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No claims & mid-year insurer change
JMFD
Posts: 75 Forumite
Hi all,
I'm a relatively new driver, seeking a bit of advice! 5 months into my previous (first) car insurence policy, I changed to a new insurer for it being significantly cheaper to do so after having to add business insurence to my policy. I am currently 11 months into my new policy and it looks like my car maintenance repairs (very old car, yet another suspension replacement) are going to make it more economical to get a new car rather than get it repaired again.
The problem I can see with doing so is that I only have 11 months no claims from my current insurer, who didn't take into account the >1year no claims from my earlier policy, meaning I don't think I can claim a years no claims when setting up a new policy for a new car?
Options:
1) Live with the wonky suspension another month and hope it doesnt die entirely. MOT is not until August. However, likely to lower sale value the closer it gets to the MOT
2) Change car on current insurence for a month (apparently you can do that?) before moving to a new policy when it has finished (and I have the year no claims). Given that my insurer charges a 1month equivalent cancelation fee, that might be a good option!
3) Get a short-term insurence on the new car for a month, keep old car in garage. When the month is up, sell old car, get new policy on new car.
4)??????
Help!
I'm a relatively new driver, seeking a bit of advice! 5 months into my previous (first) car insurence policy, I changed to a new insurer for it being significantly cheaper to do so after having to add business insurence to my policy. I am currently 11 months into my new policy and it looks like my car maintenance repairs (very old car, yet another suspension replacement) are going to make it more economical to get a new car rather than get it repaired again.
The problem I can see with doing so is that I only have 11 months no claims from my current insurer, who didn't take into account the >1year no claims from my earlier policy, meaning I don't think I can claim a years no claims when setting up a new policy for a new car?
Options:
1) Live with the wonky suspension another month and hope it doesnt die entirely. MOT is not until August. However, likely to lower sale value the closer it gets to the MOT
2) Change car on current insurence for a month (apparently you can do that?) before moving to a new policy when it has finished (and I have the year no claims). Given that my insurer charges a 1month equivalent cancelation fee, that might be a good option!
3) Get a short-term insurence on the new car for a month, keep old car in garage. When the month is up, sell old car, get new policy on new car.
4)??????
Help!
0
Comments
-
Your cheapest option will be to coincide the change of car with your policy renewal.
That will mean no extra policy change admin fee to pay.
You won't have any NCB until your current policy reaches its anniversary. But will be able to get 1 year from the renewal date.0 -
Thanks (time to hope the car doesnt die in the next month)!
How exact do I have to be? I know that I will not be insured to drive the new car until I have a new policy (as the 3rd party cover on my current policy for driving another car only extends to cars you are not the main owner of), and I will not have insurence on the old car after my current insurence has run out. Given the logistical impossibility of selling my old car and getting a new one at midnight of the day my current policy ends, what should I be doing!
Very new to all of this!0
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