Insurance policies could be invalidated after house move
New research has revealed that 14.7 million drivers could invalidate their insurance policies by not updating details after a house move.
According to MoneySuperMarket, 18% of UK drivers have delayed informing their insurers after a moving house in case it leads to a rise in premiums.
This is despite 92% admitting they know that failing to provide their insurers with an updated address could invalidate their policies.
MoneySuperMarket is now advising drivers to update their insurer when a moving date is confirmed, ensure their vehicle logbook and driving licence is updated, check how changing postcode could affect premiums, and compare quotes if premiums go up.
Unexpected costs
Alicia Hempsted, car insurance expert at MoneySuperMarket, said: “Moving home is already a stressful and expensive life event, so unexpected costs, such as car insurance premiums increasing due to a change of address, can add further pressure.
“Most drivers understand the importance of keeping their policy details up to date, but many don’t know how their premium might change until after they’ve moved.
“Our new tool gives people a quick and simple way to check what could happen to their car insurance premium when they move, helping them avoid surprises and plan ahead. And while costs may increase for some, others could see their premium go down.”
