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General Car Insurance

What’s Included in my Policy and Do I Need It?

 

It is important that you fully understand all the factors that may be included in your insurance policy and as importantly, all the things you are not covered for. The Financial Services Authority, which regulates the insurance industry, has produced very clear guidelines that all insurance intermediaries must adhere to. One that affects you as a consumer is the notion of ‘demands and needs’.  This basically states that when you ring an insurer for a quote, they must ask you the appropriate questions to ascertain what insurance is correct for your particular situation – and then provide you with a suitable insurance quote. This includes any ‘add-ons’, which may include:

 

Personal Effects

This is usually only applies for comprehensive polices and provides limited cover for personal affects that are stolen from or damaged with the vehicle. Usual limits are around £100 and can be useful if your CD’s or sunglasses etc, are lost or damaged. However, it is important to check this limit if you are likely to carry more expensive items, such as an MP3 player or laptop as these may well exceed this limit.

 

Windscreen Damage

Most comprehensive policies cover the cost of replacing glass that has been damaged accidentally, with often a lower excess, typically around £50. Usually a windscreen claim does not adversely affect your NCD.

 

Audio Equipment

If you have expensive audio equipment installed in your vehicle, check the policy limit, as typical values are around £500. However some insurers will accept the risk involved insuring higher value equipment, but you will be expected to pay an additional premium.

 

Next: What’s Included in my Policy and Do I Need It? - continued

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