Motorists can save hundreds of pounds on their annual car insurance bills by changing one crucial detail, according to experts. Specialists at Quotezone have warned that cutting down mileage is one of the easiest ways to slash bills, with road users likely to save hundreds of pounds every year.
Higher mileage usually leads to higher premiums because spending more time on the road is considered to be a higher risk. The more miles someone travels, the more likely they are to get involved in an accident and therefore claim on their car insurance policy.
It means motorists who aren’t travelling as much as they first thought could make major savings by reducing their annual allowance.
Quotezone said: “Driving habits and your circumstances can change over time, so it’s important to regularly review your policy and let your insurer know of any changes to ensure you are in the correct mileage band, especially if you’re driving much less miles than you initially covered yourself for.
“Motorists clocking up fewer than 1,000 miles a year pay an average of £520, while those who exceed 30,000 miles face average costs of £800.”
Circumstances can change which can dramatically alter how far an individual is likely to travel in one calendar year. For example, motorists commuting to the office every day may get a new role that requires fewer in-person hours, altering the annual mileage dramatically.
Many individuals will forget to update their insurance policy and therefore end up paying more than they need to. However, motorists have been warned they can only contact insurers to reduce mileage if they have genuinely cut down how much they travel.
Lying to an insurance firm with the intention of exceeding the declared mileage is a major issue and can lead to policies being immediately invalidated.
Experts at Cuvva previously said: “Car policies will only cover you for the annual mileage estimate you gave. Any journeys outside of this are (technically) not insured.
“Sometimes, that means you won't get a payout at all if you claim after going over your mileage. Other times it will mean you can't claim as much as you thought.”