Car Insurance -
How Not To Cut Your Car Insurance Premium
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Car insurance premiums are increasingly shooting up, like other costs of maintaining a car, including fuelling. Desperate to keep premiums as low as possible drivers could device even tactics that are clearly unapproved of. This may help bring down cost but could in the long run affect the entire car insurance policy, or even invalidate it.
Imagine someone living in Islington, in the North of London, and paying as much as £745 on the average on car insurance premium, while someone who lives in South London pays much less. Imagine paying more because you added modifications like alloy wheels, spoilers or tinted windows, pushing your premium by up to 139 per cent or £545 a year. Visualize yourself as a young male driver, and even without any motoring conviction, but you have to pay more just because of your age and gender or because your job is considered a risky one and you are penalised based on that.
You may as well choose not to be penalised in this way by refusing to disclose certain basic information while purchasing your car insurance. This could earn you a cheaper premium only for as long as you are not found out. You could lie about your postcode, or your age or even sex by giving your friend, relative or partner’s details to your insurer. Your premium may pretty well drop down compared with what your real self, who actually has the other details you failed to make known to your insurer, would normally pay. But for how long can you disguise this and get away with it and will it, in the end, still be a wise economy?
Gocompare.com, in a recent press statement, called the tactic whereby drivers give false information to beat down premium a false economy. It said further that this could lead to the invalidation of one’s insurance policy.
There are a number of things you could do to be found wanting by your insurer. These include refusing to disclose material fact like driving convictions, providing false information, including what is called fronting or failing to identify the true main driver, not telling the truth about your postcode or the address where the car is kept. You could also go wrong if you fail to notify your insurer when you change address or occupation. Or by using your car for activities not disclosed to your insurer or those not covered by the policy you could very well help render your car insurance null and void.
In addition modifications must be brought to the insurer’s attention, which could mean giving out more on premium. Yet you may not go wrong too far if you let them know and subject yourself to the right scrutiny and corresponding charges.
If I were you I wouldn’t bother too much about adding too many modifications unless I am sure I can afford to pay. After all why should I add a burden that I’m sure I won’t be able to shoulder to what I’ am already carrying? Well, people have their needs and priorities. Yet deciding on these with moderation could save one a lot of trouble.
You may still be able to get a good deal if you take warning and shop around for the best available insurance policies, Hayley Parsons, Gocompare’s managing director advised last week. When renewing policy you don’t have to accept the same old quote with your insurer, as there could be better ones.
So all you need to do is shop around for the best policy, avoid convictions by driving carefully and take good care of your car. Keeping to these tips, as suggested by Gocompare.com, could save you a lot more money than disguising information.
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