temporary one month car insurance

BattleToy
BattleToy Posts: 109 Forumite
in Insurance & life assurance
My current car insurance will end in a week, and I only need to have one month car insurance only as I will sell my car soon.

Having checked with other insurance companies, temporary 1 month car insurance costs more than my annual year premium. It is ridiculous.

Can anyone suggest to get the cheaper temporary car insurance in other companies. Thanks!

Comments

  • EdGasketTheSecond
    EdGasketTheSecond Posts: 2,558 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Temporary cover is very expensive (can be cheaper just to hire a car). The alternative is an annual policy and cancel after one month but check how much the cancellation fees are and choose a company with low penalties for ending early.
  • mattk_180
    mattk_180 Posts: 375 Forumite
    Most companies and sites lead back to tempcover.com who seem to be the main players.


    If quotes are more expensive than your annual policy then I would check the cancellation terms of your current insurer, renew for the year and then cancel when you no longer have the car to reclaim the unused premium (providing you don't make a claim).
  • paddyandstumpy
    paddyandstumpy Posts: 1,486 Forumite
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    It's not ridiculous. Short term insurance policies suit some people's needs, where perhaps they only need a weeks cover.

    You can still cause many millions of £'s of damage to other cars/people/property and this is what insurance covers.
    The principle of insurance is the claims of the few are borne by the many. As the policies are only short term rates there is a smaller 'pool' of premiums therefore rates need to allow for that.
    It's not a direct comparison where the annual cost can be divided by 12 and that's what 1 months short term policy should cost.

    That's before you then factor in the cost of admin; setting up the policy and issuing docs, updating MID, the cost of the system licence which processes the transaction, the cost to google for the click through... Plus then the cost of the staff at the insurer.
    It could be argued that short term policies require just as much if not more admin/time, which all costs.

    For 1 months cover, it may be cheaper to renew and cancel, paying the appropriate cancellation fee and time on risk charge.
  • silvercar
    silvercar Posts: 46,955 Ambassador
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    cuvva.com provide short term cover.
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