Please see our motor insurance update for post-lockdown for advice on motor insurance relating to Coronavirus.
If you are a driver or owner of a car, motorbike, lorry or any other type of motor vehicle, you must be insured by law.
In order to drive a motor vehicle you require a valid driving licence. The paper part of the licence runs until you are 70 years of age. The photo card part of the licence is subject to renewal every 10 years. If you fail to renew the photo card part of the licence, you are still entitled to drive but you may be committing an offence and may face a fine of up to £1,000.
The world of motor insurance is a complex one. There are literally hundreds of different policies to choose from, and it’s not always easy to know how to go about finding the right one for you – and at a cost that won’t break the bank!
Here we aim to explain some of the ins and outs of motor insurance, and the advantages of obtaining impartial and expert advice. Also, what you should do if you’re involved in an accident.
At the end of the Brexit transition period, 31 December 2020, it is possible that the European Commission would not have approved the UK’s membership of the EU free circulation zone, therefore UK motorists could be required to carry green cards for travel from 01 January 2021 in Europe. Please seek advice from your broker or insurer.
Types of car insurance
Third Party, Fire And Theft
The minimum insurance cover you can buy is called ‘third party only’. This covers you if you injure someone else or damage their property. However, very few companies will sell you this cover on its own.
The next step up includes ‘fire and theft’, and this provides protection against loss and damage if your vehicle is burnt or stolen. However it will not protect you against damage to your vehicle if you’re involved in an accident, or if it is vandalised.
Comprehensive insurance covers damage to your vehicle from a wide range of causes, including accidents and fire and theft. Other benefits sometimes include limited cover for items stolen from your vehicle, medical expenses and personal accident protection.
The word ‘comprehensive’ can be misleading however, as these policies always include limitations and exclusions.