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At PD Insurance, we complete insurance endorsements every day because we want your insurance policy to be the perfect fit for you. And we don’t want you paying any more for car insurance than you need to.
What is an insurance endorsement?
An insurance endorsement is a change you make to your existing insurance policy because your motoring or life circumstances have changed. For instance, you’ll update your policy when you move to a new house because you’ll be parking somewhere new. Or, when you hit a no claims milestone.
Or, you might be removing a listed driver because you’ll now be the only driver of your car. Which could very well bring down the cost of your car insurance. In fact, you’ll be happy to know there are 7 financial perks of being the only driver of your car.
Changes to your car insurance policy
When you take out your first car insurance policy with an insurer, you’ll fill in the details of your living and motoring situation at the time. This way you’re able to get well-suited, (hopefully) well-priced cover from that insurer.
Then life happens. Things change. And your personal circumstances usually don’t change at the same time as your insurance policy is ready for renewal.
What a lot of people do is wait until their renewal period to update their policy with these changes. Think twice about this. If you update the insurer as your situation evolves you’ll help ensure you have adequate insurance protection.
And – importantly – you could also end up saving money on your premium. Any change to your circumstances is likely to affect the insurance premium calculation at the insurer’s end. Hopefully for the positive!
If your premium does drop, with any good car insurance provider this will result in a returned premium. Aka dollars back into your bank account.
Find out what other milestones you should notify your insurer about with these 5 tips for your car insurance renewal.
When can you make an insurance endorsement?
You can make an insurance endorsement at any time. You can make it just after you first purchase your policy, when you renew it, or anywhere in between. If you’re constantly wondering how to save money on your car insurance, an insurance endorsement could be one of them.
Once done, it’s a legal amendment to your insurance contract. You might receive a whole new contract or simply some additional documents to keep with your original contract that only replace portions of it.
Know that any endorsement you make will carry through to your new insurance period, unless your insurer declares it has a stipulated timeframe.
Bonus: if you’re updating your insurer along the way there’s no need to get in contact with them at renewal. Just let your car insurance roll over – one less task to tick off in the hustle and bustle of life.
Your car insurance policy
Did you know that when you purchase a PD comprehensive car insurance policy, you don’t just get accident and third party liability cover. You enjoy several additional benefits and a range of optional extras to choose from. See our PDS for the finer details.
Why not take the time now to explore our comprehensive car insurance, third party fire and theft, and third party property damage.
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