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Motor Insurance

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  • True or False: The more claims you make, the cheaper the insurance
    False
  • True or False: Motor Insurance is Compulsory in Ireland
    True
  • Second Party
    The second party is the insurance company the first party is insured with.
  • What would lower the amount someone has to pay for motor insurance?
    No-Claims, Driving Experience etc.
  • Why do you think motor insurance is often more expensive for people who drive sports cars or very old cars?
    Higher risk, More expensive parts, repair costs, theft risk
  • 3 examples of motor insurance companies
    Any 3
  • First Party
    The first party is the person who takes out the insurance.
  • What are the 3 types of motor insurance?
    Comprehensive, Third Party​ and Third Party Fire and Theft
  • Why do you think young drivers or new drivers might have to pay more for car insurance?
    They are seen as a high risk group
  • What does Comprehensive Insurance cover?
    Loss, Theft or Damage
  • No-Claims Bonus
    A no-claims bonus is a discount on an insurance premium. It rewards the insured party for not making any claims on the policy.
  • Third Party
    The third party is any person or item that suffers a loss caused by the first party.
  • Which group are likely to pay the highest amount for motor insurance?
    Young Drivers, mainly Males
  • Loading
    Loading is an extra amount added to the basic premium to cover increased risk.
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