We’ve analysed car insurance through Policywise, which offers telematic (“black box”), taxi and traditional policies for all types of drivers.
Policywise is a broker which specialises in car insurance for high-performance, imported and classic cars. Policywise says it can cover a wide range of drivers such as taxi drivers, learner or young drivers, and even those with a tricky driving history. Here’s what else you should know about this broker.
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Who is Policywise?
Policywise is an insurance broker that sources specialist car policies to a wide variety of drivers and their standard and non-standard cars. It also arranges business, travel, pet, gadget and home insurance.
Policywise Ltd is authorised and regulated by the Financial Conduct Authority.
Policywise Ltd also trades as Girls Drive Better, which is insurance designed for women.
What are Policywise’s levels of cover?
- Third party. Third party cover is the minimum level of cover that is offered by Policywise. All drivers in the UK are legally required to have at least this level of car insurance to be on the road. If you are responsible for causing an accident, you’ll be protected for damage to third party vehicles or property. Though it won’t cover any damage to your own car. Don’t assume this is the cheapest because it offers the least protection. Check each cover level to see which offers the best value.
- Third party, fire and theft. You’ll get the same level of cover as third party but this will also provide protection against any fire damage or theft of your car.
- Comprehensive. This is the highest level of cover on offer and will give the same protection as the other levels as well as insuring your vehicle against accidental damage and vandalism. It’s always worth getting a quote for comprehensive as in some cases, it can be cheaper than lower levels of cover due to the risk profile of customers who choose them.
What types of car insurance are available?
- Learner driver insurance
- Young driver insurance
- Convicted driver insurance
- Taxi driver insurance
- Telematics car insurance
- Classic and imported car insurance
- Fleet and family fleet car insurance
- Temporary car insurance
What is covered under my Policywise policy?
|Cover benefits||Third party||Third party, fire and theft||Comprehensive|
|Liability to other people||✓||✓||✓|
|Fire and theft||✓||✓|
Beyond the standard cover benefits above, any other benefits to your insurance policy will vary depending on the insurer that is able to provide the cover through Policywise.
Check your policy details carefully to ensure you have the right cover for your needs.
Policywise does offer some optional extras to provide you with more protection in certains areas. These optional extras include:
- Motor legal cover
- Excess protection
- Key cover
- Mis-fueling cover
- Taxi breakdown
Any cover arranged through Policywise is likely to become invalid if any of the following arises:
- You fail to pay for your premium.
- Your car is being driven by an unnamed driver on your policy or by a person that does not have a valid driving licence.
- Your car is used for rallies, races or competitions.
- You change your car during the policy term to a car that the insurer cannot cover.
- You do not provide the correct documents to support your application.
How to save on your car insurance policy through Policywise
- Check comprehensive. Contrary to what you might expect, comprehensive cover can be cheaper than third party (TP) or third party, fire and theft so it’s always worth checking. This is because of the risk profile of many people who get TP.
- Park securely. Cars kept in a garage or on a secure driveway are usually cheaper to insure.
- Reduce mileage. If you start working part-time or your long commute becomes much shorter, letting your insurer know about a reduction in your mileage could result in cheaper insurance.
- Increase the excess. Agreeing to pay a bigger voluntary excess could make your overall premium cheaper. But remember that your insurer won’t pay out for a claim that costs less than your excess. So be careful about making it too high, as it could leave you out of pocket if damage occurs.
- Drive carefully. If you choose a telematics policy, your driving and braking habits will be monitored closely through the black box fitted to your car with the Girls Drive Better telematics policy so consistent safe driving is likely to lower your premium.
- Pick a smaller car. Choosing to drive a small and safe car is likely to lower your premium.
What is my excess?
Your insurance excess is the amount of money you have to pay towards a claim. Your insurer won’t pay out for a claim that costs less than this amount. A compulsory excess amount might vary depending on the age of your car and your driving experience.
A voluntary excess is normally an amount set by you when taking out a policy. You’ll have the option of adding or increasing a voluntary excess, which should in turn reduce your premium.
You’ll find details about any compulsory or voluntary excesses in your policy document.
What is the claims process for Policywise?
You’ll need to have your policy details and all the facts about the incident in order to make a claim.
It’s vital that you let your insurer know about an incident as soon as possible, even if it’s not your fault. Failure to do this could result in a rejected claim later on.