About Us |
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We work with the UK's top insurance companies to provide
replacement vehicles after accidents making sure innocent
parties stay mobile until their own vehicles are repaired or a
cheque is received in the cases where their vehicle is written
off. |
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Learn more |
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Glossary of Terms |
We all use abbreviations etc, the world of insurance is
no different, it’s complicated enough, so to help you understand
some of the terms you may come across here is our guide.
• Approved Repairer
Most insurance companies use approved repairers for all their
insurance claims. The benefits this gives insurers is that they
can drive the cost of repairs down by directing large volumes of
work to a limited number of body repair shops often by allowing
the body repairer to only recover a set hourly rate on the parts that it supplies.
Your priorities are often at odds with an insurer in that you
want your car repaired to the standard determined by the
manufacturer so as not to threaten the residual value when you
come to sell it. You have the absolute choice as to who you
select to repair your damaged vehicle irrespective of who
insurers your car. If you are concerned about the quality of
repair it falls to the insurer to negotiate separately with the
repairer to agree the repair cost.
• Beyond Economical Repair
This means that it is not financially viable to repair your
vehicle
• Courtesy Car
This is a free car provided by the repairing garage. It is
usually an A group car such as a Nissan Micra or Ford Ka. Many
people believe they have an automatic entitlement to a courtesy
car following an accident but they do not unless they have paid
an additional premium when they took out their insurance policy.
Even then, the car may only be provided if you use the insurer
approved repair shop and then only for a limited period of time.
If you are offered a courtesy car and it is not sufficient for
your needs – too small, under powered or not acceptable – then
you are not obliged to accept it.
• Credit Hire Agreement
This agreement states that you accept that you are ultimately
responsible for the cost of the replacement vehicle. The
agreement allows you a period of credit for the charges of up to
11 months.
• Driver and Vehicle Licensing Agency
The Driver and Vehicle Licensing Agency is an Executive Agency
of the Department for Transport (DfT) Their primary aims are to
facilitate road safety and general law enforcement by
maintaining registers of drivers and vehicles and to collect
vehicle excise duty (car tax).
• Estimate
An accident repair centre will provide an estimate after they
have assessed the damage to the vehicle. The estimate will show
the price of the labour and sundries. You will only need to
request an estimate if you are insured Third Party Fire and
Theft or if you have chosen to use a non-approved repairer.
• Motor Insurance Bureau
This is a body which the government in every European country
has to establish and it is funded by all UK insurers as an
insurer of last resort. If you are involved in an accident where
the third party is not insured then the Motor Insurance Bureau
becomes their adopted insurer and the people who will settle
claims for damages through the negligence of that uninsured
third party driver.
• Policy Excess
When you take out your insurance cover you will have agreed to
pay a policy excess amount as a contribution to settling your
claim. The reason for insurers wanting a contribution towards
the cost of repairs is to prevent people from claiming for minor
damage such as broken wing mirror etc.
• Pre-Accident Value
This is a figure which represents what a car was worth before it
was involved in an accident. If the potential repair cost is
more than 50% of the pre-accident value then your car will
probably be deemed beyond economical repair. If you are unsure
of your vehicles value check Glasses car guide which all
insurance companies and vehicle related companies use.
• Third Party
This term refers to anyone affected by an accident, other than
you. It can include drivers and passengers of other cars, or
owners of property (for example if you hit a wall).
• Third Party Insurer
The third party insurer is the insurance company that has
insured the person responsible for causing the motor accident.
• Third Party Fire & Theft (TPF&T)
If you cause an accident, Third Party Insurance (the minimum
required by law) ensures that any other party involved in the
accident are protected from loss through your negligence. Any
costs to your own car are not covered but, if you have Fire &
Theft insurance then you're covered if someone steals your car
or if it's damaged by fire. If you have TPF&T your own insurer
will never pay to repair the damage to your vehicle if you are
involved in an accident.
• Total Loss
This means that it is not financially viable to repair your
vehicle.
• Uninsured Loss Recovery
When you have been involved in a non-fault accident you may have
incurred other losses other than damage to your vehicle. For
example your policy excess, vehicle recovery/ storage costs,
loss of earnings, compensation for injury or death.
• Write Off
This means that it is not financially viable to repair your
vehicle.
For more information on the service we can provide a brochure
or contact us info@mphassist.co.uk or Tel
01204 659 191.
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