Insurers risk calculations

[Rick101]

It's common knowledge that if you insure something and aren't quite truthful with the facts that come time to claim, you may have to make additional payments or may even have your claim rejected.

e.g You insure for 5k miles a year, social only, and actually do 35k a year inc business mileage. Thats pretty straightforward.


What I was made aware of recently is an anomaly where what you would assume is a lower risk, is actually coming out more expensive.

I picked up the tip from a forum and did a few quotes on the comparison websites. This is what I found

Garaged = £100
Off Street = £70
On street = £70

Surprisingly the 'garaged overnight' option came out more expensive than leaving it parked on the street! I'll never understand how they come out with these quotes and I don't think many do however it does lead onto another query.


What if I insured my car as 'on street' thinking thats worst case scenario and it covers all bases with the insurer and in reality I'll garage my P&J 99 out of 100 nights (because it's safer).

What then if I made a theft claim or say something happened in the garage that damaged the car? What would the insurers position be? My thoughts being a garage is a safe place but the figures show it as being a higher risk.

[joewilliams]

I believe the explanation is that being garaged gives thieves enough time to get past the anti-theft systems without being see.