Thursday, February 12, 2009

Motor insurance jargon buster



Sadly, like any financial product, car insurance can be a minefield of difficult terminology and confusing jargon.

moneysupermarket.com wants to help you find the right car insurance deal for you and so we`ve compiled a guide to help bust through the jargon.

ABI group – Your car will be given a specific ranking based on the level of risk involved with each car type and model.Approved repairer – Repairers recommended by your insurers.DOC cover – Otherwise known as Driving Other Cars.Fault/no-fault claim – A no-fault claim is when the insurer can recover the costs from someone else. A fault claim is if they cannot recover the costs regardless of whether the accident was your fault.Indemnity - Insurance policyholders are put in the same financial position after a loss as they were immediately before it.

No comments:

Post a Comment