Glossary: M to Z
View: A to L
Main Driver
The person who uses the vehicle the most.
Named Driver
A driver who has been named on a policy but who does not own the vehicle.
No Claims Bonus
A no claims bonus (NCB) is the discount that you have earned on a previous insurance policy.
Optional Extras
Other products available in addition to your car insurance. I.e. breakdown cover, windscreen cover.
Owner
The legal owner of a vehicle. The legal owner may not be the person to maintain or drive it. It may well be driven by a named driver.
Premium
The single or regular payment made to the insurer in respect of a policy.
Quote
An amount an insurer estimates to be the cost of providing a service based on the available information.
Renewal
An agreement to continue cover beyond any original term.
Third party
Basic motor insurance cover. Third Party covers damage to others' cars but not to your own. It is also the cheapest form of policy.
Third Party, Fire and Theft
Third party, fire and theft provides additional insurance against fire or theft above what is provided by third party only.
Total Loss
If your insurance company decides it is uneconomical to repair your car following an accident, theft or damage, it will be 'written off' as a total loss.
