4WD and 4x4 Insurance (Advice) - Page 1
There are 3 basic types of insurance policy:
Excess: The amount you agree to pay yourself in the event of an insurance claim.
Brokers: They find suitable 4x4 insurance companies on your behalf. They are not always more expensive than dealing with insurance companies directly and they can often cater better for specific 4x4 insurance requirements.
No-Claims Bonus: This is the discount on your
premium that an insurance company gives you when you drive without making
a claim. Sometimes it's possible to pay extra to protect your bonus
in the event of a claim.
Agreed Value: If your vehicle has special features it may be worth more than the normal market value that the insurance company would normally pay out in the event of a claim. In this event some insurance companies will agree to pay a certain agreed minimum amount if the vehicle is considered a write-off.
Limited Mileage: Some insurance companies may reduce your premium payments according to what mileage you agree not to exceed during the 12 months of the policy.