Penalty Points and Insurance
Discussion
My wife is renewing her insurance and 3 points that came onto to her licence dated 25/01/02 no longer count against her. However, the insurance companies count them for 5 years and yet from reading some of the other topics you can have all traces of the points removed from your licence after 4 years. Why should you admit to anything beyond 4 years?
Basically because they have asked you to.
You could of course lie and say no, and hope that the insurance company if there was a claim could not prove otherwise.
However, if it were your house insurance, and you were asked whether it was broken into in the last five years, and you had a burglary 4 1/2 years ago what would the answer be?
It is your prerogative what you tell the insurance company in either case, but for the risk of invalidating my insurance and leaving me without a car or house, I wouldnt take the risk.
You could of course lie and say no, and hope that the insurance company if there was a claim could not prove otherwise.
However, if it were your house insurance, and you were asked whether it was broken into in the last five years, and you had a burglary 4 1/2 years ago what would the answer be?
It is your prerogative what you tell the insurance company in either case, but for the risk of invalidating my insurance and leaving me without a car or house, I wouldnt take the risk.
3 points won't make any difference to the premium if she has a preferred no-claims discount. If she has a history of claims during the last few years then it may increase the premuim some more.
AIUI, most insurers are now not interested unless you have more than 6 points for minor speeding and even at 9 points, if you have, say, 15 years claim-free with a full comprehensive policy during all of those years, then a loading is not automatically applied.
Underwriting is more of a statistical risk-analysis than cash-camera statistics/spin. The insurer is interested in the actual risk being covered, not a perception evolved by the desire to keep cashing in on otherwise safe driving. If anyone has the true figures as to the damage caused by the breaking of speed limits it will be the insurers, but they'll keep this to themselves as it's part of their business information.
AIUI, most insurers are now not interested unless you have more than 6 points for minor speeding and even at 9 points, if you have, say, 15 years claim-free with a full comprehensive policy during all of those years, then a loading is not automatically applied.
Underwriting is more of a statistical risk-analysis than cash-camera statistics/spin. The insurer is interested in the actual risk being covered, not a perception evolved by the desire to keep cashing in on otherwise safe driving. If anyone has the true figures as to the damage caused by the breaking of speed limits it will be the insurers, but they'll keep this to themselves as it's part of their business information.
ashes said:
to show how seriously they take even a totting-up ban, my insurance company automatically gives me up to £2500 per month travel expenses in the event of a ban
and at no cost
Thats good, can I ask who it is? For that amount of money you could hire a car for a year and employ a chauffeur!
I suppose that there are some limits though.
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