Cancel car insurance and get new policy with the same company?

owitemisermusa

As the title says, can I do this? Get a new policy after cancelling the old with the same company? The old one is up for renewal and i would like to let it lapse and get a fresh one as a new customer.
Legal? Allowed?
Thanks.

atro1

Worked for me with Morethan. Much cheaper and of course quidco!!

McKneff

Dont just let it lapse, actually tell them that you dont want to renew it (in writing) sometimes policy holders are not aware that they are on automatic renewal.

owitemisermusa

Thanks atro, I'm thinking of doing this with my current insurer. I'll be moving home and changing my car next year (my insurer charges £26 for each as I'll be doing them at separate times) so I'm thinking of getting cashback to offset these charges!

Do all insurers allow this?

Quentin

atro1 wrote: »

Worked for me with Morethan. Much cheaper and of course quidco!!

There is a message regarding this on the morethan page:

Please note that if you are already a MORE TH>N policy holder or have cancelled a MORE TH>N insurance policy you may not purchase a new / second policy through Quidco.

So if the casback transaction fails for any reason you may have a problem.

owitemisermusa

Called them to get a fresh quote because of changes to mileage and I wanted to protect the no-claims discount. Staying with them works out £15 cheaper. It's just the 'admin fees' that are the potential headache in the near future.

Anybody bartered with their insurance company using cashback sites as key argument?

jamesdrew

If you cancel your policy or let it lapse, you can go to the same insurer and get a new policy as "new business". Some insurers apply different logic to such scenarios but it can and does work . . .

owitemisermusa

Quentin wrote: »

So if the casback transaction fails for any reason you may have a problem.

Good point. It's not MoreThan though.
I'm banking on the fact that if things don't work out, I'd have lost only about £15.

eschaton

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owitemisermusa

Hi guys,
Cancelled quickly and continued the hunt for better quotes. Decided that the best option was to rejoin the same company via a cashback site.

As usual with going via cashback sites, the new quote was a little higher but I factored this in.

Left it late, by which time my car was one year older, and the quote I got 2 days before cover expired was much higher than anticipated making it not worth the hassle.

Here's the rub, I called to renew and ended up getting a lower premium than my earlier renewal notice!! I practically argued with the rep asking if he was sure.

Just got my renewal confirmation and indeed everything seems fine, they have simply applied a further discount that I was due! I wonder why they didn't take that into account with the first renewal quote?

Just thought to update the good folk of MSE.
Thanks for your help guys.

Astaroth

Not all insurers "allow" it but to be honest, most insurers IT systems are too archaic to spot it online and so they do allow it to happen.

Some will not payout via affiliates and therefore not to cashback sites.

Remember however that yo do become a new customer again and so lose any benefits of being with them for X years. Most insurers the benefits are minimal but they do exist; with a past employer mid term cancellation charges were massively more for people in their 1st year compared to subsequent.