Cancel Car Insurance, New Policy - Same Insurer (Lloyds TSB)?

Anon

I wonder if anyone knows before I go to the trouble. I switched to Lloyds TSB for insurance earlier this year as they were lower than my renewal, and I was supposed to get £80 cashback through going through Quidco. They were not the cheapest outright, but taking the £80 cashback into consideration they were.

Due to a technical hitch, the cashback did not track (I don't believe I was alone) - following an investigation by Quidco, cashback was refused as no trace was found. As you can imagine, I was annoyed, but have not done anything about it.

I noticed today that Lloyds TSB are now offering £120 cashback on policies taken out through Quidco (there is also a comment on there blog about the tracking problems now being resolved). I have followed the link from Quidco and have a quote which is the same as I took out (but of course if it goes to plan I would save £120 - minus perhaps any cancellation fee).

Can I cancel my existing Lloyds TSB policy and take out the same policy with them again online? Has anyone experience of this?

Many thanks

Anon

happyhunter

How long are you into your existing policy? IMO, I don't think it's worth the hassle. What if the new policy you are buying won't track again?

I bought mine via Quidco in March, and luckily it was tracked and paid out in June.

Just to add - next time if it didn't track within the 14 days cancellation period, you should cancel the policy without any penalties.

Anon

Thank you happyhunter - 5 months in and £120 is potentially worth the hassle. At the time I took out the policy (May) there was a problem tracking but I understand this has been resolved.

Has anyone else done this (cancelled policy part through and taken out a new one, particularly with the same insurer ... in my case Lloyds TSB).

Many thanks

Anon

anniecave

How would the no claims be treated? Would you lose a part year, would it be worth it?
Would the system let you do it? Most websites pick you up if you are a current or recently gone customer via email addresses, dates of birth etc and it can just mess up the tracking and the whole quoting process

Anon

anniecave wrote:

How would the no claims be treated? Would you lose a part year, would it be worth it?
Would the system let you do it? Most websites pick you up if you are a current or recently gone customer via email addresses, dates of birth etc and it can just mess up the tracking and the whole quoting process

I had 9 years or more with my previous insurer, Lloyds only have 5 or more as their top category, so I am not going to worry about 6 months as they did not include all on the policy anyway. An interesting question though - as I have had insurance for over 16 years and only "9 years or more" was on my previous policy, what can you use as evidence - the previous policy? Also I asked for them to return the original paperwork to prove I had 9 years or more but they have not done so (I originally sent a photocopy but they claimed this was not valid and it had to be original? If that is the case, they could return the paperwork once checked?).

I have been on their site and got through all the screens up to paying - on some (eg Halifax) it used to stop you entering any details once you put in your address and email, if I recall, as it recognised you as an existing customer. I therefore think that it may be technically possible, though not sure how they would take it if you cancelled and took out the same policy again on the same day?

£100+ is worth the effort I would think (on a premium of £290 for fully comprehensive, protected no claims, legal protection)?

Many thanks

Anon