The principles behind
Car Insurance.

 

Summary

If you increase the excess payment on your car insurance youll save a lot on your premium. This article explains.

 

Author: Michael Challiner

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An excess payment is the fixed contribution you must pay each time your car is repaired through your car insurance policy. Normally thepayment is made directly to the accident repair garage when you collect the car. If your car is declared to be a write off, your insurance company will deduct the excess agreed on the policy from the settlement payment it makes to you.

If the accident was the other drivers fault, and this is acceptedby the third partys insurer, youll be able to reclaim your excess payment from the other persons insurance company. But what if the other driver is uninsured? (cheap loans)

All motorists know that its a legal requirement (under Section 143 of the 1988 Road Traffic Act) to have insurance for any damage theycause to third parties. But still many drive without insurance. An estimate of the incidence of uninsured driving in the UK is hard to come by and, for the obvious reasons, those drivers involved in breaking the law have every reason to keep quiet about it (best loan).

Calculations from the Department of Transport suggest that inthe UK around 5% of vehicles are being driven without valid insurance. This group of people not only impose costs on honest motorists in the form of higher premiums, but their presence on our roads also represents a serious risk to other road users. Consequently, uninsured driving is increasingly being regarded as a major social problem. (remortgages)

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