The UK government has made it mandatory for all vehicle owners to get Motor Insurance. The Road Traffic Act states that all motorists either get insurance for their vehicles or deposit a predefined amount with the Accountant general. This is done in order to compensate for injuries caused to others in case of negligent and irresponsible driving.
The insurance can be a Third Party Only Insurance. It provides minimum cover to satisfy the requirements of the Act. It is absolutely essential to get an insurance because it is considered an offense to drive on public roads without it. There are certain vehicles, however, that are exempted from this. These include vehicles owned by local authorities, security services, police authorities and other public servants.
The insurance certificate has to be carried in the vehicle at all times. It can be asked for at any time by the traffic police authorities. If someone is found driving without an insurance, he/she is penalized.
There are several factors that determine the premium of an insurance policy. A low budget car is cheaper to insure as compared to fancy luxurious cars. The other determinant is the age of the driver. An experienced driver are charged less for the vehicle's insurance whereas a young and amateur driver can only get a more expensive cover. Young drivers can appear for the Pass Plus test to obtain significant discounts in their insurance policy. This is an initiative by the Driving Standards Agency(DSA). Once this test is cleared, its certificate can be showed for availing the above mentioned discount.
After getting a motor insurance of one's choice, one cannot be negligent and care-free. One should always take precautions like using gear-locks and steering locks, and parking at the correct place. These basic measures can also help in reducing your monthly premium.
Before one can make an insurance claim, a thorough inspection is carried out by the insurer. In case of a collision, the parameters investigated are the circumstances during which the incident occurred, cause for the accident is thus, determined. It is also probed whether the driver was under the influence of alcohol etc. However, in case of a theft, the series of events leading up to the theft are investigated. Based on this, a report is made that helps the insurer decide the most suitable cause of occurrence of the collision.
In case of a collision, compensation is provided to the driver of the vehicle along with damages caused by the vehicle to other's property. In case of a damage caused by fire or any other natural disaster, the vehicle can also be replaced, subject to certain conditions. The vehicle owner needs to carry out an extensive research on the types of deals that are present in the market. A lot of information is present on the Internet that helps the user compare and decide which motor insurance suits him/her best. A correct and informed decision can go a long way in securing the well being of one's vehicle.
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