Glossary of Terms
- Insurer
- Your insurance company.
- I.P.T.
- Insurance Premium Tax, compulsory tax levied by the government on all insurance premiums.
- Licence
- The type of driving licence you currently hold.
- Legal Protection
- Additional protection covering legal costs from unfortunate bike, scooter, moped accidents.
- Modification
- Any modification, engine, performance or cosmetic that has been carried out to your vehicle.
- No Claims Bonus
- Proven no claims bonus.
- Postcode
- The postcode of where you will be keeping your car, bike, scooter, moped.
- Premium
- The amount you pay for your insurance.
- Policyholder
- The person who has taken out the insurance.
- Protected No Claims
- When you have a certain amount of no claims discount (ncd) you can ask to have it protected stopping you from losing it if you were to make a claim on your bike.
- Quote
- Before you can take out a policy you will need to obtain a quote from an insurance broker.
- Riders
- Named person or people who will be riding your bike or scooter.
- Renewal
- When your policy is about to lapse you will be given the option to renew your bike, scooter, moped policy.
- Scooters
- Scooters are a two-wheeled motorized vehicle with a step-through frame.
- Third Party Fire & Theft insurance
- This covers claims made by other people against you and if your vehicle is stolen or damaged by fire.
- Third Party Only Insurance
- This covers claims made by other people against you.
- Bike
- Your motorcycle, scooter, moped.
- Breakdown Cover
- Additional protection which assists you should your bike, scooter, moped break down.
- Capacity
- Cubic Capacity or CC of your car, bike, scooter.
- CBT
- For bike and scooters only, Compulsory Basic Training.
- Comprehensive Insurance
- This covers claims made by other people against you. This also covers your vehicle if stolen or damaged by fire, accidental damage or malicious damage.
- Convictions
- Driving convictions or convictions pending, e.g. SP30, DR10, IN10.
- Cover
- The level of insurance cover you have purchased.
- Chinese Bikes
- Term used to describe imported vehicles which may not be on every insurance company's bike, scooter, moped lists.
- Change of Bike Quotation
- If you wanted to change your bike policy to a different vehicle you would require a change of vehicle quotation.
- Cancellations
- If you would like to cancel your scooter policy.
- Claims
- If you were to have a scooter accident you would need to make a claim.
- Drivers
- Named person or people who will drive your bike.
- Dealers
- Businesses who sell bikes, scooters, mopeds.
- Engine Size
- Cubic Capacity or CC of your car, bike, scooter, van or taxi.
- Excess
- The amount you pay in the event of a claim.
- FSA
- Financial Services Authority.
