Keeping important policy details up to date

To help avoid any unwanted surprises if you need to claim, here are some of the areas that you will need to consider to ensure that your policy is up to date and suitable for your needs.

1. Job
Your occupation can affect the cost of motor insurance so you’ll need to check with your provider if you change your career – you could see costs go down if you move to a lower risk position. If you work from home, you’ll need to make your insurance provider aware of this as it may not always be covered and you may need a more specific policy.

2. Moving home
Your address and where you park your car can affect your motor premium. If you move to an address with a garage or a drive you might see your premium reduce. Also, if you move home remember to update both your buildings and contents policies.

3. Driving
Your motor insurance is based on how you use your vehicle so if a new job or a house move means that you start commuting by car you’ll need to double check that your policy covers this.

4. Health
If you have a change of health, it may impact your travel insurance policy. It’s important to always disclose medical conditions for yourself and any close relatives, both when you take out a policy and when renewing an annual policy. It’s also important to update your broker or insurer if a new medical condition arises throughout the term of your policy. This will help to ensure that you maintain the important protection for any treatment needed abroad or if you need to consider the cancellation of any trips.

5. Underinsurance
Insurance is a promise to pay based on the amount that you insure for, so make sure  all of your belongings have the correct valuation. We’ve seen recent examples where classic cars and gold jewellery have been underinsured because of increases in the underlying market value. You must always remember to review the value of your possessions annually as households buy more and more expensive tablets, gadgets and designer clothes.

Ultimately there are many factors that affect your insurance policies such as taking in a lodger, receiving a conviction or obtaining points on your driving licence. Make sure you always notify your provider of any changes in your circumstances and if in doubt speak to your insurance broker.

New products are developed all the time and an insurance broker can advise on what is most suitable for your needs.  Alternatively, if you find yourself needing specialist cover for, say, a flood risk property, an imported vehicle or travel insurance for a medical condition, contact BIBA’s Find a Broker Service on 0370 950 1790 or

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