When it comes to taking out insurance for a vehicle, whether it be car insurance, van insurance or motorbike insurance, there are dozens of hoops to jump through in order to find a reliable yet affordable company. After all, many drivers tend to underestimate how much information an insurance company will need from a customer in order to provide a quote. As a result, it is vital that you provide factually correct information at all times.
Penalty points, also known as endorsements, are issued for a wide range of driving offences including driving whilst using a mobile phone and driving without insurance that will remain on a licence for a certain amount of time. If a driver manages to obtain 12 or more penalty points within 3 years then they may find themselves banned from driving or disqualified for a significant period of time. There are 15 different categories that motoring offences fit into and the number of points are handed out on a scale from 2 to 11. With this said, the amount of time that an endorsement stays ‘valid’ for will differ depending on the severity of offence in question.
New drivers tend to have much higher insurance premiums because they are statistically more likely to end up in an accident, and these prices can be influenced even further for younger drivers needing insurance. In fact, new drivers that manage to obtain six or more penalty points on their licence within the first two years of passing their test will have their licence revoked, regardless of the offence. Once they become eligible to drive again, these drivers must retake their theory and practical test, and any valid penalty points will be carried over from their provisional in the process.
Insurance companies are very meticulous and customers are legally obligated to provide truthful information when shopping around for a policy. As a result, this includes declaring the number of penalty points on their licence. After all, attempting to hide your driving history is seen as misrepresentation and can be very problematic in the event of a claim, potentially resulting in the voiding of your insurance.
According to statistics, drivers who have accrued endorsements are more likely to be involved in driving incidents and also tend to make more claims. Subsequently, it is very likely that these drivers will have a much higher premium in comparison to a driver with a clean licence because an insurance company must be able to balance the risk of insuring a driver with penalty points alongside providing an affordable policy for the customer.
One million penalty points are issued to UK drivers each year for both minor and severe offences. With this said, it is entirely possible to obtain insurance for a vehicle as long as the driver in question discloses any endorsements that may be on their licence ahead of time. After all, honesty is the best policy. For all your insurance needs, get in contact with a member of the Quote Goat team today where you can compare car insurance quotes quickly and easily!