LadyDPak asked:


I’m not used to private insurance companies with differing rates! Here are the details:
- If I had an older, smallish car, say that cost 900 pounds
- No spots on my driving record, been driving for 10 years, *but*
- I’ve just moved to England from Canada
- I want full coverage, 3rd party, fire and theft

Any advice on who is more, or less, expensive?

Crikey asked:


I have been advised that for first time drivers, the best type of insurance is the third party fire and theft rather that comprehensive. Would you agree?

The UK insurance market, especially that for Van Insurance, has changed significantly during this year as there have been many new entrants in the industry and they are striving to attain their fair share and establish a reputable name. Due to this reason, it is no longer a difficult task to get a suitable quote for the insurance of your vehicle. However, with the increase in the choices, there is also the fact that due to so much market saturation and availability of so many quotes, the policies of different companies vary very slightly from one another – and this sometimes makes it a bit difficult for you to find the policy that suits you best, because it is difficult to choose from policies that resemble each other so much.

According to the motoring laws in the UK, it is mandatory for every vehicle owner to acquire an insurance policy, have a security or make a deposit with the accountant general of the Supreme Court. The major purpose of this law is protection from injuries and damage caused to people by the use of a vehicle.

UK Vehicle insurance

When you are thinking about buying an insurance policy for your van, you look for one that will replace the losses and liabilities caused by accidents, traffic or otherwise. In order to achieve this, the most important aspects of the policy to be analysed are its coverage, usage, benefits and the risks that the policy does not cover, that is, the exclusions.

As far as commercial van insurance is concerned, it is of three types. The first is the fully comprehensive van insurance, which deals with collisions, accidents, damages, fire, theft, wreckage, and burglary. The second type is the third party insurance, which covers only the damages done to third parties. The third type of van insurance is the improved form of the previous type and is called Third Party Fire and Theft Insurance, and it covers your van in cases of fire damage, accidents, explosions and vandalism. The most expensive form of insurance among the three is the fully comprehensive, as it covers your van for most of the risks that might be inflicted.

In UK, there are many companies that provide van insurance. The most notable among them are Norwich Union, Motordirect, Cornhill, Bennetts, NFU Mutual and Endsleigh. Among the newer companies are Budget, More Than, and many others. Some insurance companies sell their policies through brokers while others sell them directly to the public. In order to get the best policy, it is important to spend some time looking into the market to find the details about policies from several companies, so that it is easy to make a comparison.

These days, the most widely practiced and convenient method of getting a quote for van insurance is through internet-based interactive engines, which have relationships with several van insurance companies, and they provide instant quotes. These websites of different companies on the internet have a panel of people who specialise in van insurance. They compare the quotes provided by the companies and suggest the one that suits best by modifying it to your circumstances, hence saving you time and money. In addition, you can also get good discounts from different companies if you have added extra security in your van, such as alarms, immobilisers and tracking systems.

Once you get the quote that is suitable for you and a year goes by, if the premium increases, you always have the choice of getting a new van insurer when your renewal date arrives. There are many new and already existing rival companies, which often offer smaller premiums than others in order to get more clients.



By: Rakesh Gaikwad

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Whether you are a car dealer, own a garage or handle some other type of mechanic’s business, you have to obtain Motor Trade Insurance. This is necessary not only to fulfil your obligation to the UK insurance laws but also to hold adequate cover to guard against losses and damages in the case of accidents, theft and other incidents. The advantage of this is that the trader or his employees can drive any vehicle for business purposes and they would have the Motor Trader Policy, instead of having separate policies for each vehicle, as the vehicle is going to be different every time. This comes in handy for people running dealerships and garages.

The insurance policy protects your business and assets in the case of unpleasant scenarios by covering your financial and material losses. The kind of Insurance policy that you get depends on your individual needs and circumstances. Motor Trade Insurance has five types. These types are: Third Party Only, Third Party Fire and Theft, Comprehensive Policy, Liability Policy and Combined Policy. The first four types are usually characterised as policies for Road Risks. Each of the types has its own features and coverage and hence the premiums also vary.

The policies which come under the Road Risk category cover the vehicle for any damages which are caused during business activities. In contrast, the combined policy gives coverage for several other aspects of your business like equipment, materials, buildings etc. The ideal insurance for you would be the one which suits your needs and circumstances and provides effective coverage, and has a low premium, all at the same time. As many of the policies have some common features, the best way to choose one is by consulting a Motor Trade Insurance professional who would be able to recommend a policy which is best for you. This would save you from getting a policy that does not provide complete protection or provides coverage that you don’t need.

If you want to get Motor Trade Insurance, the easiest way is to do it through a broker as they know the industry and they can get you the features you need within your budget. This will not only save you time and effort but you would also be able to get an excellent deal at a good rate.

After you get your Motor Trade Insurance policy, you can have changes made to it if you think them necessary. You can do that by paying a specific fee and get a feature upgraded or changed.

It is important to keep the insurance company updated with any changes in your business circumstances as they occur, because this will ensure your future premiums – and the fulfilment of your claim would also depend on these changes. It can occur that if you don’t inform the company of a significant change, they may refuse to fulfil your claim when you make it.

Your insurance company would let you know before the policy’s renewal date arrives and you can change your policy or get Motor Trade Insurance from another company if required.



By: Stanley Headley

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