Insurance

What Is indemnity? UK Meaning Explained

Indemnity is the insurance principle of restoring a policyholder to the financial position they were in before a loss, no better and no worse. Payouts reflect the actual value of what was lost, often after deducting for age and wear.

15 Jun 2026 · 1 min read

What Is new for old cover? UK Meaning Explained

New for old cover is an insurance basis that replaces a lost, stolen or damaged item with a brand-new equivalent, without deducting for age or wear. It is common in home contents policies for possessions like furniture and electronics.

15 Jun 2026 · 1 min read

What Is telematics? UK Meaning Explained

Telematics is the technology that records and transmits data about how a vehicle is driven, using a fitted device or a smartphone app. Insurers use it to measure real driving behaviour such as speed, braking, mileage and time of day.

15 Jun 2026 · 1 min read

What Is the Motor Insurers Bureau (MIB)? UK Meaning Explained

The Motor Insurers Bureau (MIB) is a UK body that compensates victims of accidents caused by uninsured or untraced drivers. It is funded by a levy on every motor insurer, so all insured drivers contribute to it through their premiums.

15 Jun 2026 · 1 min read

What Is continuous insurance enforcement? UK Meaning Explained

Continuous insurance enforcement is the UK rule that a registered vehicle must be insured at all times unless it has a Statutory Off Road Notification. Keeping an uninsured registered vehicle is an offence, even if it is never driven.

15 Jun 2026 · 1 min read

What Is a cancellation fee? UK Meaning Explained

A cancellation fee is a charge an insurer applies when a policyholder ends a policy before its term finishes. It covers administration costs and is set out in the policy, on top of any deduction for cover already used.

15 Jun 2026 · 1 min read

What Is a mid-term adjustment? UK Meaning Explained

A mid-term adjustment is a change made to an insurance policy during its term rather than at renewal, such as updating an address, adding a driver or changing a vehicle. It can alter the premium and may carry an administration fee.

15 Jun 2026 · 1 min read

What Is underwriting? UK Meaning Explained

Underwriting is the process an insurer uses to assess the risk of insuring a person or asset, decide whether to offer cover, and set the premium and terms. It turns information about the applicant into a price and policy conditions.

15 Jun 2026 · 1 min read

What Is compulsory excess? UK Meaning Explained

Compulsory excess is the fixed amount an insurer requires a policyholder to pay towards any claim. It is set by the insurer based on risk factors such as the driver's age and the vehicle, and it cannot be reduced by the customer.

15 Jun 2026 · 1 min read

What Is voluntary excess? UK Meaning Explained

Voluntary excess is the amount a policyholder chooses to add on top of the compulsory excess when buying insurance. Agreeing to pay more towards any future claim usually lowers the premium, because the customer absorbs a larger share of each loss.

15 Jun 2026 · 1 min read

What Is a protected no claims discount? UK Meaning Explained

A protected no claims discount is an optional paid extra that lets a driver make a limited number of claims within a set period without losing the no claims years they have built up. It shields the discount, not the underlying premium.

15 Jun 2026 · 1 min read

What Is a courtesy car? UK Meaning Explained

A courtesy car is a temporary replacement vehicle provided while an insured car is being repaired after a claim. It is usually a small standard model supplied by the approved repairer, not a like-for-like match for the original car.

15 Jun 2026 · 1 min read

What Is a write-off category? UK Meaning Explained

A write-off category is the salvage grade an insurer assigns to a damaged vehicle deemed uneconomical or unsafe to repair. UK categories A, B, S and N describe how badly the car is damaged and whether it may return to the road.

15 Jun 2026 · 1 min read

What Is fronting? UK Meaning Explained

Fronting is a form of motor insurance fraud where a lower-risk person is falsely named as the main driver of a car, while the real main driver is listed as a named driver, to obtain a cheaper premium.

15 Jun 2026 · 1 min read

What Is a named driver? UK Meaning Explained

A named driver is a person listed on a motor insurance policy alongside the main policyholder, permitting them to drive the insured car. The named driver shares the cover but does not own or control the policy itself.

15 Jun 2026 · 1 min read

What Is comprehensive insurance? UK Meaning Explained

Comprehensive insurance is the highest standard level of motor cover. It pays for injury and damage caused to others and also for damage to the policyholder's own vehicle, including in accidents that were the policyholder's fault.

