Feb insurance

The most common causes of invalid car insurance

As the weather takes a turn and the chances of snow and ice increases, car accidents are 20% more likely to occur.

 

Given that motorists face greater challenges and reduced visibility on the road, it's important you have every confidence in your car and / or fleet cover.

 

According to the latest Government figures, there are 38.8 million licensed vehicles in the UK, with an estimated 336 accidents each day.

  

For the millions of people who have cars registered, it’s important to know the things to avoid for your insurance to remain valid.

Letting other people drive your car

In some circumstances, it may be necessary for another driver to use your car, however you must make sure they’re insured to do so beforehand.

 

For fleet cover, it's important to update your insurer on any new hires to your business, where you have elected to name drivers on your policy.

 

One of the main benefits to this is that there's the potential to lower your policy price.

Attaching objects to the rear-view mirror

Whilst you may want to personalise your vehicle, any decorative or personal items attached to your rear-view mirror could cause an obstruction to your sight when driving, which could then impact the outcome of any claims.

 

Not informing the insurer about a job change
 

Over the last year, where many of us have had a change in employment or financial circumstances, it's so important to keep your insurer informed of vital details like your job and address.

 

Failing to declare modifications to your car

Insurance companies class modifications as anything that has been changed since the vehicle left the factory.

  

Changes that render your car safe or unfit for driving, such as neon lights and tinted windows that restrict light, could void your insurance policy.

If you’re looking to change your vehicle or fleet cover, or you have any questions regarding car insurance in general, get in touch with our team.

 

 

Small businesses win COVID-19 insurance pay-outs after Supreme Court victory

In what has been described as a “historic victory” for SMEs, hundreds of thousands of small businesses could now expect to receive pay-outs on their insurance claims – which could be as high as over £1 billion.

Following the emergence of the pandemic, many of the country's firms turned to their business interruption policies for financial support, finding that those policies – in most cases – did not take into account such an unprecedented situation as we've now found ourselves.

 

 

After such a turbulent time, this ruling will come as welcome news to business owners and employers.

The Financial Conduct Authority previously said that around 370,000 policyholders could be affected by the outcome of the case.

Business interruption insurance is a key part in most commercial policies, so this now means that with the UK’s Supreme Court decision, businesses can begin the road to recovery in 2021.

Where a claim has been made, it is the insurer’s responsibility to contact you first and discuss your individual situation.

 

Small and medium enterprises are being assured that all valid claims will be settled as soon as possible.

Huw Evans – the Head of the Association of British Insurers – commented that the sector “welcomes the clarity the judgment will bring to complex issues.”

He also went on to state, “we will continue to work together as an industry to ensure customers have the clarity they need when it comes to what they can expect from their business insurance policies.”

For more information on the ruling, get in touch with us today.