DRIVERS guessing their annual mileage when applying for car insurance are at risk of overpaying.
One in three Brits admit to guesstimating, and over a quarter of those motorists have been found to be spending more than they should.
This is despite 82 per cent of drivers knowing they can find an accurate record of their mileage on their MOT certificates.
Yet, 40 per cent who knew this admitted they still don’t check MOTs, according to a new study by comparison site uSwitch.
The research also revealed that half of all motorists had no idea that significantly underestimating mileage can invalidate a policy completely.
Driving without insurance can land you an unlimited fine and six to eight penalty points on your licence.
More than a quarter of respondents said they underestimated because they didn’t have the time to work out an accurate figure.
A further one in four added that they had no idea of what their mileage was, even though it is a key indicator of how much you should be paying for your premium.
Motorists estimate they’ve driven 6,167 miles on average over the past year.
A fifth of those who overestimated their mileage said they did so to err on the side of caution.
Sabrina Webb, uSwitch Insurance Expert, said: “Getting the information right when you are applying for an insurance policy is always important, as you don’t want to run the risk of a claim being turned down, should you need to make one.
“Mileage is no different. Unfortunately, there’s a lack of appreciation amongst many drivers when it comes to how important it is to provide accurate mileage figures, and how big an impact it can have on their premiums.
“While it may seem quicker to just hazard a guess when looking to sort your motor insurance, by providing an accurate estimate, you reduce the risk of overestimating and, therefore, overpaying for your insurance policy.”