Car insurance policies are fragile and failing to declare basic information could see a policy invalidated and an insurer refusing to pay out on claims. Hiding information about a previous motoring accident from an insurer can invalidate your policy even if this was just a minor incident.
“This is a real concern as any motorists could be invalidating their policy when instead they need to look at the bigger picture where factors such as the size of the claim, driving history, faulty and policy details more often determine premium increases after claims.”
However, some insurers won’t let information affect overall premium prices unless a proper claim is made by one driver.
Small incidents mean cheaper repair bills and some motorists may decide to not tell an insurer about a collision and pay for repairs themselves.
This will protect any no claims bonus and doesn’t go against your insurance policy record which could prevent premiums being boosted.
If you’re involved in an accident you must provide details of a vehicle registration number, name, address and details of the vehicle owner.
Failure to stop at the scene of a minor accident and exchange insurance details could land a motorist in serious police trouble.
Not exchanging details could be seen as a failure to stop or failure to report an accident could see police officers slapping a motorist with heavy fines and penalty points.
The penalty could see a minimum of five points on a driving licence but this could even rise to as high as ten points in some conditions.
Motorists could also be hit with a £5,000 fine and in some extreme cases, the offence may even be sent to court.
Forgetting to do this at the scene of an incident is not a problem as long as you exchange these details and report the accident to a local police station within 24 hours.