Drivers have been warned that a common insurance misconception could result in higher prices (Image: Getty)
A motoring expert has urged drivers not to believe that incorrectly claim to help them get . Whilst the average fell by 23 percent during 2024, the average driver is still paying more than £700 for a year’s cover. As a result, many motorists are looking for .
According to , one of the most common myths surrounding is that it is best for motorists to renew their current policy. They explained: “Loyalty doesn’t always pay when it comes to car insurance. While some believe that staying with the same insurer will result in better rates, shopping around before renewal can often lead to more competitive deals. Since January 2022, FCA regulations have prevented insurers from charging renewing customers more than new ones for the same policy. However, it’s still worth comparing options each year to ensure you’re getting the best possible deal, including considering your existing provider.”
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Drivers should always get quotes from a price comparison site a month before their policy expires (Image: Getty)
Whilst motorists may think that car insurers would reward customers who are brand loyal, the reality is that drivers who renew their policy are likely paying significantly more for cover.
Instead, it is vital that drivers begin looking for their next insurance policy on a price comparison site around a month before cover ends with a view to paying for it with 23 days in advance.
Not only can doing this show prices from a wide range of insurers, it can also prove to the companies that the driver is well-organised and does not leave large financial decisions to the last minute.
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Young drivers were also urged to avoid ‘fronting’, which can result in the policy being cancelled (Image: Getty)
Virtu Motors also encouraged drivers to think twice before ‘fronting’ – a surprisingly common practice in which new drivers declare a more experienced motorist as the main user of their vehicle.
They added: “New drivers often face high insurance premiums, leading some to declare their parents as the main driver to cut costs. However, this practice is known as ‘fronting’ and is illegal. It could result in a fine of up to £5,000, six penalty points, or even the cancellation of the policy.
“Instead, it is worth reviewing whether covering an extra driver, with a good driving history, will help reduce your premium rates. Just remember that they should not be listed as the main driver.”
Without any no claims bonus (NCB), the number of years a driver has not had to make a claim to their provider, getting insurance can be a particularly expensive endeavor, with some motorists tempted to bend the rules.
However, drivers who use fronting to get cheaper insurance can face serious repercussions if the provider finds out – potentially cancelling the policy and leaving the vehicle owner paying even higher amounts for future cover.
Instead, motorists looking to save on their insurance should add an experienced driver they know as a named driver on their own policy, which can help to reduce the cost of cover while staying within the correct side of the law.