Motor Insurance Policies

Third Party Only is the minimum level of cover legally required. It covers costs to others in the event of an accident, but does not cover costs for damage to the policyholder’s own car.
Third Party, Fire and Theft covers all the above, as well as damage to the policyholder’s car as a result of fire or theft.
Comprehensive provides the highest level of cover. It includes all features of Third Party, Fire and Theft and, in addition, covers damage to the policyholder’s own car in the event of an accident, regardless of who is at fault.

No Claims Discount or No Claims Bonus is a reduction in your premium for each year you don’t make a claim, building up over time.
Policy Excess is the amount of money that the policyholder agrees to pay towards a claim. This can be voluntary (chosen by the policyholder to reduce premium costs) or compulsory (defined by the insurer).
Telematics Insurance Policy involves installing a black box in the insured vehicle to monitor driving behaviour. This can result in lower premiums for safe drivers.

Risk factors: Insurers base the cost of motor insurance on various criteria including the driver’s age, driving experience, claims history, and the type of car driven.
Modifications: If you make modifications to the vehicle without informing the insurer, it may invalidate your insurance.

Immediate notification is necessary after an accident. The policyholder should inform the insurer about the accident and follow the claim process as instructed.
Claim assessment: The insurance company will investigate the claim. This may involve assessing damage, reviewing evidence, and determining who is at fault.
Settlement: If the claim is approved, the insurance company will pay out for repairs or replacement. The amount paid out will be the claim amount less any excess.