Motorists warned about registering wrong address for car insurance premiums

QMT Websites Latest, Motor Trade News Leave a Comment

Checking the finer details of a motor trade insurance policy is crucial after UK motorists were warned on Monday that submitting the wrong address on their car insurance premiums can actually invalidate the whole policy and leave them without the appropriate cover when out on the road.

The costs of car insurance premiums are dependent on postcodes and can often differ wildly, even when they are only a few miles apart. This is due to factors such as crime rates as certain areas have more break ins and incidents of theft, and the types of properties that reside in areas. Both of these can lead to higher premium costs.

While putting down the wrong address is often an honest mistake, it can lead to motor trade insurance being invalidated. Motorists have therefore been told to make sure they fill out forms correctly when registering their cars and applying for car insurance in order to prevent any nasty surprises at a later date. Motorists should also keep insurers updated if they decide to move to a new address in the future.

“Failing to notify your insurer of changes to circumstances, including address, could actually result in you being refused when claiming on your insurance. This is due to car insurance premiums fluctuating depending on area,” Matt Oliver, a spokesperson for a leading car insurance comparison site said. “Certain postcodes will be more expensive than others, due to factors like crime rate, risk of accident and how built up they are, so it’s essential you are keeping your insurer up to date, as you could be invalidating your insurance.”

Address information is validated by car insurers on a regular basis as third parties often have departments to investigate the matter, so it is very unlikely that anyone hoping to pay less will actually get away with putting in a fake address or postcode in the long term. Motorists have been warned that this course of action is certainly not worth the risk.

Students who move to university should also make sure their address details are up to date before relocating as this is often a common oversight among young people when managing their motor trade insurance policies. For those moving a short distance, the costs of premiums can often go up or down. For example, a person moving from one area of Newport, Wales to another in the same city can pay almost £60 more even though they are only around six miles away. In contrast, a student moving to University halls in Bristol could pay almost £200 less.

Oliver added: “Another thing for people to bear in mind is a change in address could result in a change of parking for your car. It’s likely the details you gave when taking out your policy have changed slightly. If you’re used to parking on a street, say, but will now be parking on a drive, there’s a good chance you’re premium will go down.”




Previous Post Next Post

Leave a Reply

Your email address will not be published.