Policywise car insurance review

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.

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.

• Who underwrites the car insurance from Policywise?

  Policywise works with a panel of car insurance providers, including Ageas, Aviva, AXA, LV and Markerstudy.

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 cover 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?

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.

Optional extras

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

General exclusions

Any cover arranged through Policywise is likely to become invalid if any of the following arises:

Check your policy for further details to confirm your cover is valid.

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?

Call the Policywise UK Claims line on 0161 429 4587 to make a claim. This 24-hour claims line is open seven days a week. Alternatively, you can email policywise@soterps.com to make a claim online.

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.

Policywise car insurance customer reviews

On customer review platform Trustpilot, Policywise has 3.8 out of 5 stars and a rating of “Great”, based on more than 3,200 reviews.

On similar platform, Reviews.io, the company has 3.5 out of 5 stars, based on more than 3,900 reviews. 64% of customers say they would recommend the service.

Customers love the good value and transparent service, but some report price hikes and difficulty getting hold of customer service (updated December 2020).

Frequently asked questions

• Do I need to have a black box fitted to my car with Policywise?

  That depends on the type of policy you have chosen. If you choose telematics car insurance, you would need to have a black box fitted to your car after taking out a policy. This must be fitted to your car within 14 days of the insurance policy starting, which Policywise will arrange. However, you’ll be permitted to drive without it until it’s fitted.

• Can I get insurance that starts immediately?

  Yes. If you wish, insurance from Policywise can start instantly.

• How long is a quote from Policywise valid for?

  A quote from Policywise is valid for 30 days however, this is subject to change due to live rate fluctuations.

• Can I pay for my car insurance in monthly instalments?

  Yes, Policywise offers policies that can be paid in full or by monthly direct debit payments.