Research carried out by swiftcover reveals that a significant number of British drivers could be unwittingly putting themselves under financial pressure due to a lack of comprehension about what is and what is not covered by their insurance.
In the company's study more than a third of motorists were shown to be unaware of the effects of underrating their mileage in an attempt to reduce insurance costs. Some 25.8 per cent of respondents reported to be unaware whether driving beyond their stated amount of miles would have an impact on their insurance cover, with 16.1 per cent claiming that it would not have an effect. However, it was stated that a failing to contact their supplier upon exceeding their mileage may result in motorists invalidating their cover. As such, consumers were urged to constantly check their mileage and to get in touch with their insurance provider should they notice something is awry or their circumstances change.
Further research showed that more than a fifth of motorists are unaware whether or not they will be covered should they have an accident while smoking or eating at the same time as driving. This figure comes despite just under two-thirds (65 per cent) of respondent stating that they consume while on road, with over one in three choosing to smoke.
The financial services firm pointed out that although eating or smoking while driving is not a criminal offence outright, should they suffer an accident while doing on these things than they could be accused of being negligence. It was purported that motorists' reaction times can be up to 50 per cent slower should they be talking on the phone or having a cigarette or snack. Meanwhile, swiftcover stated the Highway Code recently listed smoking and eating as dangerous distractions when behind the wheel.
Following on from being forced to dip into their own pockets and purses, it may be possible that those drivers with inadequate levels of insurance might find that their ability to manage other demands on their spending. Such areas could well include loan, credit and store cards, utility bills and mortgage or rent repayments.
In addition, the study indicated 29 per cent of drivers think that their policy will automatically cover them should they get behind the wheel of a friend or partner's automobile.
Tina Shortle, spokesperson for swiftcover, said: "While choosing the lowest price car insurance policy is most people's objective, it is also important to know exactly what is and isn't covered. Drivers make a lot of assumptions about their policies, so it's best to read all terms and conditions carefully and to regularly review the terms."
Consumers looking to buy a new car over the coming months might wish to consider taking out a secured loan to finance their purchase. In selecting this type of loan, borrowers may be able to select a top-of-the-range model quickly and effectively, in addition to being left with enough spare cash to help get a comprehensive insurance policy.
A secured loan could also be recommended for those wishing to meet the cost of damage to a sailboat. In a study conducted by Saga in April it was shown that hitting an underwater object while on the sea will cost the typical consumer 2,419 pounds. Meanwhile, the average burglary claim stands at 1,820 pounds.
Finding the best car insurance can be difficult for customers that do not know how to get the best information and where to find the best product options. The advantage for drivers now is that much of the motor insurance search can be completed online using a motor insurance specialist site. Many drivers believe the best auto insurance is always the cheapest. This is definitely not the case. The best auto insurance varies from driver to driver, depending on their specific coverage needs. A good search looks at the benefits of various coverage features, as well as the price options.
Online searches are much more efficient than searches using print directories or other more cumbersome search methods. Online specialists usually have searchable databases that allow motorists to efficiently explore product and service types, as well as price points. Drives can sometimes find unique discounts or premium protection features much more quickly than they could through one by one searches.
Brokers or insurance specialists are great resources in the motor insurance search process. Customers know the most about their particular driving habits and protection needs, but must rely on brokers to help them efficiently pinpoint products that match up the best with these particular needs. A broker can narrow down product options by features and price points much more quickly than an individual could. Brokers have expertise in this area and are more intuitively aware of the various features and discounts that might appeal to certain motorists.
A thorough motor insurance search will often turn up unexpected premium services and discounts for drivers. By avoiding the temptation to buy the first low cost option that comes up, motorists can find coverage features that might be especially useful based on their driving practices and vehicles. Although finding a reasonable premium cost is important to a good insurance deal, the right benefits can make the difference between an especially stressful claims experience, and one that counters the negative effects of an accident.
Insurance carriers vary greatly in their products, services, and dedication to helping customers through claims processing. Brokers or specialists can be a great ally when finding the right carrier or in managing a challenging situation with one. Brokers often play the role of advocate for their customers as part of their support services.
A motor insurance search is about finding peace of mind that comes with having great insurance protection at a modest monthly premium cost. Insurance is not something that regularly, if ever, pays tangible dividends. In fact, most people would agree that it is better to never receive the product benefits tied to a protection plan. The greatest benefits are intangible.
Having the right protection at a fair price gives great security to a driver who knows that at any time, while driving, something uncontrollable could happen. Although insurance cannot prevent accidents, injury, or vehicle damage, it can help alleviate some of the pain and stress caused by them. This is why drivers should be thorough and diligent when exploring their protection options.
Both Mark Dawson & David Thomson are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Mark Dawson has sinced written about articles on various topics from Insurance, Personal Finance and Finances. Mark Dawson writes for the the Loan Arrangers where you can apply online for , you can also. Mark Dawson's top article generates over 90500 views. to your Favourites.
David Thomson has sinced written about articles on various topics from Finances, Motorola Cell Phone and Mortgage Insurance. David Thomson is Chief Executive of BestDealInsurance an independent specialist broker dedicated to giving consumers the best insurance deal. They offer great value home, life and. David Thomson's top article generates over 90500 views. to your Favourites.