Missing car insurance payment

Niowrtt

Take out a new policy and cancel that one. But check what the implications of cancelling are.
Those costs are insane. You're paying enough to insure a new driver on a high performance car not a 1.2 Punto. At a guess you should be paying £500-£600 per year, not nearly £2000.

Percy1983

I will defend my payday loan suggestion.

I will agree there is a bigger problem at play for this to happen in the first place and this needs addressing.

But the immediate problem is a DD bouncing which will attract charges from probably both your bank and your insurance company as well as risking you car insurance being cancelled and losing your no claims for the year so far. Or you can give some money to one of the loanshark companys (£80, 15 days will cost less than £20)and avoid the problems. I will stress this is only a viable option if this is a one off blip and you can pay the loan back and not need it again, if not its a very bad idea and don't do it.

As suggested is there anything you can sell/pawn or is there any friends/family who could bail you out.

Have you got an overdraft, can you get a short term one or extend a current one?

As you may guess my advice is do anything to stop it bouncing.

But I would ask the insurance company what you are insuring as something has gone very wrong there.

Anyway, a SOA is needed so we can't get to the bigger problem, I am going to get fitted for a radiation suit :rotfl:

BigCraigJohn

I have just read my esure policy.
The way it is set up is that they give me a loan for the full amount which in my case was £402 then charge 25% apr for you to repay them the loan.
It is written as if its given as credit.

"If you miss a payment we may use 3rd party collections to collect the arrears, we may also take legal action" then about how they can mark your credit history etc. Nothing about the insurance being canceled + it says they have to give 14 days before they cancel the cover and only if you break the agreement and even then I think they'd have to give good warning.
I imagine this is a general rule.

I do know though that a few months back I knew I was a bit short so cancelled the direct debit, they just took it again 2 weeks later.

Personally i'd block the direct debits then when you can afford to catch up do it.

xvickyx

Ok, so I am sorted with the payment, as I have the money to cover it in my bank account now, got a refund for something I brought --- phew!!!

OK so I seriousley need to check my insurance, as it is ridiculously high, even for a new driver?! It's only a 1.2 Punto for gods sake Lol, it has no modification etc, completly standard little 1.2 can't believe they are charging me this much, it's crazzzy! Even when I changed over my policy the person I was speaking to didnt understand why it went up?

woody24

Vicki

I have just done a "fake" confused.com quote for u to just double check the prices, and for a 24 year old driving a 1.2 fiat punto who has held her license for 2 months, i said it was a 2009 registration with no no claims discount, parked on the road and with no alarm or immobilisor on it .. i did everything as worst case scenario (new car, no no claims, parked on road etc) and the cheapest ANNUAL quote was £900 with Admiral and £1000 with Elephant ... if i was you, I would give ur current insurer a ring and ask them how much it would cost to cancel ur premium and then i would take out a new policy immediately.

Remember, you can get ur prices down a little but making sure u claim the correct mileage per year, make ur excess slightly higher and try and insure a parent or someone older that has held their license for a number of years and has some no claims and no points ...

Even when I first passed my test when I was 18 (7 years ago) , my insurance was only £100 a month! And that was to drive a renault laguna 2.0l! lol

GOOD LUCK!

AllieBallie

xvickyx wrote: »

Ok, so I am sorted with the payment, as I have the money to cover it in my bank account now, got a refund for something I brought --- phew!!!

OK so I seriousley need to check my insurance, as it is ridiculously high, even for a new driver?! It's only a 1.2 Punto for gods sake Lol, it has no modification etc, completly standard little 1.2 can't believe they are charging me this much, it's crazzzy! Even when I changed over my policy the person I was speaking to didnt understand why it went up?

I'm glad you got the funds sorted out for this month

My insurance is only £41 a month and thats for me, my OH, I've no no claims bonus and it was my first policy in my own name, oh and im under 25 as well. I've got a courtesy car as an extra on my policy and roadside assistance as well. I'm insured through a big well known company so it's not even as if i went for the cheapest policy available through an unknown company. my car is a 1.6 so a bit more powerful than the punto so if I were you I'd definitely doing a shop around hope you get a fairer quote soon

Percy1983

Glad you got it sorted, now to sort out how it happened and stop it happening again.

Area does play a big part in car insurance, with my area and being male and am scum of the earth to insurance companies and even I think that quote is high.

xvickyx

Only 2 months left of my insurance and then have my 1 years no claims, so there is no point in me changing now.

I have already done "fake" quotes and have found some really good deals can't wait to have the extra money (which will be able £90) and pay of more debts

dancingfairy

woody24 wrote: »

try and insure a parent or someone older that has held their license for a number of years and has some no claims and no points ...

QUOTE]
isn't this called front loading or something? and illegal? or is that just where you make the other person the main driver and you an additional driver?
df

xvickyx

I am the main driver on my policy & I also have my dad & boyfreind on it aswell