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Changing car midway through insurance policy
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# 1
prender
Old 15-12-2009, 12:13 PM
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Default Changing car midway through insurance policy

Hi,

I'm midway through my current year's policy and my car has given up the ghost. I've already got another one but I was wondering about how the no-claims bonus works in these situations. Can I contact my current supplier and simply ‘switch’ the car on the policy to the new(er) one - or do I have to stop this one and start anew?

How would future declarations of no-claims go? Do I count the number of years driving without a claim or (I think more likely) do I only count the years where a full year has been completed with one company? If the latter is the case though, it does seem unfair on drivers who change their cars with some regularity.
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# 2
Astaroth
Old 15-12-2009, 12:15 PM
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You can switch the vehicle on cover (expect an admin fee) or cancel the policy (expect a cancellation fee) and start a new policy elsewhere.

If you cancel it you will be able to move the NCD elsewhere but wont acrue anything for the X months of this years policy.
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# 3
lisyloo
Old 15-12-2009, 1:35 PM
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Simplest thing to do is just transfer the policy over to the new car.
There may be a premium uplift if it's a posher car, or even a refund if you have gone downmarket, there may also be an admin fee for the work involved, but all round it's probably easiest.

Quote:
If the latter is the case though, it does seem unfair on drivers who change their cars with some regularity.
It's the latter.

Insurance companies are capitalist businesses with profit for shareholders as their main aim Sorry, that's the reality.
Insurance polciies are generally provided on a 12 month basis.

Most of the time you should be able to transfer with a small cost and let's remember the insurer needs to do some work and provide a call center and buildings etc. so it's only fair they should be paid. They aren't staffed by charity volunteers.

Sorry if it doesn't sound "fair".
But I reckon capitalism is preferreable to any of the other alternatives available.
Your complaint pales into insignificance compared with communism.
Buisinesses get to set their own rules (within the law) and I agree sometimes it appears unfair.

The sensible thing to do in your situation is to get quotes for particular models before committing to a purchase especially is money is tight.
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# 4
McKneff
Old 15-12-2009, 1:42 PM
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Ive switched cars many a time mid policy and have never yet paid an admn fee.
The policy has cost that little bit more because its been a newer car.

I'm with the Co-op
No one can make you feel inferior without your consent
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# 5
prender
Old 16-12-2009, 4:41 PM
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Thanks for the replies.

Although I can't believe someone saw through my attempt to covertly instigate a communist revolution!

Come the day, you'll be the first against the wall lisyloo!
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