 Prudential Car Insurance Warns About High Excess Policies: A strange phenomenon was highlighted last week as research commissioned by Prudential car insurance polling over one thousand car owners showed that, although many people were voluntarily increasing their excess amounts to save money off their policy, there was a considerable lack of care for securing items left in the policyholder's vehicle.
With many vehicle insurers the savings obtained by agreeing to a higher excess amount on your policy can be huge. The people affected most by high prices are younger drivers and high excesses are often the only way to affordable insurance. Sadly, this group are often the ones with the most equipment such as phones, ipods, laptops and clothing lying all over their car.
According to the insurer, one in five people leave over £150 worth of valuables on display in their car whilst leaving it unattended. Despite continuing campaigns regarding car security it seems that people are not heeding the advice even for the most obvious of stealable items with one in ten people leaving their mobile phone in full view. The most disturbing figure was the 6% of people who admitted to forgetting to lock their cars on a regular basis.
The main concern was that many items do not seem high risk such as paper documents. Many people associate identity theft with their wallet which they keep with them. But leaving items such as bills, bank statements or even hospital appointments can still be a temptation for identity thieves.
With an average of 2,000 vehicle related thefts per day from July 2006 to June 2007 (source: The Home Office) you may not be saving yourself any money by opting for a higher excess on your policy. Always make sure that if you are going to take the deal that you do everything you can to avoid tempting would-be thieves. †
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NCD News: Prudential Car Insurance - 21.09.07
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