Searching for cheap and fair insurance can seem like a constant uphill struggle, a seemingly simple process hindered by the stringent expectations of the insurers themselves.
Impounded Car insurance is arguably one of the hardest to deal with, a whole list of issues present when concerning who you should go with or what you should be looking for. Let us bust some of the myths of impounded car insurance and help make an overly difficult procedure easier.
It seems natural to believe that the less time you’re on the road, the less likely you are to find yourself in an accident, meaning your cover will reflect this and be cheaper. Sadly, the opposite is often true for many insurers, their argument being that someone not attuned to current driving conditions over great distances is actually a greater risk on the road. It also appears logical that an insurer would be happier to insure a car regularly parked in a garage. In fact, many insurers believe that cars are less likely to be damaged if they’re left outside, rather than moved in and out of a garage on a regular basis.
As for voluntary excess, it’s traditionally believed that the higher an excess, the lower you should expect your premium to be. Although this is true in some circumstances, a higher excess taking some risk away from the insurer, many young drivers who are considered a greater risk will have their excess ignored as a mere fraction of a possible payout that you’re supposedly at high risk of causing. The price of your car is also an odd one; the more expensive the car, the more expensive the cover right? Wrong. For one, older cars are less secure than many newer models. Also, the insurer knows how much your car is worth. There’s no real difference in premium for cars anywhere between £1000-£10,000, but if you state a £5000 car has a value of £10,000, the insurer could see you as a greater risk and assume your car has been in some way modified.
Finally, let’s consider speeding. A single SP30 will not influence your cover cost at all, but more than one might mean a payment to the insurer for being a recidivist. Apart from your initial cover cost, the only way you can influence this is by being a smart and considerate driver.
