comparison website s allow you to compare quotes from lots of car insurance companies within minutes- saving you valuable time and money.
  6. Pay as you go insurance only enables you to pay for the mileage you drive thereby saving you money on the miles you don't. It's ideal for new and young drivers looking to save money on their vehicle insurance premiums.
  7. Going for a green car insurance policy whereby premiums paid are used to offset the emissions in the environment. You save money by the emissions' company donating small percentage of your premium towards the planting of trees for the environment. Green motor insurance is for the environmentally conscious individual looking to do his/her bits for the environment.

Final thought

Driving a vehicle without adequate insurance protection is a lot costlier than driving with one: Bearing the cost of not having a vehicle insurance while in a major collision can be astronomical, especially when you get sued for damages as a result of your negligence which resulted in the 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.

On the other hand, insuring your vehicle only gives you peace of mind and away from trouble. Avoid driving a vehicle that is uninsured.


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