Car insurance excess
This is how much needs to be paid by the policyholder if they want to make a claim. It’s usually made up of two parts: compulsory and voluntary excess.
Car insurance policy
Your car insurance documentation detailing the terms and conditions of your contract. There are three types of car insurance policy: third party, third party fire and theft, and comprehensive.
Car market value
This is how much it would cost to replace the car named in an insurance policy with one of a similar age, condition and mileage, should it need to be written off.
Certificate of insurance
This is the legal proof that a driver is insured. It shows what car is covered, who is allowed to drive it and what it can be used for, such as social, domestic and pleasure, commuting or business use.
The formal application made to an insurance provider due to an event such as an accident, when the policyholder wants to recover the cost of damage covered by their policy.
Class of use
Class of use means what you intend to use your car for. There are three classes of use groups: Social, Domestic and Pleasure (SDP), Social, Domestic, Pleasure and Commuting (SDP+C), and Personal Business use (SDPC+Business use).
Comprehensive car insurance
Comprehensive car insurance is the highest level of cover available. It insures the policyholder’s car as well as any third parties involved in an accident.
The amount of money policyholders must pay in order to make a claim. The amount is set by the insurance provider and is non-negotiable.