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What is a Mid Term Adjustment?

10 January 2019

It’s your first time making a change to your current insurance policy and you’ve no idea what a “Mid Term Adjustment” is? Or maybe you’ve had to make one before but you’re still unsure how it all works? Don’t worry, we have you covered!

So what exactly is a mid-term adjustment (MTA)?

A Mid-Term Adjustment is any change in your circumstances that might affect your active insurance policy. For example, switching address three months after your policy insurance began would be a mid-term adjustment.

But why would I need to make a mid-term adjustment?

There are many reasons why you might want to make an adjustment to your insurance policy. The Autoline MTA team find that that the most common reasons for making an MTA were address updates and vehicle changes.

Other reasons include:

• Adding a named driver to your policy – All you need to do is contact your insurer with the additional drivers details but be careful not to drive your car or allow anyone else to drive your vehicle until you have received confirmation that cover is in place.

• Selling your car or buying a new one - You just have to provide your insurer with the new car details, and they should be able to update your policy for you.

• Amending personal details – This can include changing your name if you recently got married or changing your job address and even your job title. According to Rod Jones, insurance expert at uSwitch, not changing your job title may seem insignificant and if you fail to inform you insurer about it, you may be at risk of invalidating your policy altogether.

• Needing to change your annual mileage

• Informing your insurance company of any modifications made, including engine changes, sports seats, body kits or spoilers etc

It is important to request an MTA straightaway in the case of any of the above situations. By not notifying your insurance provider, you could unknowingly invalidate your policy.

How much does it cost?

Some amendments will have no effect at all with your premium remaining the same, while others, like adding a driver under the age of 21 to your policy, will likely increase your premium significantly. It all depends on the MTA and your insurers policies.

If you’re an Autoline customer and you have a question about Mid-Term Adjustments or you need to make a change to your current policy, then don’t worry. Just give us a call on 03452 30 30 30 and we can take it from there.