short term motor insurance policy

edited 30 November -1 at 1:00AM in Insurance & Life Assurance
5 replies 596 views
ioscorpioioscorpio Forumite
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edited 30 November -1 at 1:00AM in Insurance & Life Assurance
My company car goes back on Friday, if I buy a car in the short term until I get another co car, am I better in buying
1)a short term policy
2)trying to get a refund on an annual policy
3)pay an annual policy monthly and just stopping paying the direct debit, when I no longer need the car

Replies

  • AstarothAstaroth Forumite
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    1) These are fairly limited
    2) Viable option
    3) Could result in debt collectors/ CCJs as you still have to cancel the policy and pay the cancellation fee. As the policy had been cancelled for non-payment you would also have to declare this to all future insurers (of which the majority of mainstream insurers would then refuse cover)

    Option 4 is to get a policy and when you get your new vehicle just to do a change of vehicle on the policy and let it run to term. Typically there will be an admin fee for making the change but it will certainly be no more (and probably less) than the cancellation fee.
    All posts made are simply my own opinions and are neither professional advice nor the opinions of my employers
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  • radioaheadradioahead Forumite
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    Part of the Furniture Combo Breaker
    I'm a poor student (!) and I need to get my car on the road for 6 weeks for a placement. I don't think I can afford a full year's insurance and refund - but I've looked at short term insurance (Norwich Union offer 28 days max for £130) and I'm really not impressed. Are there any better short term options out there?
  • AstarothAstaroth Forumite
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    Some insurers do do a Pay As You Go option - an amount per mile collected every month - dont think there is a standing charge but not possitive as we dont do this.
    All posts made are simply my own opinions and are neither professional advice nor the opinions of my employers
    No Advertising or Links in Signatures by Site Rules - MSE Forum Team 2
  • radioaheadradioahead Forumite
    2 Posts
    Part of the Furniture Combo Breaker
    Good idea Astaroth. I've signed up for updates on the Norwich union PAYG offer. Apparently they're starting to roll out the service - they've bought about 40,000 of the black boxes this month.
    In the meantime I've contacted my previous insurers, Lloyds, who are happy to do a monthly premium, and they charge one month cancellation at anytime. Should work out at about £75 - not bad.
    Just need to get my car on the road now!
  • Bob63Bob63 Forumite
    1.3K Posts
    http://www.dayinsure.com - daily insurance from Norwich Union for £10.50. Covers any car/bike up to Group 14 or thereabouts. More if you want a higher group car. I used them once to get a day's cover on someone else's car and can recommend them for the simplicity of the transaction on their website.

    http://www.ecarinsurance.co.uk - Monthly pay-as-you-go car or bike insurance that also gives you a full year's no claims after just 8 months. I use these for my own bike and my Dad insures his car with them. You also get full at-home breakdown cover when you are insured with eCar/eBike.

    Mike
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