*Motor insurance refunds - help please*

CharleneUK

Now that I've got a new car, I need to sell my old one pretty sharpish, and called my insurers to see if I could get a refund on the remainder of my insurance, just over two months left on it.

They told me no, because I paid via credit card, but then she said she was new and would get her supervisor to call me back. Needless to say, no one has called back, is she right?

Astaroth

Other than in the first 14 days of a policy you have no automatic right of cancellation (in the same way that you wouldnt get a refund for a 3 week holiday if you decided that you wanted to go home after 2 weeks simply because you felt like it) however most insurers will allow you to cancel after this period as long as you are claim free but will charge a cancellation fee for doing it - you will need to check the terms and conditions.

Generally it is better if you only have a short time left on the policy and need insurance on a new vehicle to simply do a change of vehicle - you will possibly have to pay an admin fee for this and if it is a higher risk car an additional premium, if it is a lower risk car and the premium goes down more than the admin fee you should get a refund for it. This way you will get a full years extra no claims discount (if you are claim free) when the policy ends and you can then shop around.

astonsmummy

You wont get much back if there is only 2 months left to run, i have had mine for 2 months and will only get back 60% of what i paid, your best bet is to call back and speak to someone as all companies are different x

CharleneUK

Thanks for both replies.

I was going to do a transfer, but we decided to put the car in hubby's name as he has 4 years NCB whereas I have 3.

I think I will just wait till it runs out, then sell it.

Thanks again.