There are two main covers for motor vehicle insurance:
If you have a car, it makes sense to protect yourself against unexpected costs with car insurance. If your vehicle is leased or under any finance at all your financier will insist you carry comprehensive car insurance. Accidents can be costly – especially when you’re at fault. If your car is involved in an accident you caused, you’ll not only have the expense of repairing your own car – you’ll generally have to pay for damage to the other vehicle too.
Unfortunately, not everyone is a great driver. You might be involved in an accident that wasn’t your fault and the third party should pay for the damage. What if they are not insured and not in a financial situation to pay for your damages. You’re on your own to wear the cost of your repairs if you do not have a suitable insurance policy.
Comprehensive car insurance will usually provide cover for you to hire a car for a period of time as a result of your vehicle being stolen. Most comprehensive motor vehicle insurance policies give you the option to extend cover to hire a vehicle whilst the vehicle is being repaired in the event of an accident. Speak to your broker to make sure you have that cover if required.
No that’s not necessarily the case. Upon advising your broker they will be able to arrange to have your son noted on the policy as a driver. An additional premium will be charged, however at least they are covered and are now building up a No Claim Bonus of their own. Age and inexperienced driver excesses do apply, but it is worthwhile knowing that if an accident occurred the car is covered.