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Motor Insurance:
The insurance of motor vehicles and liabilities arising out
of the use thereof. The principal forms of cover available
are:
(a) Comprehensive covering loss/damage to the insured’s
vehicle, liability to third parties, and various other sections
depending on the type of vehicle involved. In private car
insurances the extensions include personal accident cover,
rugs, coats and personal effects, medical expenses, and foreign
use. Commercial vehicles do not have these extensions, but
include a towing of disabled vehicles section. In the private
car market, limited comprehensive cover is available.
(b) Third party fire and theft. Third party risks plus damage
to the insured’s vehicle if caused by fire and theft.
(c) Third party only.
(d) Act only cover, i.e. cover in accordance with the compulsory
insurance requirements of the Road
Traffic Act 1988 ).
Insurers provide different rating
structures and policy forms according to the type or use
of vehicle proposed for insurance. The principal types are:
private cars (excluding hire cars); commercial
or goods-carrying vehicles; agricultural and forestry
vehicles; motor
trade; motorcycles,
private, business and trade; mopeds;
and special types.
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