Collingwood Insurance Jargon Buster
Learning to drive and getting insurance can be a confusing time with so many new words and terms thrown at you at every turn. We have put together this helpful jargon buster to help you understand key terms relating to your policy.
The cost of replacing the insured vehicle with a vehicle of similar make, model, age and condition (including similar mileage).
The Motor Insurance Database is the central record of all insured vehicles in the UK. It is managed by The Motor Insurance Bureau (MIB) and is used by the Police and the Driver and Vehicle Licensing Agency (DVLA) to enforce motor insurance laws.
This is when you make changes to your insurance policy before the end of the policy. It is important to keep all of your insurance details up to date. Adjustments to your policy details may come with additional costs and changes to insurance premiums.
A car modification is a change made to a vehicle that differs from the manufacturers original factory specification. Examples of modifications are tinted windows, suspension changes, adding spoilers or changing exhaust. Modifications to your car may impact your insurance so you should discuss with your insurer before making any changes.
MOT is a test that all UK road vehicles more than three years old have to pass each year in order to prove that they are safe to drive. This is done by a garage to ensure the car is safe to drive and there are not any issues that need attention.