NORTHERN IRELAND’s

INSURANCE & YOUR VEHICLE
Getting the right insurance cover is one of the biggest
expenses you will face as a new driver.
Many new drivers will get their first insurance as a named driver on their parent’s policy and will
only get to drive the car occasionally. If you are lucky enough to get your own vehicle, there are lots
of insurance options to consider.
Here we try to bust the jargon and give you a brief description of the key insurance terms;
THIRD PARTY ONLY
Provides cover for causing accidental injury or
death to other people and is usually limited at
£20 million for accidental damage to other
people's property. This excludes damage to your
own vehicle.
THIRD PARTY FIRE & THEFT
The cover is the same as Third Party only, but is
extended to cover your vehicle in the event of an
electrical fire or its theft.
FULLY COMPREHENSIVE
The cover includes Third Party Fire and Theft as
well cover for damage to your vehicle in the event
of an collision. Windscreen cover is typically
included.
HOW DO INSURANCE COMPANIES DECIDE ON
WHAT YOU PAY
The main rating factors that influence the price of
your insurance are:
YOUR AGE
Young drivers are particularly costly for insurers
to cover as the number of collisions they have
had historically is high. There are fewer insurance
companies who want to insure young drivers
because of the perceived risk. Insurance
premiums fall as you get more experience.
THE VEHICLES INSURANCE GROUP
Cars with smaller engine sizes are typically
cheaper to insure, for example a 1 or 1.2 litre car.
Insurers also calculate the insurance group based
on the cost of repairing your vehicle, the price of
parts and labour.
page # 46