What is Car Insurance?

Car insurance UK based generally covers your vehicle for any damages caused to it. Car insurance companies will also cover for the damage of other cars and motorists should you perhaps have a collision with someone. With car insurance, you should know what comes with it and what implications can come from different aspects of it. Below are the key things you should know when it comes to selecting a car insurance. However, it also covers you for if your car is stolen or is wrecked via fire-related damage. 

The Excess

The excess is ultimately how much you pay if anything happens to your car that your car insurance covers. For example, if the damage to your car will cost £600 and your excess for the damages is only £150, then you will only pay £150, whilst your insurance company will pay off the other £450.

A No Claims Bonus?

As you might have guessed, a no claims bonus is a discount that car insurance companies will offer you, for if you do not make a claim within a particular amount of time. This will mean (after the period of time to achieve the bonus) that you can get cheaper car insurance for your next policy that you take out. Of course, if you do make a claim, the discount bonus will not be made available to you.

Though it depends on different car insurance companies, some will up the amount of discount you get on a yearly basis. Some may require you to not make a claim within an extended period of time, for example, 4 years.

What Can Happen If You Have No Car Insurance

Driving a car without car insurance is very ill-advised, especially if you have car insurance UK provided. The penalties for driving without insurance can include the vehicle being clamped, points against your driving license, receiving a fine or receiving a fined paired with a possible prosecution. 

Insuring your vehicle is a standard proceeding when having a motor vehicle. As we have mentioned already, it can assist in paying off costs for repairs depending on what type you get. However, with no car insurance, you are left to pay for all repairs yourself as no car insurance companies are interconnected with you or your vehicle.

What Effects YourCost?

A number of things can affect how much your insurance premium will be. How long you have been driving; how old you are; the type of car you are driving; how many accidents/claims you have had in the past. These tend to be the key factors behind what will affect how much you are paying for your car insurance. For example, someone who has been driving 1 year, has made 2 claims, and is driving a new model Mercedes, should be expecting to pay a fair bit due to their circumstances in terms of driving.

Contact Rigby Insurance

Your car insurance UK based is an important factor in your life when it comes to driving, so it is important to speak to someone about the facts and what you can do. Need a financial company to walk you through a clear-cut car insurance plan? Contact Rigby Financial today! You can call us on 01744 886077. One of our financial advisors or insurance brokers will be happy to assist you. 

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