Over 25 discount

anandp

My son has his own car and as such is the primary insurance holder.
In February, he turned 25, which as we all know is the age at which insurance falls by some amount.

The issue is that he is 6 months into his policy. I have checked the details, and there is no charge to cancel so I am advising him to call and ask for the discount now, and if not given, cancel and re-apply.

Has anyone done this before?

AP

Gingham_Ribbon

I cancelled a car insurance policy mid year. I saved a lot of money on it, but lost that year's no claims bonus started from when I took out the new policy, in effect losing me 6 months of no claims. It was still worth it for me though. Just something to consider. (And he may be able to keep it if he uses the same company.

It's always worth haggling. If he gets a better deal with another insurer then phones his current insurer, telling them he is thinking of cancelling, they may offer him a better deal.

Also, some companies offer a further discount for paying by direct debit, but then there is a charge for using the direct debit. I took the discount then phoned back a couple of days later and explained that I could pay it all off in one lump sum and would I lose the discount? They told me I could pay the amount quoted, meaning I saved the direct debit premium but was still given the discount.

anandp

Thanks for the experience sharing - will phone Admiral tomorrow and see what they offer...

mancitychick

I have been told by a few insurance co's that insurance lowering at 25 is a myth. Excess might but not neccesarily the premium.

shelly

anandp wrote:

My son has his own car and as such is the primary insurance holder.
In February, he turned 25, which as we all know is the age at which insurance falls by some amount.

The issue is that he is 6 months into his policy. I have checked the details, and there is no charge to cancel so I am advising him to call and ask for the discount now, and if not given, cancel and re-apply.

Has anyone done this before?

AP

Personally I wouldn't bother as said before he will lose 6 months no claims also if he's paid policy upfront in full he won't get much of a refund. I agree with mancitychick about the age thing being a myth. I think it varies greatly depending on what car/bike you are insuring, how many yrs no claims you have etc etc.