15 Jun 2026 · 1 min read

What Is third party insurance? UK Meaning Explained

Third party insurance is the minimum legal level of motor cover in the UK. It pays for injury to other people and damage to their property caused by the policyholder, but never for damage to the policyholder's own vehicle.

15 Jun 2026 · 1 min read

What Is IPT? UK Meaning Explained

IPT, or Insurance Premium Tax, is a UK tax charged on most general insurance premiums, including motor, home and pet cover. It is collected by the insurer and passed to HMRC, so the quoted price already includes it.

15 Jun 2026 · 1 min read

What Is a black box policy? UK Meaning Explained

A black box policy is motor insurance that uses a fitted device or app to record how, when and where a car is driven. Premiums are then adjusted to reflect the driver's actual behaviour rather than statistical averages alone.

15 Jun 2026 · 1 min read

What Is a no claims discount? UK Meaning Explained

A no claims discount is a reduction on a motor insurance premium earned for each consecutive year a driver holds a policy without making a fault claim. The discount grows with each claim-free year and can cut the premium substantially over time.

15 Jun 2026 · 1 min read

What Is an insurance premium? UK Meaning Explained

An insurance premium is the price a policyholder pays an insurer in exchange for cover, charged either as a single annual sum or in monthly instalments. It reflects the insurer's assessment of risk plus Insurance Premium Tax and any arrangement fees.

15 Jun 2026 · 1 min read

What Is an excess? UK Meaning Explained

An excess is the fixed sum a policyholder pays towards a claim before the insurer covers the rest. On a settled claim of 2,000 GBP with a 350 GBP excess, the insurer pays 1,650 GBP and the customer funds the excess.

15 Jun 2026 · 1 min read

UK Home Insurance Statistics 2026

UK home insurance statistics for 2026: average premiums by cover type, total claims paid, weather and flood claim costs, subsidence payouts and multi-year premium trends, every figure sourced from ABI and FCA primary data.

16 Jun 2026 · 8 min read

UK Car Insurance Statistics 2026

UK car insurance statistics for 2026 compiled from ABI, MIB, DfT, HMRC and FCA primary sources: average premiums, total claims paid, uninsured driving figures, Insurance Premium Tax and regional data, every number cited inline with source and date.

16 Jun 2026 · 8 min read

England vs Costa Rica World Cup 2026: Travel Money, Insurance and Fan Finance Guide

England face Costa Rica in their World Cup 2026 opener. Here is everything UK fans travelling to North America need to know about travel money, insurance, ESTA and costs.

16 Jun 2026 · 3 min read

Petplan Pet Insurance Review UK: Is the Higher Premium Worth It in 2026

Petplan pet insurance review UK 2026. Allianz-underwritten, 45 years in market, 97% claims paid, direct vet payment at most UK practices. Higher premiums vs competitors -- what you get for the extra cost.

16 Jun 2026 · 7 min read

Agria Pet Insurance Review UK: 98% Claims Paid, Cover Levels and What Customers Report

Agria pet insurance review UK 2026. 98% claims paid rate, 4.8/5 Trustpilot, lifetime cover to £12,500, no upper age limit for existing customers. FCA authorised. What Agria covers and what it excludes.

16 Jun 2026 · 7 min read

Cat Insurance UK 2026: Best Policies, What They Cover and How Much It Costs

Cat insurance UK 2026: lifetime vs time-limited policies, average claim costs, most common cat conditions, how age affects premiums and what the FCA found about cat insurance distribution.

16 Jun 2026 · 9 min read

Dashcam Insurance Benefits UK: Does a Dashcam Lower Your Premium and How to Use Footage in a Claim

Whether a dashcam lowers your car insurance premium in the UK, how to submit dashcam footage in a claim, its use as evidence, data protection considerations, parking mode cover and front versus front-and-rear cameras.

16 Jun 2026 · 6 min read

Storage Unit Insurance UK: What Policies Cover, Common Exclusions and Whether You Need It

How storage unit insurance works in the UK, the limited cover facilities provide, whether home contents insurance extends to storage, specialist policies, common exclusions, how to value stored items and self-storage versus managed storage.

16 Jun 2026 · 6 min read