MoneySuperMarket warns that inaccurate annual mileage declarations can lead to invalidated insurance policies and rejected claims. With many UK employees commuting regularly, accurate mileage estimates are crucial. Mileage is a key factor for insurers assessing risk and calculating premiums. Underestimating mileage can lower upfront costs but risks claims being declined. Severe underestimating may leave drivers uninsured. MoneySuperMarket emphasizes the importance of accurate mileage for better premiums, and offers a Mileage Calculator Tool to assist drivers in estimating their mileage based on regular journeys.
Your annual mileage might seem like a small detail, but if your insurer finds you've significantly underestimated your mileage, particularly during a claim, they may cancel your policy or refuse to pay out, which could leave you exposed.
While it might seem safer to overestimate, MoneySuperMarket data shows this can increase premiums unnecessarily, by as much as £414. Accuracy is key to getting the best deal.
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