MyFinances.co.uk
News feeds Free newsletter

All the latest personal finance news - helping you make the most of your money

Insurance glossary

  • Accident insurance

    Accident insurance is a financial product which, in return for a regular payment, protects policyholders against the financial impact of having an injury and needing to take time off work to recover.More...

  • Act of God

    An act of god is an unpredictable and unpreventable event which is not caused by human actions.More...

  • Breakdown cover

    Breakdown cover provides car owners with assistance in the event of their car breaking down, with a mechanic either attempting to fix the car at the roadside or taking it to a garage.More...

  • Buildings insurance

    Buildings insurance is a policy taken out by a homeowner to cover the cost of rebuilding or repairing their property in the event that it is damaged.More...

  • Car insurance

    Car insurance is a policy that protects the car owner and other road users from monetary loss if their vehicles are damaged.More...

  • Cheap insurance

    People looking for cheap insurance need to consider how to get better value for the amount they pay.More...

  • Commercial van insurance

    Commercial van insurance is insurance that covers vans owned by companies rather than individuals.More...

  • Critical Illness Cover

    Critical illness cover is a financial product that, in return for a regular payment, pays out money if the policyholder contracts one of the illnesses the policy specifically covers.More...

  • Dental insurance

    Dental insurance is a type of health insurance designed to pay for the cost of dental care.More...

  • Double Indemnity

    Double Indemnity is a clause on many accident insurance and life insurance polices that offers twice the normal pay out if death is accidental.More...

  • Driving ban assistance

    Driving ban assistance is a product that will cover the cost of travel for people issued with a driving ban.More...

  • Due Care/Reasonable care

    Most insurance policies contain a clause specifying that the insured must exhibit ‘due care’ or ‘reasonable care’ or they will not pay out.More...

  • Excess

    The excess is the amount a policyholder will have to pay as a result of making a claim on an insurance policy.More...

  • Friendly Society

    A friendly society, sometimes referred to as a mutual society, is a financial organisation owned by its members and not shareholders.More...

  • Grace Period (car insurance)

    Until recently drivers had 14-days grace between their current car insurance policy running out and when they were required by law to have a new one.More...

  • Home and Contents Insurance

    Home and contents insurance is a financial product, which in return for a regular payment, pays out compensation if the policy holder's possessions are damaged, lost, stolen, or otherwise damaged.More...

  • Income Protection Insurance

    Income protection insurance is a financial product that, in return for a regular payment, will cover a policyholder's financial commitments if they are prevented from earning.More...

  • Insurance Premium

    An insurance premium is a payment made to a company in return for financial protection for a given period of time.More...

  • Life insurance explained

    Life insurance is a financial product that, in return for contributing a regular payment, will pay out a large sum if you die.More...

  • Mobile Phone Insurance

    Mobile phone insurance offers financial protection against the risk that the policyholder's mobile phone is lost, damaged, or stolen.More...

  • Mortgage insurance

    There are a series of insurance products that go with mortgages.More...

  • Motorbike insurance

    Motorbike insurance is a legal requirement for people riding a motorbike in the UK.More...

  • No-claims bonus

    A no-claims bonus is a reduction in the cost of an insurance policy granted to the policy holder for not making a claim in the previous period of cover (typically one or more years).More...

  • Payment protection insurance

    Payment protection insurance provides cover for people taking on debt in case their circumstances change and they are unable to meet repayment requirements.More...

  • Pet Insurance

    Pet insurance is a financial product that, in return for a regular payment, pays out money to cover specific costs incurred by a pet.More...

  • Private Health Insurance

    Private health insurance, or medical insurance, is a financial product that - in return for a regular payment - pays out for private medical expenses or treatments up to a certain amount.More...

  • Tesco Compare adds four new car insurers

    Tesco Compare.More...

  • Travel insurance

    Travel insurance provides monetary cover for holidaymakers and other travellers so, if something goes wrong while overseas, they do not lose out financially.More...

  • Wedding insurance

    More...

Disclaimer:
myfinances.co.uk is not authorised to give advice under the Financial Services and Markets Act 2000.

Terms:
By using this site, you are deemed to have accepted our terms of use.

About Us | Advertise | Contact Us | Privacy
© 2004 - 2008 www.myfinances.co.uk

myfinances poll 

Are rising prices biting you? myfinances.co.uk is running a poll to get your views on the level of inflation in the British economy.