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General Car Insurance |
The Insurance Boffin’s Insurance Urban Myths Uncovered!You may be an experienced driver and are comfortable with the intricacies of how insurance works or a bloke down the pub told you a loophole to get cheap insurance, but insurance companies are increasingly savvy to these ‘tricks of the trade’ and things have changed you may not be aware of. Let us look at the top insurance urban myths…
1) If I have a comprehensive policy, I can drive any vehicle on a third party only basis. Wrong! This was included as virtually standard a few years ago, but due to persistent abuse has been removed by insurers on a case-by-case basis. Check your policy closely as it is likely you do not have this level of protection. If caught driving without insurance you could face 6 points on your licence and any claim you make invalidated.
2) Insuring my son’s car in my name will save money. Insurers are now very wary of this type of practice, as sheltering behind an older driver is known as ‘fronting’ and if you are found out can invalidate your insurance Insurers also rate the insurance premium on the age of the youngest driver, so is unlikely to be any cheaper.
3) If an accident wasn’t my fault, I won’t have to pay the excess. The excess will always have to be paid after the accident. Where it is not your fault, the insurer will try to claim it back from the third party.
4) There is an unlimited amount I can claim for if possessions are stolen from my car. All insurance policies will have an upper limit for personal effects stolen of around £150. Check if your current limit is sufficient, particularly if you have expensive aftermarket goods, such as sat-navs.
5) I don’t need to disclose minor motoring convictions. Although one speeding conviction is unlikely to increase your premium, failure to inform your insurer could invalidate your policy.
6) Small cosmetic modifications such as tinted glass and alloy wheels won’t affect my policy. You should inform your insurer of all modifications, failure to do so could render your policy void.
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The Insurance Boffin E-mail: info@insuranceboffin.com Disclaimer: Any information, advert or link contained on this site does not amount to advice, suggestion or a recommendation in any manner or form. |
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The Insurance Boffin |
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