A few questions regarding Motor insurance during the coronavirus crisis writes Geraldine Herbert
Should I cancel my car insurance since I’m not driving? Cancelling your insurance is not a good idea and may impact on your insurance costs in the future. If you have a car parked anywhere in public, you need insurance. If on the other hand, you have a garage or somewhere safe to store the car you could declare it off the road and ask your insurance company if they can offer you the option to suspend insurance cover for the period you are not using your car.
My car insurance is about to expire, do I have any additional time to pay for my premiums after the policy expires? Yes the renewal grace period has been extended to 28 days, but you must contact your insurance company or broker to confirm the extension.
I want to use my car to help others in my local community, with drop-offs and deliveries for those who are less able but I am nervous if I have an accident I won’t be covered? Volunteer driving associated with COVID-19 is covered on private car policies under social, domestic and pleasure use, incl. HSE volunteers.
I have been made unemployed and I have no funds in my account to pay my direct debit, will I be charged for a missed payment? No Insurance companies have committed to not charging cancellation fees or missed direct debit fees.
Can I still get cover if my NCT or Driving Licence has expired during the lockdown? Yes insurers will accept a 4 months extension.
Can I get a rebate on my premium for not using my car? Motor insurers Allianz, AXA, FBD, RSA and Zurich have given a commitment to introduce “premium reliefs”. This is to reflect the lower volume of traffic and hence claims due to the travel restrictions. Each insurer will offer different rebates based on their claims experience. (source)
Geraldine Herbert
24th April 2020
