In the UK, every vehicle that is driven on public roads must carry a valid insurance. There is any number of Motor Trade Insurance companies in the UK. So whether you ride a moped, a motorcycle, a scooter, or drive a car, the vehicle must be insured. There are four types of motor insurance that you can purchase in the UK.
The first type of insurance is known as "Act Only", and is rarely taken out by vehicle owners. This is the minimum insurance cover that you can obtain in the UK, and only those drivers who have a poor driving record and could not get any other insurance would have it.
The second type of insurance is Third Party insurance. This is the cheapest and the most common type of motor insurance taken in the UK. This insurance policy covers driving on public roads as well as on private property. This insurance provides cover against any legal liabilities and third party claims.
Third party fire and theft insurance is the third type of motor insurance that you can obtain in the UK. In addition to providing insurance against third party claims and any legal liabilities, this insurance also provides protection in case the vehicle catches fire or is stolen. The insurance even covers against any attempt to steal the car.
The fourth type of insurance is called comprehensive insurance. Under this type of motor trade insurance you can be insured against virtually anything that can happen to the vehicle. From an accident, to injury to repair work to getting the car replaced because it becomes completely wrecked can be covered. New cars and big expensive cars generally carry comprehensive insurance. As the owner of a new vehicle you want to fully protect yourself and therefore you should buy comprehensive insurance. The motor trade insurance company will quote you a premium depending on what you want covered in your vehicle insurance. Comprehensive insurance can include loss of limb/s or eyesight, and even death of the driver or passengers in the car. Motor trade insurance companies generally limit the cover to the car owner's spouse and children.
These are the four different types of car insurance covers that you can take out in the UK. If you have a comprehensive insurance cover and you don't make any claims. The motor trade insurance company will give you a no claim bonus at the end of each year. This means that the insurance premium will reduce but the cover remains the same. You can also bargain the premium down if you are getting more than one vehicle insured. That is, if you and your spouse have separate cars you could get comprehensive insurance for both the vehicles at a decreased price. Of course you will have to insure both the vehicles with the same insurance company.
Most motor trade insurance companies charge a one off premium for the year. You can also pay the insurance premium in installments. But the premium will be higher if you choose to make monthly payments.
Paul Headley is a specialist insurance article writer. Staveley Head are a leading UK insurance broker for
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Orignal From: What Are The Different Types Of Motor Trade Insurance?
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