Limited Mileage Policies
Discussion
Tonyrec said:
A lot of people have limited mileage Insurance policies but how do the Ins company prove that you are sticking to them?
Seems to me like the most abused part of a Policy, a sure fire way to get a reduced premium and very difficult to prove otherwise.
Anyone got any ideas?
The only way they could prove the mileage is to send round a photopgrapher to record your mileage at the commencement of the policy, and then again at the accident.Other than that it's down to the honesty/dishonesty of the policyholder.
Tonyrec, do BiB get reduced or increased personal car and house ins. 'cos of their occupation?
blademan said:
Tonyrec, do BiB get reduced or increased personal car and house ins. 'cos of their occupation?
Yes we do but you have to shop around.
Some companies will give you a healthy discount for being a Class 1 etc etc and they turn out to be more expensive than anywhere else.
You have to shop around like anything else.
As an example, im a Police Motorcyclist and have been for over 9 years. Ive never owned a Fireblade but i had trouble getting insured and they asked for my experience.
I told then what i did and they didnt give me any discount at all, in fact they didnt accept it as experince of any kind because it was not private motorcycling....needless to say, they didnt get my business.
They ask you to send them a signed mileage declaration at the start of each policy. Well, ClassicLine and Jardine Faber do anyway. I presume the other genuine limited mileage policy people do too.
Presumably this information is shared between the insurers and they catch up with the owner eventually - presuming the owner doesn't clock the vehicle, of course.
Of, alternatively, if you are involved in a total loss they'd instruct their assessor to check the odometer.
>> Edited by JonRB on Friday 25th June 10:37
Presumably this information is shared between the insurers and they catch up with the owner eventually - presuming the owner doesn't clock the vehicle, of course.
Of, alternatively, if you are involved in a total loss they'd instruct their assessor to check the odometer.
>> Edited by JonRB on Friday 25th June 10:37
I think they'll start using it as a get a clause, I noticed a LOT of companies when ring ringing around for a quote say "8k miles a year ok sir", since when was a lower than average mileage acceptable on a average policy?.
It's also an excuse to UP the premium if you are an average mileage driver.
>> Edited by cptsideways on Monday 28th June 09:02
It's also an excuse to UP the premium if you are an average mileage driver.
>> Edited by cptsideways on Monday 28th June 09:02
Tonyrec said:What!!!!
Tonyrec, do BiB get reduced or increased personal car and house ins. 'cos of their occupation?
Yes we do but you have to shop around.
Some companies will give you a healthy discount for being a Class 1 etc etc and they turn out to be more expensive than anywhere else.
You have to shop around like anything else.
As an example, im a Police Motorcyclist and have been for over 9 years. Ive never owned a Fireblade but i had trouble getting insured and they asked for my experience.
I told then what i did and they didnt give me any discount at all, in fact they didnt accept it as experince of any kind because it was not private motorcycling....needless to say, they didnt get my business.
Your kind of day to day experience is probably more useful than private.!! Tossers these ins. comps.
P.S. I own a blade as well.
I have 2 years NCB ( actually 3 but changed bike midway through the policy so I lost part years NCB. )
Paid £512 TPT&T last year. This year £245 with Carole Nash. No one has been able to match this.
Would like a 'bird like Streetcop though.
I've often wondered this. Footman James (Jag) always ask for the mileage reading, but Lancaster never do (MG). However in the event of a claim (being cynical) I'm sure both would look at the year-to-year readings recorded at the MOT and try to use this as an excuse not to pay out.
How
can prove or disprove who did the mileage, is a moot point. Also, I think the wording on my FJ policy is that the car must only do 6000 miles (regardless of driver).
Sheepy
How
can prove or disprove who did the mileage, is a moot point. Also, I think the wording on my FJ policy is that the car must only do 6000 miles (regardless of driver). Sheepy
The difference in premium is neglibible unless significantly low mileage. The insurers typically require a copy of the MoT cert so as renewable business they can compare year on year, or as new or current business they can use the mileage at the time of an accident against the last MoT to check if the mileage has been exceeded.
However, at the time of the inception of the policy you are merely guessing what mileage you may do over the year and you would have to check the small print for specific details as to whether exceeding this would affect a claim or if you should notify them if you think you are likely to exceed the stated mileage. If it is a significant part of the policy it should be detailed on the schedule and/or policy.
However, at the time of the inception of the policy you are merely guessing what mileage you may do over the year and you would have to check the small print for specific details as to whether exceeding this would affect a claim or if you should notify them if you think you are likely to exceed the stated mileage. If it is a significant part of the policy it should be detailed on the schedule and/or policy.
It depends with different insurers. Some ask you to sign a mileage declaration. If you go over an agreed limit in any one year they may ask for an additional premium to be paid or load the following year's premium. Technically, on such a policy you are obliged to inform them if you are going over the policy mileage limit as this is material information.
Other policies, ask you at quote to state what annual mileage you do. This is still material information but the policy differs in that it may not actually limit the mileage. In this case you would not have to declare during the policy period if you exceeded the mileage stated at quote, but that at renewal you must declare it unless you can prove reasonably that you do not intend to exceed the mileage declared e.g. increase mileage in previous year due to specific short term requirement that has now ended.
Where you could fall foul is if in an accident, the claims adjuster checked your mileage and mileage on MOT and found that there was a large discrepancy. In reality it is unlikely that the insurance company would be able to (or could) refuse cover but that you might be liable for payment of additional premium.
It's worth checking quotes for different mileages... often there's not much in it.
MC
Other policies, ask you at quote to state what annual mileage you do. This is still material information but the policy differs in that it may not actually limit the mileage. In this case you would not have to declare during the policy period if you exceeded the mileage stated at quote, but that at renewal you must declare it unless you can prove reasonably that you do not intend to exceed the mileage declared e.g. increase mileage in previous year due to specific short term requirement that has now ended.
Where you could fall foul is if in an accident, the claims adjuster checked your mileage and mileage on MOT and found that there was a large discrepancy. In reality it is unlikely that the insurance company would be able to (or could) refuse cover but that you might be liable for payment of additional premium.
It's worth checking quotes for different mileages... often there's not much in it.
MC
Tonyrec said:
But how can they prove that you have driven the miles?
I commented on Mrs Fif's limited mileage policy on another thread. (commuting to work issues)
In our case we have never been asked for any mileage declaration.
OK this car was bought new, and it so happens that the total odometer miles are lower than our accumulated declared limited mileage however you look at it. Records to back it up too.
I guess in the event of a claim as every year the policy has been limited mileage not too much trouble to add up the data and compare directly with odometer reading.
All it needs is one year where we don't claim a limited mileage reduction and after that almost anything goes.
So good question tonyrec, dunno.
FiF
Tonyrec said:
But how can they prove that you have driven the miles?
I suspect that if you make a large claim, they will go through your paperwork with a fine tooth comb, looking for evidence that you have breached the terms of the insurance. Otherwise, they just have to believe you, I guess. I fill in an annual mileage statement, but that's complicated in my case by the fact that a large proportion of the miles are driven on tracks, anyway. Gawd knows what they'd do if I made a large claim, but I suspect whatever it was was, it would be disadvantageous for me.
Gassing Station | Speed, Plod & the Law | Top of Page | What's New | My Stuff