Car Insurance

Whether it’s your pride and joy or the family wagon, this will provide reliable protection on the road for you, your loved ones and your vehicle.B & L Financial Services

Depending on the type of cover you choose, Car insurance can protect against loss or damage to your car and cover you for your legal liability for loss or damage to another person’s property.

There are 3 different types of insurance you are able to obtain on your car.

  • Third party – covers the costs of damage to another person’s car should you be involved in an “at fault” accident.
  • Third party fire and theft – covers the cost of damage to another person’s car, as well as cover for your car should it be stolen or destroyed by fire.

NOTE – both covers above provide no cover for the damage to your car should you be involved in an at fault accident.

  • Comprehensive – provides cover for both yours and another person’s car whether you or the other driver is at fault. Conditions apply.

Why would I need car insurance?

Most of us rely on our car as our main mode of transportation: Going to work, taking the children to school or sporting activities. Replacing or repairing a vehicle after it has been damaged or stolen can be an expensive exercise. With the right level of Car insurance you can take comfort knowing that any expenses resulting from a car theft or accident will be taken care of.

There are many different policies available on the market. Therefore when buying a vehicle insurance policy you should consider the:

No Claim Bonus

As a reward for having continually comprehensive vehicle insurance with no claims, your insurer may reward you with a no claim bonus discount. This discount is then applied to the premium that you have to pay. If you do claim, your bonus may be reduced, although if the accident is not your fault, certain insurers will leave your bonus intact. Once you have gained the maximum no claim bonus, some insurers will provide you with an option to “protect” your no claim bonus by paying an extra premium, so you’re not penalised for just one claim.

Excess
This is the amount payable by you in relation to an insurance claim. However if a third party is responsible for the claim and they can be identified, then generally you may not have to pay this amount.

Market Value or Agreed Market Value
Most policies provide settlement for a total loss claim (the car is stolen or irredeemably damaged) on a “market value” basis. This means you are entitled to an amount representing the cost of a vehicle of similar make, model, age and condition. Or, if the vehicle is less than one year old, some insurers will replace it with a new vehicle of the same make and model you lost.
An Agreed Market Value cover is where the insurer and yourself agreed on a value that the vehicle is to be insured for. In the event of a total loss this is the amount that you should be paid.

What about my caravan?B & L Financial Services

You may be considering insuring your motor vehicle: Do you tow a caravan? Is it covered? Caravan Insurance is designed to provide you with comprehensive cover for the Caravan in the case of an accident/event and/or accidental damage to other people’s property up to a specified limit.

What about my boat?B & L Financial Services

Comprehensive Boat Insurance protects you against the cost of accidental damage to or theft of your boat. It also includes Third Party Liability Boat Insurance.
Third Party Liability Boat Insurance may protect you against certain amounts you are legally liable to pay another person for death or bodily injury or damage to their property, resulting from an accident involving your boat, up to a limit. This includes legal costs.

If you would like further information on the products we offer or would like a quote on Car, Caravan or Boat Insurance please contact our office.