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Motor Insurance (M94)

The objective of this unit is to develop knowledge and understanding of the fundamental principles and practices of motor insurance practice, including the different types of motor risk and the compulsory insurance requirements.

The default Enrolment option for this unit includes:

  • Latest version of the core learning content, in digital format only.
  • Assessment entry.

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Motor Insurance (M94) provides an understanding of the risks faced by the various types of motor vehicles and the legal requirements associated with motor insurance. It includes relevant case law and an overview of the different types of motor insurance products available from the general insurance market in the UK.

The study text considers the nature of motor risk and the scope of cover provided by motor policies. It looks at the main practices of motor insurance, underwriting and the claims considerations and procedures.

Key legislation governing motor insurance, the Road Traffic Act (RTA), is also examined and the impact of European legislation on UK laws and the provision of motor insurance. The role of the Motor Insurers' Bureau (MIB) in tackling uninsured and untraced drivers is covered including the levels of protection offered.

Building a successful career in insurance

This course is ideal for anyone seeking to gain knowledge and understanding of motor insurance and how this competitive insurance market operates. This subject is also relevant for anyone involved in the insurance profession or a service provision capacity.

Motor Insurance (M94) counts towards a Diploma in Insurance. It may also count towards the Advanced Diploma in Insurance.

Please note it is assumed that you already have knowledge of the fundamental principles of insurance as covered in Insurance, Legal and Regulatory (IF1) or equivalent examinations.

Summary of learning outcomes 

  1. Understand the nature of motor risk and the main factors that impact on it.
  2. Understand the scope of cover provided by motor policies.
  3. Understand the main practices of motor insurance.
  4. Understand risk perception, evaluation and underwriting of motor insurance.
  5. Understand the claims considerations and procedures of motor insurance.

Assessment

  • Coursework assignment with 10 compulsory short answer questions; and a 1 hour exam comprising 50 multiple-choice questions (MCQs)
  • 60% coursework nominal pass mark
  • 65% exam nominal pass mark
  • The average pass rate for those completing Diploma in Insurance mixed assessment units in full is currently 91.2%

Study material - editions available

2021-22 edition (applicable to exams sat 01 May 2021 to 30 Apr 2022).