Car Insurance when selling a car?

moneysavingscot_2

Hi all,

Basically I took out my insurance policy in December but am selling my current car at the end of the month to make way for a new model.

Does this void my insurance and therefore the policy ceases or do I have to pay cancellation charges?

im confused :eek:

Thanks

Quentin

If your new car is acceptable to your current insurer you can simply changeover cars. If the new car attracts a higher or lower premium you will get an adjustment.

If it's not acceptable then you will need to cancel the policy (there will be cancellation charges), and take out a new one with another insurer.

mikey72

You can get a quote to transfer the insurance to the new car. It may be cheaper to cancel your old insurance, and take out a new policy with someone else. Either way you must inform them when you no longer own it.

McKneff

All the cars Ive ever owned have transferred seamlessly, with the price adjusted accordingly.
Never had a problem with the Coop and I have at the moment a Corsa Design, 09 at about £220
and i think thats a competitive quote for fully comp and legal assistance.

dunstonh

Only one occasion has an insurer refused to insure a new car of mine and that was only because it had only just been released and was a very high group and the underwriters had neither updated for new models and didnt want to make a manual decision on such a high risk vehicle. So, they cancelled the insurance and refunded outstanding premium with no cancellation charge or penalty pro rata reduction. All the other times have been fine.

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Jane2005

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