Insurance Companies and Mileage

[Squink]

Looking for a bit of advice please.

Got a new job mid Jan this year, resulting in a large increase in my annual mileage. When I renewed my insurance at the same time I estimated 18k miles per annum. It's the start of November and I've done 19k already. While I am going to phone my insurance company (Admiral) and let them know, I'd like to know how to minimise the likely damage. I'll probably end the year on 23-24k miles but want to be careful not to end up going into some 'extra high risk' category (no idea how it works, but would hate to tell them I'll do another 6k before renewal in order to provide some leeway and get hit for another £300, when saying another 5k would result in an additional £100 payment).

How do mileage calculations work? Am I already effectively uninsured by going beyond my stated mileage? Or should I just not worry about it for this year? I'm not interested in playing games with my insurance, just want to be safely covered at the lowest cost.

 

[kaiowas]

When you took out your policy you were asked to estimate your mileage, you did this. Unfortunately you underestimated slighty. The estimate you provided it just that, an estimate, it's not a limit.

As I see it you are under no obligation to inform anyone of this (and they have no way of checking anyway) so I wouldn't worry about it for now although you may wish to reassess your estimated mileage when you renew.

 

[King4aDay]

When you took out your policy you were asked to estimate your mileage, you did this. Unfortunately you underestimated slighty. The estimate you provided it just that, an estimate, it's not a limit.

As I see it you are under no obligation to inform anyone of this (and they have no way of checking anyway) so I wouldn't worry about it for now although you may wish to reassess your estimated mileage when you renew.

Depends on if you signed a limited mileage declaration or not.

 

[Buchanan0204]

Did admiral ask for photographic evidence of your odometer?

 

[Westyfield2]

The estimate I have given has always turned out to be pretty accruate, but I do wonder why they ask as I'm not really sure what the 'right' answer is!

More miles = More experienced driver = Less chance of accident
More miles = More time spent on road = More chance of accident

 

[DogsBody]

As is always the case for insurers if they can attach more risk to a statistic and bump up your premium, they will, so to answer you question westy, it is the latter

 

[TripleT]

Asking for your odometer reading is pointless though. I have doc cover, so I can drive your car which would put mike on the clock. How can they prove that you did all those mikes and not me?

 

[Spartacus]

I really wouldnt worry if you estimated 18k and have only gone over slightly.

Its not like you estimated 5k per year and they found out you were doing 20k .. then there might be a problem.

 

[Locky]

I wouldn't tell them a thing.

 

[rodenal]

Neither would I, its an estimate as already said, so long as its not to the extreme (which it isn't) it would never be an issue

 

[CaptainRAVE]

I wouldn't bother telling them. I don't do much mileage, but a couple of times have gone slightly over - once when I got rear ended and had to have it repaired in the garage. Obviously they noted down the mileage, but nothing was ever said about it. An estimate is just that, an estimate.

 

[Iamzod]

Having worked for direct line you wouldn't believe the number of people who put down 1000 miles a year. Always made me laugh as it actually makes it more expensive

 

[MatteH Oxford]

For cars 3 years+ of age, the annual mileage history is recorded on the MOT certificate which is available electronically via the .gov/vosa website.

It seems unlikely that an insurance company would have access to the service normally, but they might ask for evidence in the event of a claim.

Tricky to prove who added the miles in the case of other people having access to the car & driving it 3rd party through their own insurance though.

 

[LeMson]

Having worked for direct line you wouldn't believe the number of people who put down 1000 miles a year. Always made me laugh as it actually makes it more expensive

My annual milage has dropped to 936 miles a year

 

[Squink]

I really wouldnt worry if you estimated 18k and have only gone over slightly.

Thing is, it's going to be 30% over the estimated amount. If it was just over I wouldn't be bothered about it. I also bought a car at the same time as I got my new job and insurance and I thought dealers registered the mileage at point of sale, though I don't know where I heard that.

Also got up this morning to find one of my tyres had gone flat which was a bit of an additional bummer.

 

[Spartacus]

Thing is, it's going to be 30% over the estimated amount.

I'd consider 30% over the estimate as an acceptable honest error in your estimate.

If its was Double your estimate it might be worth saying something though .. maybe!

 

[Spartacus]

Having worked for direct line you wouldn't believe the number of people who put down 1000 miles a year. Always made me laugh as it actually makes it more expensive

Out of interest .. whats the sweet spot with mileage and insurance quotes at Direct Line then?

 

[russ9898]

^Also interested to know the answer to the above question

 

[ZG002]

I find around 6k gives me the best results with cost, it's actually taken me just over two years to put 6k miles on the clock though.

 

[SGWills]

3K was the turning point if i remember correctly.

If you dont advise them of the change they can look at things like proportinal (sp?) settlement if it came to a claim, for example you did 30% more miles than advise so they would pay 70% of the claim costs etc.

Same with all things that should be declared, you run a risk if you dont tell them, but whther you tell them or not is your choice