The period of time for which a policy is issued to cover.

Any person who becomes involved in a claim against an insurer and their client or Who is claimed against by an insurer and their client. If you crash your car into someone you are the first party, your insurer the second party, and the person that you collide with is the third party. If they crash into you, the same applies.

A relatively cheap form of car insurance. Like third party coverage, but with cover against fire or theft as well.

This is a decision made by an insurance company that it is uneconomical to repair your car.

This is the situation when a customer takes out too little insurance, paying smaller premiums than they should. Obviously the insurance company would be well within its rights to only pay out exactly what was covered under the policy which could mean that a similar car would not be able to be bought.

Someone who assesses an insurance risk and decides the correct premium to charge for insuring that risk.

Where an insurance company takes into account known facts like your age, sex and health, in order to assess the likelihood of your making a claim on the policy. Your insurance premiums are calculated on these and other factors.

A policy that provides recovery and repair services for vehicles/motorists for when they break down.

This is the amount of money that you have to pay, in return for a reduced premium, in the event you make a claim.

Valuables include jewellery, photographic equipment, musical instruments and stamp and coin collections. Cover for valuables will be limited on all contents policies and will vary with the amount of cover sought and the value of the valuables.

In return for restricting the driving of the car to certain people, insurers will reduce the premium charged.

A provision that sets certain conditions under which an insurance policy will be kept in full force by the company without the payment of premiums.

The term used to describe a vehicle which is a total loss i.e. beyond economic repair.