saboteur Posted January 5, 2008 Share Posted January 5, 2008 Hi, sorry guys, another boring insurance thread.... Basically I want to know the main differences between fully comp insurance and third party insurance. I've done a few searches on the forum and google but still none the wiser. Called admiral and the dumb lady gave me some absurd answer As I understand it, third party fire and theft covers the third parties car in the event of an accident? So what happens to your car? You have to pay to get it fixed yourself right? What if the outcome of the claim is unclear (fault wise), then how is the cost spread? (assuming its a 50/50 split) What about legal cover, personal injury and losses recovery? Does this come on 3rd party insurance? Link to comment Share on other sites More sharing options...
Sean1933 Posted January 5, 2008 Share Posted January 5, 2008 Right, today is supposed to be my day OFF of work but here goes : COMPREHENSIVE: Covers your vehicle damage (less any excess) in the event of an accident, fire, theft, malicious damage, any third party claim. THIRD PARTY, FIRE AND THEFT: Covers fire, theft, any third party claim, and *maybe* malicious damage (most dont but read policy wording - some like AA and RAC do last time i checked the wording). THIRD PARTY ONLY: This is the minimum level of insurance cover requiried un the Road Traffic Act. It only covers third party claims. --- Basically if you have any of the above then your insurance will pay any third party damage, loss, injury, etc...if its a fault of partial fault claim. If you DONT have comprehensive cover then you will have to pay for repairs yourself if it was a faul accident. However, if it was a partial fault/non-fault claim then you need to instruct an accident management company (try to avoid) or a solicitor (insurer can instruct if you have legal cover) who will argue liability with the other persons insurer and try to claim you losses back. All loses have to be supported with an estimate/pro-forma invoice. If liability is settle for example 50/50 then you will get 50% of all your losses back, solicitors fees will be paid in full by the other party as per the CPR (Civil Procedure Rules). Injury claims are always dealt with by solicitors, not your insurer who cover the car NOT YOU, therefore injury is an 'uninsured loss'. You can only claim injury if you were not at fault/fully at fault. LEGAL COVER: This is normally included with comprehensice. policies and is normally an optional extra (about £20-£25) with any other level policy. Ask when you buy insurance! Hope that helps Link to comment Share on other sites More sharing options...
saboteur Posted January 5, 2008 Author Share Posted January 5, 2008 Fantastic, thanks... do you work in insurance by any chance?? 1 more if you dont mind: Is there a difference between 'legal cover' and personal injury cover? Common sense says no, but on many insurance websites they do mention these seperately so was just curious. Oh and do insurers really have a 'centralised' database where they can check accidents, claims (non fault ones). Are they linked in any way? If they were then surely they'd know your whole record before you take out cover? Link to comment Share on other sites More sharing options...
Sean1933 Posted January 5, 2008 Share Posted January 5, 2008 Fantastic, thanks... do you work in insurance by any chance?? 1 more if you dont mind: Is there a difference between 'legal cover' and personal injury cover? Common sense says no, but on many insurance websites they do mention these seperately so was just curious. Oh and do insurers really have a 'centralised' database where they can check accidents, claims (non fault ones). Are they linked in any way? If they were then surely they'd know your whole record before you take out cover? No probs mate. Yep im in the industry...not for much longer i hope! Never heard of it being called that, but no not going to make much difference. Legal cover only really comes into play if you claiming injury anyway. Yes the insurance industry do have numerous fraud databases. However only one is *sometimes* checked when taking out a policy (if depends on the insurer). This is called CUE/Motor, basically has details of any registered accident that you have been involved in. When a claim is submitted further databases are checked depending on what is being claimed: CUE/PI - This is mainly checked against the claimant claiming injury. Helps us to check for existing injuries that they may be trying to say our insured caused. Also catches out the high rate claiming fraudsters...normally from Bradford/Middlesex/The Midlands. MIAFTR - Motor Insurance Anti Fraud and Theft Register. Basically checks to see if any vehicle involved has been written off or stolen before. Helps again to check for serial claimants, cloned vehicles, etc. Link to comment Share on other sites More sharing options...
saboteur Posted January 5, 2008 Author Share Posted January 5, 2008 Thank you sir, you're a gent! Link to comment Share on other sites More sharing options...
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