Can anyone tell me why the length of time one has owned a motor car has any effect on the premium one has to pay?
I have been told by my insurer that because I have owned my car 5 years less than the length of time on the renewal document, I need to pay approx. £50 extra.
In my experience they will look to increase policy costs for any tiny detail.
Somewhere I am sure you will find the justification that some smart alec has devised to justify this.
>Yes the age of the car will always have an effect on the premium, but surely not the length of time one has owned the said car.
I was wondering whether they had used the age of the car to estimate its value.
I'm not sure how they came to have such a big error for the age of the car.
Anyway, it all worked out for the best as it prompted you to shop around
I work in insurance and how long you have owned your car has no bearing on your premium. It will be based on the vehicle, you age and experience, claims, driving convictions, how many miles you do, and what cover you require, ie comprehensive, third party etc.