Motor Insurance Flashcards
What are the main forms of motor insurance?
Private Car
Commercial Vehicle
Motorcycle
What are the 4 levels of cover available for private motor insurance?
Road Traffic Act only (RTA only)
Third Party Only (TPO)
Third Party, Fire and Theft (TPFT)
Comprehensive
What is the minimum amount of cover required for third party property damage under the RTA 1988?
£1.2 million
What does comprehensive private motor insurance cover that is not covered by TPFT?
Accidental and Malicious Damage to the insured’s car.
In what circumstances would cover for theft of accessories and spare parts be covered by a motorcycle insurance?
Only when the motorcycle is stolen at the same time.
Subject to an additional premium, name 3 possible optional extensions to cover for motorcycle policies?
Trailers
Riding other motorcycles
More than one cycle insured
“Invalid Carriages” (mobility vehicles)
Is peer-to-peer car sharing typically available for private motor insurance policies?
No - this cover is normally excluded as being seen as use for hire and reward. Although if there is no profit to the insured, the policy may be valid.
To have a multi-vehicle policy, all vehicles must be…
Registered at the same address.
Under a comprehensive private motor policy, loss of or damage to accessories and spare parts…
is covered whilst they are on the insured vehicle or in the insured’s garage.
What cover is USUALLY provided automatically for caravans under a comprehensive private car policy?
Third party cover whilst attached to the insured vehicle.
The third party property damage limit under a standard commercial vehicle policy…
Is less than for a private motor policy.
What are the main groups of commercial vehicles?
Goods-carrying vehicles
Passenger-carrying vehicles
Agricultural and forestry vehicles
Vehicles of special construction
What are the two specific exclusions in respect of third party liability?
Damage to property (including the vehicle) owned, held in trust by or in the custody or control of any person claiming indemnity under the cover.
Liability covered by any other policy.
What extension to cover for private motor insurance is excluded for commercial motor policies?
Driving other vehicles.
