Glossary

M

Material Fact
Material fact is information at is integral to rating an insurance policy. This can be about age, accidents/convictions, or the car that is to be insured.

Mechanical Breakdown Insurance
This cover protects against the cost of breakdowns of household appliances or motor vehicles.

Motor Insurance
This insurance covers legal liabilities arising from the use of a motor vehicle. Comprehensive policies also cover damage to the vehicle. The minimum legal cover in the UK is third party insurance.

Mutual
An insurance company that is owned by its policy holders.