LEARNER DRIVER INSURANCE
- Short Term & Annual Policies for Learners
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- Cover for Practising in Someone Else’s Car
- Insurance for Learning to Drive in Your Own Car
Boring Car Insurance Jargon Translated
Let’s face it- car insurance can be a snooze fest. Unfortunately, as a functioning human being, it pays to know how it works.
We’ve broken down the car insurance jargon for you, so you can understand what it is and more importantly have a better chance of purchasing it yourself.
Learning to drive is all about new-found freedom and excitement of actual responsibility! So, why not let mum or dad take a back seat when it comes to sorting the car insurance?
Car insurance definition
Let’s start off with the car insurance jargon basics by defining the main one! The plain definition of car insurance is paying a price for a contract between you and a company that will protect you against financial loss in the event of an accident or theft.
You pay the money to the insurance company and in return, the insurance company agrees to pay your losses. Still with us? Okay, let’s cover the several types of protection.
Third party, fire and theft definition
Car insurance policies can offer various levels of protection.
In the event of a claim, third party car insurance will reimburse any losses to anyone’s car you damaged, not your own.
Third party, fire and theft is the next level up. It will cover any potential damage you may do to someone else’s car, but also your own only in the event of a fire or theft.
Comprehensive cover definition
Comprehensive cover is a higher level of protection. This covers against any accidental damage on your own vehicle, someone else’s vehicle, fire, and theft in the result of a claim.
All policies sold by InsureLearnerDriver provide comprehensive cover (only the best for our customers!).
Your excess is the amount of any potential claim you are responsible for. For example, if your excess is £100 and the cost of your claim is £300, the insurer will pay £200 and you will pay £100.
With InsureLearnerDriver, you can choose your own excess to suit you.
No Claims Bonus definition
A No Claims Bonus is a reduction of premium charged for insurance when no claim has been made during the policy.
Basically, it’s the insurer’s way of saying “You look as if you’re a safe driver. It’s less likely that you’ll claim, so here’s a discount – well done!”.
If you have a short-term InsureLearnerDriver policy, you cannot start earning a No Claims Bonus.
However, an annual owner learner driver policy has multiple benefits, including the potential to start building your own No Claims Bonus, even before your driving test.
The MID stands for the Motor Insurance Database.
In simple terms, it’s a fancy virtual filing cabinet of vehicles which are insured on the roads. This database helps the police and DVLA to keep a record of all insured vehicles.
For owner driver policies, it can take a up to 7 working days for the MID (Motor Insurance Database) to update with new vehicles on cover. For borrowed vehicles, as the vehicle must have an annual policy, we do not submit details to the Motor Insurance Bureau. Your vehicle not showing on the MID after purchasing a policy doesn’t necessarily mean that you’re not insured. Just remember to take your Insurance Certificate and Policy Schedule with you when you’re on your drive.
We know car insurance jargon appears boring but understanding it will pay off in the future – trust us. Think you’re up to it? Click the link below to get learner driver insurance!