Can i suspend my car insurance?

tizzzr

I have had third party car insurance with Direct Line for 10 years with full no claims bonus so my monthly installment is only £11. I am considering selling my car (worth very little) and purchase a new one in a year or two. Can i suspend my insurance, if i cant should i just keep paying it? I'm concerned that if i cancel my policy it will be considerably more expensive when i need cover again in a year or two.

glider3560

It is very unlikely that you would be able to suspend a policy for that long.

When is your annual renewal? You may be charged a cancellation fee if you cancel before this date.

Paying two or three years premiums is, in my opinion, stupid when you could be paying nothing and saving the £260 to go towards your next insurance/car.

laurel7172

It says here:

https://forums.moneysavingexpert.com/discussion/778095

that a no claims discount is valid for two years. But the best thing to do is ring Direct Line and ask.

Quote

The premium in one or two years time will be the premium in one or two years time. Suspending your policy (whatever that actually means) won't make a jot of difference.

You either have a vehicle to insure or you don't. Sell the vehicle and cancel the policy. It's as simple as that.