Car Insurance: What Am I Covered For?
Posted on 28th September 2016 by French Car Specialists
Although you have to have your car insured by law, there are various levels of cover that you can opt for. Knowing what you’re covered for under each form of insurance cover is essential, particularly when it comes to making a claim or knowing what you’re insured to drive and where.
As such, in this month’s article we’ll be breaking down what different insurance policies cover so you can make the most informed decision possible regarding your requirements. In doing so, we’ll also be letting you know what your insurer will cover you for when your vehicle is damaged and you need to visit a garage. And finally, we’ll be answering a couple of frequently asked questions towards the end to ensure you’re up to speed with all things insurance.
This type of insurance is the minimum level of insurance you are legally obliged to commit to – it is also the cheapest. Third party insurance covers you for any damage that you may cause to other vehicles and properties, but you will have to foot the bill for any damage to your own vehicle, unfortunately.
Third Party Fire & Theft
The next step up on the ladder is third party fire and theft (TPFT), which is the same as standard third party cover except in one key regard: you will also be covered against fire damage and theft of your vehicle. You would still need to foot the bill for damages to your vehicle following an accident that was your fault, but if your vehicle is the victim of fire or theft, the insurance company will pay the bill. However, your premium will likely go up following a claim.
If you’re fully comp, you are insured not only to TPFT standard, but you will also be insured for any damage sustained to your vehicle, even if you were at fault. Of course, a claim would see your premium rise; nevertheless, you would not have to pay the hefty bill for repair upfront and your insurer would pay for the initial repair costs.
Does your car insurance cover you to drive another car?
Generally, this depends on the insurance plan you are on. Some people assume that if they’re on a fully comprehensive plan that they will be able to drive any car, but this may not be the case.
Some insurers may lower the extent of the cover they offer when you get behind the wheel of another vehicle, probably down to third party cover. Others may not even offer this, so it is well worth your time to check the small print to ensure that you’re not breaking the law by driving another vehicle, technically uninsured. You should also check that your policy terms haven’t been updated and changed without your knowledge.
Is my business vehicle insurance tax deductible?
If you are self-employed and use your vehicle for your business, you can claim its insurance back against your tax bill. You would also be able to claim back fuel, repair and maintenance, and even car tax costs back as well. However, you would need to be able to prove that you’re using the vehicle for your own business to claim all of this back, and so keeping your paperwork in order is essential to avoid being caught out.
Citroen-Peugeot Specialists Ltd offer professional, high quality MOTs and car part services at an affordable price for those in the North London area from our centrally located garage in Finchley. We also carry out all manner of repairs and maintenance ranging from air conditioning to clutch repairs, tyre fittings to wheel balancing. To book your vehicle in with us, contact our friendly team today.