Car insurance cancellation

Zer0

Hi all just after a bit of advice,

I have just sold my car 6 weeks before my policy is due for renewal, my insurance is with Admiral and I have read there is a £45 cancellation fee.

Can I just let my insurance run out and just tell them I don't want to renew?

or

Do I have to contact them telling them I need to cancel, get hit with a £45 fee and lose my year of no claims I would have earned?

(Also I don't plan on buying another car to change the policy on to)

Thanks

Quentin

The danger in doing this is that should the new owner not insure the car and it is involved in any incident your policy could be used to pay out third party claims. (Which would go against you, not the new owner)

lisyloo

What Quentin says is correct.
Personally I think I might take the risk for 6 weeks as the chances are low, but that's very mcuh a personal decision.
You could also check on askmid.com (check your own vehicle for free) whether it's insured.

Quentin

lisyloo wrote: »

You could also check on askmid.com (check your own vehicle for free) whether it's insured.

As the OP has insurance in place, what would you expect askmid.com to show when he checks it there?

twig1_2

When the other party tries to insure it it will come up that you have running insurance won't it. We had a similar problem when we wanted to insure learner daughter and our insurance wouldn't insure her so we took insurance out for the same car with another insurance company . Took ages to sort it out and made to feel criminals by the new insurance company god knows why.

lisyloo

As the OP has insurance in place, what would you expect askmid.com to show when he checks it there?

Doh !! sorry.
I was thinking that it would show whether the other party had insured it but of course it won't.

vusys1

could you suspend the policy?

you would still pay for the policy but at renewal you would either get the credit if you renewed or the ncd if you lapsed at renewal

not sure how strict admiral are at allowing an extra years ncd when 6 weeks shy

Zer0

Thanks for the replys, I sold it to someone at work... so smaller risk of them being in accident hopefully.

Quentin

Zer0 wrote: »

Thanks for the replys, I sold it to someone at work... so smaller risk of them being in accident hopefully.

How come?

Unless you work for the Institute of Advanced Motorists?