ABI (Association of British Insurers)
This is the body that regulates the UK insurance industry.
All risks
Covers all the risks named except for those excluded by your insurers.
Annual policy
A policy that lasts all year rather than for a shorter period.
Approved repairer
A repairer recommended by your insurance company who they will often have an agreement with.
Breakdown cover
The part of the policy that relates to the recovery and repair of the vehicle.
Cancellation clause
The part of the policy that relates to it's cancellation before it's natural expiry date.
Comprehensive cover
A policy that cover your vehicle by others as well as including fire and theft.
Cover
This is the risk against which your policy protects you.
Cover note
A temporary certificate of insurance whilst you are renewing an existing policy.
Declination
A rejected insurance application.
Default
If you fail to pay one or more premiums these are defaults.
Effective date
This is the date of the commencement of the cover.
Endorsement
This is an additional function/addition on a policy.
Exces
The amount of money you agree to pay if you are making a claim. You can have the whole amount waiverd which costs the most or pay more which will decrease the cost of your policy.
Exclusions
Any events not covered on your policy.
Fully comprehensive
A policy which covers damage to the your vehicle as well as others.
Named driver
This is the name of an additional driver other than the owner.
No claims bonus
The accumulative discount earned from previous policies.
No claims discount
The discount earned on the number of no claims over the years.
Optional extras
Could include services such as breakdown cover.
Policy exclusions
Situations not covered on your policy.
Premium
The cost of the actual policy, could be annual or monthly.
Public liability policy
This covers the legal liability of causing injury or damage to others.
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