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.
Your log book or V5, is proof that you are the registered keeper of a vehicle. This means that you’re responsible for registering and taxing the vehicle. It contains all the information about your car, such as the name and address of the registered keeper, date first registered, number of previous registered keepers, the car’s Make and Model, colour and engine size.
Insurance excess is the defined amount you agree to pay towards any claim you make. Voluntary excess is the amount that you are willing to pay in addition to the compulsory excess. You can decide how much voluntary excess you wish to pay when you are taking out your policy.