Glossary of Insurance Terms

Insurance Jargon – some helpful explanations

There is often a massive difference when comparing the features and benefits of a standard motor insurance policy you might find on a comparison site to a motor insurance policy that is tailored to prestige vehicle. Each bespoke supercar, prestige car, luxury car and sports car insurance policy A&T could be arranging for you will include a range of added benefits and quality advice and service to match. Don't hesitate to contact our team of dedicated prestige vehicle car insurance brokers for more information regarding what you can expect, on 01202 754900.

Agreed Value

In many cases when dealing with prestige vehicles, we work with insurers to agree the amount to be paid out if you are unfortunate enough to have to make a claim following a total loss as a result of theft or damage beyond repair. By agreeing on this at the start of the policy, it helps to keep the claims process as simple as possible, ensuring swift resolutions of claims and there is no argument to the amount your insurer will pay in the event of a claim which can sometimes occur if they work on a 'market value' basis. 

Any driver extension

This cover is a popular optional cover and doesn’t come as standard on most motor insurance policies. The 'Any Driver' extension means exactly what it says, any driver can drive the vehicle on a comprehensive basis. There are usually some additional restrictions added to this extension, especially on prestige vehicle insurance policies, such as the driver being over the age of 30 and not residing at the address named on the insurance policy. In all circumstances, the owner of the vehicle must have given their permission for an individual to drive it.

Comprehensive driving other cars extension for policyholder and all named drivers

This again is a popular element of cover which many standard motor insurers no longer include on their policies. This extension allows you and any named driver on the policy to drive any other car, with the permission of the owner, on a comprehensive basis.

UK and European motor assistance

This cover is often a paid extra element of cover on a standard motor insurance policy but for a prestige vehicle insurance policy on A&T's scheme, it comes as standard and covers emergency roadside and home assistance should you have any issues with your vehicle. Some examples from A&T scheme policy include:

If your vehicle cannot be repaired wherever your vehicle has broken down, you will be taken along with your passengers, your vehicle and any trailer to your home address or intended destination. If it can be repaired, you will be taken to the nearest repairer of your choice within 25 miles.

If your vehicle cannot be used for eight hours or is stolen and not recovered within eight hours and you are outside the United Kingdom, your policy will cover you up to £1,000 towards hiring another vehicle and the cost of transporting you to your destination.

If your vehicle cannot be repaired or is stolen and not recovered before your departure date or after you have returned, your insurer will cover the cost of returning you to the United Kingdom. Your policy will also cover the cost of returning your vehicle to the United Kingdom or up to £600 to return from the United Kingdom to collect your vehicle once it has been repaired or recovered and up to £100 for storing your vehicle abroad.

Carefully selected repairer network

We believe that you should have total freedom of choice and following a loss, which results in your vehicle needing to be repaired, you will be allowed to choose your own garage or repairer. Alternatively, we can recommend a specialist repairer who is well versed in dealing with prestige vehicles. 

Immediate repair authorisation and 3-year guarantee on repairs

Any repairs will be immediately authorised by your insurer (at selected and approved repairers) and will come with a 3-year guarantee.

Private registration plate cover

Following an unrecovered theft of your vehicle, your policy will pay up to a certain limit, like £5,000, for the loss of use of your personalised registration plate.

Personal accident cover

Your insurer will pay up to a certain limit, for example, £30,000, for personal accident or death to an insured person travelling in or getting in or out of a private vehicle.

£100k legal expenses cover

Cover includes up to £100,000 for any uninsured losses and costs you incur, as well as up to £100,000 to defend your legal rights if prosecuted for an offence connected with driving or using an insured vehicle. This is often an additional cover you would have to pay extra for on a standard motor insurance policy and the limits of cover may differ from £100,000.