Is Cosmetic Cover Worth The Money
Cosmetic car insurance is a product that offers cover for minor scrapes that you may not want to lose your normal policy’s no claims discount over. But does cosmetic cover represent good value for money?
Is cosmetic cover worth the money?
Over 50% of motorists in the UK have scraped or bumped their car, causing ‘minor’ cosmetic damage. However, 77% of us won’t get the damage fixed under our motor insurance policy due to the excess charge, which is often a few hundred pounds. Research suggests that the ‘cut off’ point where drivers consider it worthwhile making a claim is £500. As well as the cost of the excess, many of us fear losing our painstakingly earned ‘no claims’ bonus and having an increased premium next year. For this reason, some companies are now selling ‘cosmetic’ insurance, also called “Scratch and Dent insurance” and “SMART insurance”.
You still have to tell your car insurer about ‘cosmetic’ claims
That’s all well and good, but even if you claim on another policy, it can still affect your main car cover. Insurers share data and if you report an incident to one insurer, then the others will be aware of it and could increase your premiums anyway. Most policies say that if you have an incident or claim in your car, you are required to tell the insurer whether you make a claim with them or not. As a result, it may be far more cost-effective to have any minor damage repaired locally rather than pay an annual fee for extra insurance cover you most likely won’t use.
CPR Liverpool Car Repair Service
CPR Liverpool is Liverpool’s experts in car body repairs and alloy wheel refurbishment. Whether you have a scratch, a dent or a ding that needs to be repaired professionally, we have the expertise you are looking for to bring your vehicle looking as good as new. Our Liverpool car body repairs take place at our Repair Centre near Liverpool City Centre. Call us on 0151 909 3450 today.