Tell the truth when applying for your motor insurance

When it comes to motor insurance, we all want the best deal. A recent survey of 2,000 motorists carried out on behalf of the ABI showed that the top complaint was the cost of motoring, of which insurance forms a major part.

There are right and wrong ways to keep your motor insurance costs down. The right way is to shop around, comparing prices and, importantly, levels of cover. Motor insurance is very competitive so searching online, maybe through one of the many comparison web sites, or using a local insurance broker, will help you to get the right policy at the best possible price.

The wrong way is to hide or distort important information, such as motoring convictions and penalty points on your driving license, to get cheaper cover. In our survey, three-quarters of respondents backed insurers getting tougher on motorists who conceal important information, as they realise that honest motorists end up paying for the cheats through higher insurance premiums.

This is why insurance companies are currently talking to the Government on how they might be able to access the driving licence records of motorists when they buy insurance, to double check that there are no motoring offences, such as speeding convictions, that might be relevant.

Failure to fully disclose can have serious consequences. You could find that your insurance cover is not valid when you come to make a claim, leaving you with, potentially, a very expensive bill if you’re involved in an accident, or if your car is stolen. So be honest – doing otherwise could cost you dear.

Tags: abi, association of british insurers, insurance - car