Vehicle insurance can be a tricky task, especially when you’re unsure of what policy is best for you and your needs. As reliable insurance brokers in Bolton, we spend time with you and help you understand and fulfil your insurance needs.
Finding the right coverage options is our top priority so, in this article, we’ll discuss some important factors to consider when taking out insurance, including the difference between collision and comprehensive coverage, how prices are determined, black box policies and much more.
Insurance prices can be calculated in a number of ways and will vary depending on what you want to buy, though they are worked out through the same fundamental factors. These factors include the make and model, how the vehicle is used (business/leisure), and the driver’s personal record.
Although these factors make up the foundations of the policy, other elements are also taken into consideration, such as:
Using fleet insurance as an example, the package is tailored around protecting your fleet from liabilities that arise daily. Taking out a comprehensive fleet insurance policy is a step in the right direction as it provides protection for all your commercial vehicles under a single policy.
It’s easy to get confused when choosing which insurance you need with jargon words like collision or comprehensive. Below we have outlined the meaning of each:
While comprehensive and collision coverage are optional to protect your vehicle, liability insurance is a legal requirement that covers the costs associated with injuries, death, or damage caused to other vehicles or surrounding properties.
The main distinction between third party cover and comprehensive insurance is that comprehensive cover safeguards your vehicle from accidental damage claims whilst third party fire and theft does not.
In terms of price, for the majority of drivers, comprehensive car insurance will cost the same (or less) than third party cover, and you have the added benefit and peace of mind that your vehicle will be covered for any damage.
Most insurers will base the annual premiums of black box policies on driving behaviour, inclusive of mileage driven, braking, accelerating and speed. As most accidents happen early in the morning or late at night, driving during these times could affect your driving score on some policies. However, it’s worth noting that very few black box policies will restrict the time of day that you can drive.
No matter how small, you must report all incidents to your insurance provider — this includes accidents that weren’t your fault. You could be at risk of having your policy cancelled or payout refused if you don’t declare an incident, so it’s important to keep a record and report what happened.
When you report an accident that wasn’t your fault, it should not affect your no-claims discount though it’s essential to consider that it could impact your premium when you renew the policy.
As insurance brokers in Bolton, IC Insurance does all the hard work for you. Let us take care of your insurance needs. You don’t have to worry about a thing – we’ll search all companies to find the best quote and provide you with affordable insurance cover on our vast portfolio of products.
We’re a goods in transit insurance broker and can give you details of the type of insurance cover you need to protect packages and delivery items while out on the road as well; crucial if you need to transport merchandise from point A to B. Our process is quick and straightforward and offers you handpicked insurance policies you can trust.