There's really no doubt that life is expensive! Consequently most individuals will research options and rates until they find a cheap insurance quote to satisfy their needs and requirements.
When it comes to motor insurance, I am sure that the thought of a "warranty" on the insurance policy is enough to confuse a lot of individuals! Normally a warranty is there to protect the buyer of the product or the service, but in the case of car insurance, a warranty protects the vendor (the insurance company).
When you invest in a new car, it generally comes with a service plan or maintenance plan and some form of manufacturer's warranty. This warranty will likely be valid for a certain period of time and will cover the costs of repairing certain items which are not covered under the standard service or maintenance plans. For instance, if your clutch needs to be repaired after 12 months and it can be established that it is not as a consequence of driver error or negligence, this will not be covered by the maintenance plan, but by the warranty.
On the subject of insurance coverage though, the warranty protects the insurance service provider. This warranty is a promise from the buyer's side to adhere to a particular condition as set out in the insurance agreement.
A promissory warranty is something that the insured party is instructed to do (or not to do). An insurance company can supply a client with a cheap insurance quote on the condition that the client fits a tracking device in his/her vehicle. The client then promises to do this, therefore the term promissory warranty. When the client fails to keep this promise, the insurance firm is able to stop the insurance agreement straight away.
A different type of a warranty is an affirmative warranty. At the bottom of each insurance contract you will have to say that you agree with the conditions as set out in the insurance document and that all the details that you have provided is 100% correct.
Prior to getting too enthusiastic about the cheap insurance quote you have received, make certain that you are fully mindful of all the conditions and terms associated with this policy.
When it comes to motor insurance, I am sure that the thought of a "warranty" on the insurance policy is enough to confuse a lot of individuals! Normally a warranty is there to protect the buyer of the product or the service, but in the case of car insurance, a warranty protects the vendor (the insurance company).
When you invest in a new car, it generally comes with a service plan or maintenance plan and some form of manufacturer's warranty. This warranty will likely be valid for a certain period of time and will cover the costs of repairing certain items which are not covered under the standard service or maintenance plans. For instance, if your clutch needs to be repaired after 12 months and it can be established that it is not as a consequence of driver error or negligence, this will not be covered by the maintenance plan, but by the warranty.
On the subject of insurance coverage though, the warranty protects the insurance service provider. This warranty is a promise from the buyer's side to adhere to a particular condition as set out in the insurance agreement.
A promissory warranty is something that the insured party is instructed to do (or not to do). An insurance company can supply a client with a cheap insurance quote on the condition that the client fits a tracking device in his/her vehicle. The client then promises to do this, therefore the term promissory warranty. When the client fails to keep this promise, the insurance firm is able to stop the insurance agreement straight away.
A different type of a warranty is an affirmative warranty. At the bottom of each insurance contract you will have to say that you agree with the conditions as set out in the insurance document and that all the details that you have provided is 100% correct.
Prior to getting too enthusiastic about the cheap insurance quote you have received, make certain that you are fully mindful of all the conditions and terms associated with this policy.
