Car Insurance, Save On Premiums!

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Car Insurance, Save On Premiums!Everyone should agree to some sort of excess when getting a car insurance policy-the way the system works. Basically this means that if you have an accident and your car needs to be repaired, you will have to pay a set amount to the bill. If the accident is your fault, you lose money. If the accident is not your fault, third party insurance companies you to overpayment. If your car is written off, then your insurance company will reduce your excess of the settlement payment.

Things are not always that simple but, unfortunately, there are few drivers on UK roads which do not have any insurance, so the question is what happens with your claim if you have an accident with driver insurance?

Act of road traffic of 1988, Section 143 clearly states that all drivers in the UK must have insurance for the vehicle they are driving. The point of insurance is that if you have an accident and it is your fault, you have the means to cover the costs of damage by way of your insurance policy. It is a sad fact that a significant minority of drivers chooses not to bother with insurance, disregarding UK law and save you hundreds of pounds per year as a result. Someone has to pay for these drivers though, and those who have insurance that pays the bills!

Department of Transportation estimates that as many as 5% of uninsured drivers on the vehicle they are driving. Statistics also show that drivers insurance is more likely to be involved in an accident. This is a growing trend and is proving extremely difficult to eradicate.

If you have an accident, the innocent, and the third party is not insured, then you will be reimbursed by the Bureau of Motor insurance. Who funds them? Automobile insurance industry! That's where you end up some premium increases. You will also find that you have to pay the excess agreed upon it; there will be no one able to restore that for you.

Here's the low-down on the basics of 'excess':

Compulsory excess - this is the amount of money that the insurance company considers the minimum amount you must pay toward the cost of the damage. It was agreed at the beginning and depending on your age some of your details and you’re driving record. For example, if you are older and have a clean driving record, you may only have to pay a minimum of £ 50. People with a history of driving Plate, or those who do not drive for a long time, could move has agreed to pay £ 500. Average for most drivers is £ 100.

Voluntary excess - this is the amount in addition to the number of 'mandatory' minimum set by the insurance company that you are prepared to pay. This is an opportunity to lower your premiums, because if you can agree with a high excess, the insurance company know will not have to pay more if you need to file a claim. This is one of the few sure fire ways to save a few kilograms on a car insurance policy, but you might not be offered a choice, it depends on the individual insurance.

The garage will not give me back the car repaired until I gave them a check for the excess-this is what usually happens?

This is absolutely normal, and you will have to pay and then get the money back from a third party insurance company. Always give the car a good once to ensure that the repairs have been satisfactorily completed. You also need to keep a receipt to return the excess of the insurance company, and just in case they are denied the charges, get a copy of the repair schedule so that insurance companies can see exactly what the work is completed on your vehicle.