My Quote - Motor Insurance

Who Are My Quote?

MyQuote.co.uk. is an independent marketing organisation, part of the Emailbureau Limited group of companies, which is dedicated to providing you with insurance products at the time you need them.

To provide My Quote services to you, MyQuote.co.uk uses the staff and resources of masterquote.co.uk who are dedicated to providing high levels of service to meet your general insurance needs. The masterquote.co.uk team, has developed a range of insurance products which provide unrivalled quality and choice in the UK insurancre market. MyQuote.co.uk policies are sourced and arranged by BDML Connect Limited, an independent intermediary operating under the Association of British Insurers Code of Practice for the Selling of General Insurance.

My Quote are constantly looking for ways in which they can improve your security and peace of mind. New products to protect you and your loved ones will soon be available including private medical insurance and pet insurance. When developing new products My Quote professionals work closely with major insurance partners which have a reputation for quality service and innovative solutions. Insurers on the masterquote.co.uk panel include well known names such as Norwich Union, CGU, Royal Sun Alliance, Groupama, Axa, Cornhill, Legal and General and other quality companies.

My Quote aim to provide you with the best possible service and so their sales and service phone lines are open from 8am to 8pm Monday to Friday and 9am to 5pm on Saturday. If you wish to contact My Quote by e-mail then for sales enquiries contact [email protected]. For customer service such as change of address, changes of drivers or sums insured, contact [email protected].

My Quote Car Insurance Policy Benefits

myquote.co.uk car insurance policies provide the high level of cover you would expect from one of the leading insurance providers in the UK:

My Quote - Motor Insurance Explained

What's it all about?
Car insurance is one of the rare types of insurance that is compulsory to drive on the road you must have an insurance policy.

Why?
Because if you injure someone or cause damage to someones property when you are driving, the law demands that you be in a position to compensate the other person the law can be sure you will be able to do this by making you take out insurance.

The minimum type of insurance the law requires is called Third Party Only. While it is cheapest, most people will want to add Fire & Theft cover also because it only costs a little more. Comprehensive policies also cover damage to your own car.

How do insurance companies work?
Insurance companies collect premiums from many policyholders so that they can pay out on those which have a claim. The size of claims vary from around £100 for a windscreen to hundreds of pounds for a small dent right up to literally millions of pounds for serious injuries payouts of over a million for people who have been severely disabled are becoming increasingly common.

Why has my premium gone up?
Insurance premiums have been rising for the last year or so because insurance companies are losing money on car insurance. They underestimated how much they would be paying out in claims and so are having to put premiums up to cover what they think the future cost of claims is likely to be. It is not easy for insurers to estimate how much premium they will need to cover claims because the premiums are set now for claims they will be paying out over the next seven years or so this is how long it takes serious injury cases to get to court. The size of injury awards in seven years' time is very unpredictable especially if the law changes during that time.

In addition to collecting premiums, insurance companies make money from investments. They invest the share of the premium left after paying the expenses of running the business and their marketing cost. Over the past four years most insurance companies have lost money on car insurance even after adding back investment income.

Are direct companies cheaper?
While direct companies do not have to pay commissions to middlemen they do have significant marketing expenses. Companies who only take insurance policies through middlemen will not have to advertise on television or in the national press both of these are very expensive. A middleman can offer quotes on a broader selection of risks and often find the most competitive price.

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