Comprehensive Motor Vehicle Insurance Premium, Excess and Claims Guide





Key premium factors Premium impact Where you live Areas with higher rates of theft or accident may attract higher premiums. The vehicle being insured The premium we charge will take into consideration the characteristics of the range of different vehicles we insure. For example some vehicles attract a higher premium than others because they have a higher repair cost due to things such as vehicle model and age. Modifications and non-standard accessories Any modifications or accessories fitted to your vehicle that we have agreed to insure for an additional value may result in either a premium increase or discount. The agreed value you choose for your policy The higher the agreed value, the higher the premium. The purpose for which the vehicle is used If the vehicle is for business use rather than private use the premium will be higher. Whether the vehicle was purchased under a finance arrangement If the vehicle is financed, rather than owned outright, the premium will be higher. The frequency premium is paid You will pay less if you choose to pay your premium annually rather than paying by monthly instalment. Whether you select a voluntary excess The higher the amount of the voluntary excess you choose, the more it will reduce your premium. The age, gender, licence, driving, insurance and criminal history of all regular drivers who use your vehicle listed on your policy schedule These factors are all relevant to the likelihood of the claim and the risk we are accepting and will increase or reduce the cost of your insurance. Any discounts for which you are eligible If you are eligible for any of our discounts this will attract a lower premium. The main discounts we offer are discussed in more detail in this Guide. The optional covers you have selected Selecting an optional cover such as ‘Excess-free glass cover’ or ‘Rental car following accidental damage’ will attract a higher premium. Importantly, the information you give us will determine how the risk is assessed and therefore the amount of your premium. You need to check your policy schedule to ensure all information is correct. If the information is not correct please call us immediately















 


 

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