Having a car comes with many responsibilities, and to be road-ready you need to have new driver car insurance. Once you’ve signed up to an insurance provider though that doesn’t mean you can forget about it until you need to renew your policy.
There are many reasons why you have to keep your insurance company up to date with any changes to your details.
Here are just a few:
Change of address
Your insurance premium is based on many factors, one of which is your address. That’s why it is essential you inform your provider if you move home, including when you go off to university.
While you might not think of your uni digs as your permanent address, if you are keeping your car there, your insurance company needs to know. If the location is prone to car thefts or vandalism, is in a city, or doesn’t have off-street parking this will impact how likely your vehicle is to be stolen or damaged – and therefore, how much your policy should cost.
Either way, by not telling your insurance provider, you will encounter problems if and when you come to claim on your policy.
Becoming a commuter
You might relish the idea of being able to drive your car to uni or work every day instead of taking public transport. But if you do, make sure you tell your insurance provider first.
Commuting to work in your car will affect your premium, as your risk of being involved in an accident is higher the more often you use it. If any part of your journey to work is in your car you will need commuting use.
What’s more, commuting several miles to work and back every day will considerably change your estimated mileage for the year, which means the car will suffer from wear and tear more quickly than it would have done before.
Your insurance company will also need to know where you intend to park your car while at work, college or uni.
This is when you use your vehicle for your job, other than driving to and from your permanent workplace. For instance, you might start to drive to meet clients, transport members of staff, travel for meetings, or drive to various offices. If you’re not sure what type of business use you will need its best to check with your insurance company.
Don’t forget to also let your insurance company know when you change your occupation, as some jobs carry a lower risk of a traffic accident than others and, therefore, your career choice could affect your insurance premium.
Buying a new car
There are many reasons why you might want new wheels – your old car has broken down or you fancy a change being just two of them. But if you do buy a new car, don’t forget to transfer your old insurance policy as well. Depending on the vehicle, your annual premium might change, so it’ll definitely be worth telling your provider. And remember it’s the law that every car driven must have insurance cover.
Making alterations to your policy could result in changes to your premium – and could even save you money – so it is essential you always let your insurance company know of any updates to your driving plans.
If you fail to do so, you could invalidate your policy when you need protection the most, which will certainly end up costing you a lot more in the long-run.