Discount on Own Damage premium in package policies is available to Individual, Joint owners, Hire purchaser or companies who are members of recognized Automobile Association/s.
Insurance Encyclopedia
Motor Insurance Discounts : Use of vehicle within Insured’s Own Premises/Sites
Discount up to maximum 33.1/3% may be allowed where use of vehicle is confined to sites (as applicable to goods carrying vehicles only.). The vehicle is not required to be registered under MV Act and is to be used only on site to which the public has no general right of access.
Motor Insurance Discounts : Vehicles Designed for Use by Physically Challenged
A discount of 33% of premium is normally allowed for vehicles designed for physically challenged.
Motor Insurance Discounts : Vintage Cars
Vintage cars are insured as valued policies on 25% discount on OD Premium. Agreed value cover is permitted for Vintage Cars for a specified sum insured as compensation for TL/CTL without deduction of depreciation.
Motor Insurance Information Centre (MIIC)
Wholly owned subsidiary of the Motor Insurers’ Bureau that tackles the crime of uninsured driving. MIIC has created the Motor Insurance Database – the platform for achieving its objective. This database also enables the MIIC to fulfil the role of national information centre as required by the Fourth EU Motor Insurance Directive to make cross-border claims less onerous. (Visit www.miic.org.uk).
Motor Insurance, Vehicles Requisitioned By Government
The vehicles requisitioned by Government are automatically held covered during requisition period, without any additional premium. The loss/claim is payable by insurer, in excess of amount paid by Government.
Motor Insurers’ Anti-fraud and Theft Register (MIAFTR)
ABI-based computerised log of all total loss and theft of vehicle claims. Insurance companies and Lloyd’s participate in the scheme, which assists in tracing and recovering vehicles. MIAFTR links directly with DVLA facilitating loss history checks by the public. It also checks vehicles against hire purchase information to ascertain if the insured still has a debt.
Motor Insurers’ Bureau (MIB)
Private company established to enter into Agreements with the government to compensate the victims of negligent uninsured and untraced motorists. Every insurer underwriting compulsory motor insurance is obliged to become a member and contribute to the funding. The UK Guarantee Fund compensates victims of the motorists concerned when there is no other source of compensation. MIB also acts as the UK Green Card Bureau to ensure that the system operates satisfactorily in the UK. See UNINSURED DRIVERS AGREEMENT; UNTRACED DRIVERS AGREEMENT.
Motor Insurers’ Bureau Uninsured Drivers Agreement
See: UNINSURED DRIVERS AGREEMENT.
Motor Legal Expenses
Helps the motor insured to: (a) pursue uninsured loss claims, including personal injury, against third parties; (b) defend motoring prosecutions; (c) handle disputes regarding vehicle sales, repairs, etc; (d) access a legal helpline. Cover may extend to free car hire, replacement car facility and rescue/recovery in the UK.