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Car Insurance

3 myths about car insurance debunked

Car insurance can be a tricky thing to wrap your head around, so we’ve debunked a list of the top three myths about car insurance to save you money.

1. My premium should stay the same or go down if I don’t claim

In a perfect world, this myth would be true, as every year that you fail to claim, you are building a no claims bonus. However, there are a number of external factors to consider that will affect the cost of your insurance. It’s worth noting that most insurance companies have a maximum no claims bonus, so, after a set number of years, you will stop building a discount. Insurers will also consider your age, so once you reach a particular age, your premiums might increase as you will be seen as a higher risk.

2. If a claim wasn’t my fault, I won’t have to pay excess

If you put a claim forward that was not your fault (for example, if a third party collided into you at a traffic stop), then your insurance provider will usually release your excess if you can prove that it was not your fault and they’re able to claim back costs from the third party. However, you will bear the responsibility of paying your excess upfront, even if you are entitled to a refund later on. It is important for you to select a policy that has an excess that you will be able to afford.

3. Young drivers should get insurance under the name of their parents

It’s no surprise that many parents will want to give their children financial help, which may lead them to consider noting themselves as the main driver on their insurance policy or take out insurance in their name to reduce costs. While this might seem like a good idea, registering for insurance in the name of someone else in order to reduce costs is a form of insurance fraud known as ‘fronting’. This is an illegal practice and can lead to thousands of pounds in fines, penalty points and disqualification.

If you’re looking to compare the best auto insurance quotes, take a look at the rest of our site at Compare Insurance today.

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Car Insurance

What to do after a car accident that’s not your fault

After you’ve been in a car accident that wasn’t your fault, it can be difficult to know exactly what to do next in order to make a successful insurance claim. Once you’ve made sure that nobody has been seriously hurt, it’s important to take the following steps:

Gather necessary information

The driver who caused the accident is responsible for reporting it to their car insurance company, but many drivers are reluctant to do this. It is important that you get in touch with their insurer as well and collect the following information:

– The other driver’s address and name
– The other driver’s insurance policy and the name of their company
– Contact information and statements from witnesses
– Photographs of the scene of the accident (before the cars are moved)
– Any dashcam footage of the accident
– Any other evidence that may support your claim

Notify the right people

When you contact the other driver’s insurer to let them know that you have been involved in a crash with them, make sure that you give them full details of the incident without explicitly placing blame; simply give them the facts. Even if you don’t believe that you caused the incident, it’s a good idea to get in touch with your own insurance company anyway. This can be useful if the other driver denies any responsibility for the accident and you need to make a claim. Before you send your vehicle to a garage for repairs, make sure that you have written authorisation from your insurance company first.

Choose your battles

If the other driver’s insurance company claims that it has no evidence that its policyholder was at fault after your accident, you will need a lawyer, especially if you have been seriously hurt. A lawyer can help you navigate a large insurance claim, but they will take a portion of the settlement awarded to you. If your claim is small, you can take the driver at fault to small claims court.

To save money on third party insurance, get in touch with our team at Compare Insurance today.

Photo: Free image by Pixabay