Motor insurance


 

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Motor insurance

The insurance of motor vehicles covering damage or loss and liabilities for injuries to other people and damage to property.Drivers in the UK have to insure against third party claims. Under this type of insurance, if it is proven that the insured is the cause of an accident, the insurance company will only pay for injury or repairs for damage to the property of the third party.A variant of this is third party fire and theft insurance which is basically third party insurance plus additional cover if the insured's vehicle is damaged by fire or if stolen.For a higher premium, comprehensive insurance gives additional cover to the insured including damage to his/her vehicle, personal effects and overseas travel etc.



Similar Matches

Mortgage life insurance

Mortgage life insurance

A life insurance policy which pays off the outstanding balance of a mortgage in the event of the death of the insured.


Loss of income insurance

Loss of income insurance

Insurance coverage that will pay out income that a policyholder loses as a result of a disability, injury, or business disruption.


Insurance policy

Insurance policy

The document which specifies the details and conditions of cover of an insurance contract together with the premium payable.


Insurance principle

Insurance principle

The law of averages. The average outcome for many independent trials of an experiment will approach the expected value of the experiment.


Insurance premium

Insurance premium

Payments calculated by the insurance company based on risk factors that must be made by the insured to guarantee protection of property loss under an insurance policy.


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