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Car Insurance - Predicted Annual Mileage
dosh37
Posts: 405 Forumite
This has probably been asked before but...
It’s time to renew my car insurance so I’ve been getting a few online quotes. Most companies ask for an expected annual mileage. Entering a few different numbers result in quotes that vary quite considerably.
In the past when I was commuting a fairly long distance to the same place of work, annual mileage was easy to estimate. Now I’ve semi-retired, this is harder to predict. It’s also not obvious if I should insure for Social,Domestic,Pleasure only or Social,Domestic,Pleasure + Commuting.
Some people think you should inform the insurance company if you exceed your declared expected mileage. Presumably you will then have to make an additional payment plus an admin fee. If that is the case then it is unfairly biased in favour of the insurance company. After all, if a customer does lower than the expected mileage, they do not get a refund.
It seems a very grey area. I was wondering what legal situation is? Is it down to the individual insurance company? I can’t find anything in the policy small print.
It’s time to renew my car insurance so I’ve been getting a few online quotes. Most companies ask for an expected annual mileage. Entering a few different numbers result in quotes that vary quite considerably.
In the past when I was commuting a fairly long distance to the same place of work, annual mileage was easy to estimate. Now I’ve semi-retired, this is harder to predict. It’s also not obvious if I should insure for Social,Domestic,Pleasure only or Social,Domestic,Pleasure + Commuting.
Some people think you should inform the insurance company if you exceed your declared expected mileage. Presumably you will then have to make an additional payment plus an admin fee. If that is the case then it is unfairly biased in favour of the insurance company. After all, if a customer does lower than the expected mileage, they do not get a refund.
It seems a very grey area. I was wondering what legal situation is? Is it down to the individual insurance company? I can’t find anything in the policy small print.
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Comments
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always wondered about this, My insurance company have no idea of the mileage that's on my car, So how would they ever know if I exceeded the mileage I tell them?0
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glentoran99 wrote: »always wondered about this, My insurance company have no idea of the mileage that's on my car, So how would they ever know if I exceeded the mileage I tell them?
I suspect if there was a dispute, the insurance company would use the mileage written on the annual MOT certificate (assuming the car needs one).0 -
I suspect if there was a dispute, the insurance company would use the mileage written on the annual MOT certificate (assuming the car needs one).
Nope car is only 3 years old so hasn't been MOT'd yet
and even if it has, Those extra miles could easily be my wife driving under her own policy0 -
The lack of response suggests either apathy or a willingness to bend over and get screwed by the insurance companies. What's the point of a so called consumer forum that has no effect?0
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Your policy should set out what to do regarding notifying any under/over estimate. (If not ask the insurer)
(The mileage you estimate has to include all drivers!)0 -
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Nope car is only 3 years old so hasn't been MOT'd yet
So, they can average the current mileage over the time you have had the car.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
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hey don't know the current mileage though
They would if there was an accident.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
This discussion has been closed.
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