Insurance jargon

Need a little help understanding insurance speak. Here’s a rundown of some phrases:

Cover The details of what your policy protects you against

Premium What you pay for your insurance policy

Claim The money you ask your insurer to pay if something happens

Excess You pay for the first chunk of a claim; that’s the excess. How much depends on your policy and claim

No claims bonus (NCB) If you don’t claim for a certain period, often one year, you get an extra year’s NCB when you renew your policy

Extras This could include windscreen cover, legal cover (legal advice) and free breakdown cover

Write-off This means it’ll cost more to repair your bashed up car than it’s worth. Your motor doesn’t even need to be a wreck; fancy stuff like air con and airbags are expensive to repair

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