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Car insurance updates for short term financial gain could backfire on policy holders which could lead to higher costs or even risk of prosecution. Motorists have been urged to “not panic”

and rush into an “ill-informed” decision on their agreements even if they may be struggling financially. Speaking to Express.co.uk, Alan Inskip, CEO of car insurance experts Tempcover said

it was important for motorists to be aware of the risks.  He said: “While it may be tempting to halt your vehicle costs in the short-term, it is important for motorists to be aware that this

may have long-term consequences.  “Whether that be financial costs related to policy amendment fees or even prosecution for driving uninsured or untaxed. “Remember that there are absolutely

no additional charges incurred for stopping cover when your annual policy expires.  READ MORE: CAR INSURANCE REFUNDS SHOULD BE OFFERED BASED ON PREMIUMS The data revealed there were 544,887

SORN requests between 23 March and 19 April compared to 252,820 the previous year.  However, motorists would be unable to use their car for day-to-day use if they declare it as off the

road.  Road users could only use their vehicles to drive to a pre-booked garage appointment with those that fail to abide by the rules hit with fines.  Experts at Tempcover say temporary

vehicle insurance may provide  “suitable” and a “largely unknown solution” during the pandemic.  A temporary car insurance agreement offers motorists cover when they use their vehicle which

could be ideal for the uncertain situation. This means motorists could be covered for as little as one hour if they needed to make a vital journey.  Mr Inskip told Express.co.uk: “This

provides peace-of-mind to the millions of UK motorists, who are currently staying home and using their vehicles far more infrequently than usual.  “[This means] they are still legally

insured to drive without committing to the cost of an annual policy. Temporary insurance is ideal for motorists that require quick and flexible vehicle insurance without the hassle and

expense of adjusting an existing annual policy.  “Whether you need to borrow a car, test drive a new vehicle before buying or even drive away with a new set of wheels straight from the

forecourt without having to arrange annual cover.  “An added benefit is there’s no risk to any existing No Claims Discount, as it’s a separate and standalone policy.” Car insurance experts

at By Miles have claimed traditional car insurance companies could be set to make £1billion during the lockdown.  This is because firms continue to charge customers monthly premiums despite

firms expecting to see a dramatic reduction in claims as fewer journeys are made.  Tempcover has launched a new app which can help customers secure a short term car insurance policy at the

touch of a button.