Swinton Specialist Vehicle Glossary of terms
What do we mean by…?
Here are the meanings of some of the words and phrases used on this website. This glossary is here as a general guideline designed to help you with terms that you might not be familiar with. If you need to understand the term in detail and how it applies to you, then have a look at the policy wording.
Click on the relevant letter to jump to the section you need:
Comprehensive Cover:
The widest ranging vehicle insurance cover. In addition to the cover provided by Third Party, Fire and Theft insurance, this also covers your car or motorbike against any damage caused by an accident or someone else, whether you are at fault or not. Terms, conditions, exclusions and excesses apply. Please refer to relevant policy wording for full details.
Compulsory Excess:
The amount of any claim which the Insurer insists you pay in the event of a claim.
Cosmetic Modification:
Alterations to a vehicle which affect its appearance but not its performance such as customised paintwork.
Deductible:
see Excess.
Excess:
The amount of any claim which you agree to pay if your vehicle is stolen or damaged, irrespective of fault. You are entitled to seek recovery from a responsible party in the event of an accident which was not your fault.
Grey Import:
A Grey import is a vehicle designed and built for sale outside the EU, and imported into the UK. As such a vehicle was not originally intended for sale here, it may not be manufactured to European specification and may not have undergone European approval. See also Parallel Import.
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High Group Rated Cars:
This relates to the rating assigned to a specific vehicle by insurance companies. Please see Motor Insurance Groups.
Immobiliser:
This is an electronic anti-theft device that is usually activated when the ignition key is removed and largely prevents unauthorised starting of the engine. Generally these are now factory fitted by the manufacturer, however it is also possible to have an immobiliser fitted by a garage or specialist who would supply a certificate of installation, detailing the exact model of immobiliser.
Indemnity:
This ensures that following a claim you are restored to the same financial position that you were in immediately before the insured loss. Account is taken for age, wear and tear and depreciation.
Inexperienced driver:
A person who has not held a full United Kingdom or European driving licence for the last 12 months.
Insurer:
An organisation which issues an Insurance Policy in exchange for a premium and pays any eligible claims arising.
Insurance Schedule:
The document that describes details of the cover you have and information that you have supplied to your insurer.
Insured:
The person who is, or whose vehicle is, insured. Also known as the Policyholderor Proposer.
Legal Liability:
The obligation to recompense others because of your negligence.
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Market Value:
For motor insurance, the cost of replacing a car or motorbike with one of similar make, model and condition at the time of the loss or damage.
Medical Examiner's Report (MER):
A report by a doctor, given at the request of the Insurer. The cost is usually paid by the Insurer.
Terms, conditions, exclusions and excesses apply. Please refer to relevant policy wording for full details.
Modification:
Alterations to a vehicle which affect either its appearance and/or performance.
Motoring Convictions:
Offences such as speeding which are detailed on your driving licence. You will need to notify Swinton of any motoring convictions in the last 5 years, even though these may have been removed form your licence.
Motor Insurance Groups:
Cars are usually rated by insurance companies on a scale of 1 to 20; 20 being the highest. This relates to a group of factors including the vehicle's performance, cost of replacement parts and the cars desirability to thieves.
Negligence:
The legal definition of negligence is the failure to exercise the care towards others which a reasonable or prudent person would do in the circumstances, or taking action which such a reasonable person would not.
No Claims Bonus:
A discount offered as a reward for you not making a claim on your insurance for a number of years.
Parallel import:
Vehicles imported from abroad and sold within the UK by the manufacturer, but usually at a higher price than a standard model. See also Grey Import.
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Personal Liability:
see Legal Liability
Policy:
The document which details what is covered and outlines the circumstances under which a claim will be paid and the Conditions governing any payment. A policy is a contract which is binding on both the customer and the Insurer.
Policyholder:
see Insured.
Premium:
The amount you will need to pay to an Insurer to be covered by the insurance.
Proposer:
See Insured.
Protected No-Claims Bonus:
If you have 4 or more years no claims bonus, you may be able to pay an extra amount, so you may not necessarily lose your no claims bonus if you make a claim. You can usually make two claims before your bonus is affected.
Terms, conditions, exclusions and excesses apply. Please refer to relevant policy wording for full details.
Responsible Party:
This is a term used to describe the person who is responsible for causing any losses or damage.
Schedule:
The document that describes details of the cover you have and information that you have supplied to your insurer.
Swinton:
A UK insurance intermediary who searches leading insurers to get you a great deal. The paperwork sent out to you will show the name of the insurer with whom we have arranged your insurance.
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Third Party Only Cover:
The minimum level of insurance cover for a car or motorbike which is required by law. Third Party only covers your liability for death or bodily injury to anyone else and your liability for damage to someone else's property. It does not cover any damage to your vehicle. Terms, conditions, exclusions and excesses apply. Please refer to relevant policy wording for full details.
Third Party, Fire & Theft:
In addition to the cover provided by Third Party Only Cover insurance, this also pays you compensation if your vehicle is stolen or destroyed by fire (subject to Policy terms).
Terms, conditions, exclusions and excesses apply. Please refer to relevant policy wording for full details.
Voluntary Excess:
An additional amount you may wish to pay in the event of a claim above any compulsory excess insisted upon by the Insurer. You can decide this sum at the point you take out a policy. Doing this will usually help to lower your Premium.
You:
See Insured