How to Predict Your Annual Mileage
When setting up your vehicle insurance, you will be required to declare your predicted or average annual mileage, so that your car insurance provider can understand how much you typically drive in one year. Of course, this will have an impact on the cost of your quote, so you’ll need to predict this with some calculation.
You’ll also need to provide your predicted annual mileage if you’re using finance for a vehicle, such as Personal Contract Purchase or Personal Contract Hire. This is due to these finance types typically resulting in the car being returned to the original provider after an agreed time limit, and as higher mileage depreciates the value of a vehicle, it may be worth slightly less in value if you were to drive it more.
In order to provide the most accurate results, it’s important to use some calculation and thought to accurately predict your annual mileage. Underestimating your annual mileage could invalidate your policy and you may result in needing to pay additional fees with some types of finance which have an agreed mileage for the year. In this guide, we explain how to accurately predict your average annual mileage to support in your car finance application or car insurance quote.
Calculate Your Weekly Mileage
The most accurate way of predicting your annual mileage is to split your annual mileage into weeks. Monitor the usual miles you cover on a typical week, including commuting, business miles and any private miles you predict you’ll be building up throughout the week. This week should be representative of your normal driving routine.
After doing this, you should multiply the weekly mileage figure by 52 to provide your predicted annual mileage. To be safe, many drivers add around 5% more onto this total figure to cover any additional and unanticipated journeys or unplanned trips.
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Refer to Your MOT
Another method (that is typically the easiest method) is to refer back to your MOT history certificates, as this will display your mileage recorded every year on your annual MOT. For this, you can either take a look at your MOT history paperwork or find your MOT history online just by adding your vehicle registration.
With the mileage taken at the time of your test, this will provide you with an accurate record of your miles every year for the last few years. If you’re buying a new car on finance or insuring a new car, you should work this out from the car you had previously.
Use Your Odometer
Using your car odometer, reset your dash instrument display to zero to calculate how many miles you are driving for one month. This is an easy method of determining your annual mileage as you’ll be able to see exactly how many miles you have used recently, in comparison to other methods (such as checking your MOT history) which calculate your mileage in the past few years.
Using your odometer will allow you to see how much you are using at the moment, which can then be multiplied to determine how many miles you should expect to be doing in one year.
What’s the Nation’s Average Mileage per Year?
According to Leasing.com, the average annual mileage for those living in the UK is 8,000 miles. Of course, this doesn’t mean to say that you will have the same mileage, as some drivers may rack up around 3,000, others may be 20,000.
Our key advice is to always overestimate in order to prevent car insurance from becoming invalidated or from finance monthly payments costing you more than they should.
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