This is going to seem like a really stupid quetion...

the_insider

I have been driving for a year and still have my first car. Please forgive me if this is a stupid question but I can't find any information about it anywhere. My insurance is due for renewal in January and I don't think my car is going to survive much longer than that, but I'm hoping to get another 3 months out of it. If I renew my policy in January and then buy a new car in, say, April, what happens to the existing policy?
If I chose to go with a different insurance provider would I have to continue paying the policy on the old car?
Any advice would be great thanks!

Rossy.

You'd get a penalty if you leave early i believe. I've never left an insurer part way through a policy so i have no idea.

What you could do though is continue as you are. If your car blows up and you get a new car just amend the policy. It'll either increase or decrease the policy.

Do you pay all up front or monthly direct debit ?

the_insider

I paid this year up front but it's going to be direct debit from renewal. Does it make a difference?
I didn't know you could amend the policy to change the car that's covered, I might have a word with them about it.

JQ.

You would just put the new car on your existing policy. This could mean you get a rebate (unlikely) or they could ask you for a bit more cash if the new car has a different risk profile. You don't need to get a new policy, unless you planning to swap a 1litre Micra for a modified Imprezza running 450bhp, in which case your existing insurer may not be able to insure the Imprezza.

Lirin

What car are you driving?

Sagz_2

I've usually just changed the car details on my existing policy as it worked out cheaper than ending and going with a different insurance company.

the_insider

It's an 11 year old Focus, we're looking to get something more like 4-5 years old when it gives up the ghost, so I think it will be more to insure. I've had a look at some quotes and it's going to be about twice what I paid this year for something newer!!

newbie007_2

You just tell insurer when you got another car and insurance will continue, + admin fee, + - difference of risk profile of new car.

Why are you renewing with same insurer? are they cheaper than others? I change insurer each year as it's always cheaper to do so.

Quentin

One thing to look out for:

Your insurer isn't obliged to offer cover on any car you want to change to (eg. you might buy a model they don't ever take on/an import they don't do/be too young or inexperienced in their eyes for the new car etc).

In those circs you have no choice but to cancel and move elsewhere.

the_insider

newbie007 wrote: »

You just tell insurer when you got another car and insurance will continue, + admin fee, + - difference of risk profile of new car.

Why are you renewing with same insurer? are they cheaper than others? I change insurer each year as it's always cheaper to do so.

I've not had my quote through yet for renewal but even if I went to another provider I would face the same issue if I got a new car....

newbie007_2

Ok once the time is near changing car ask insurer what will the difference of premium will be if you change, this will give you an idea whether to buy the car you're after or seek a lower premium car.