Car insurance newbie

Kelz

Hi all,

I could do with some car insurance help as it's nearly my first full year of driving and basically I'm not sure when I renew or look for better quotes.

I insured my car as a learner on 23 April last year for £70 a month and on passing in July had to pay £176 and that has continued to be my monthly payment.

I apologise if I sound daft i know it ends on 23 April but do they contact me first with a new quote or do I just look for new and stop payments.

Sorry if these are obvious questions but I have no one to ask.

Thanks for Reading

Kelz

gregd_3

They will send you a renewal notice with your next years premium but at the price you are paying look about for new quotes. It usually comes through about 3 weeks before your policy expires.

Keep handy though your No Claims Bonus that your Insurer sends to you as you will need this as proof to send to a new insurer should you decide to change.

Kelz

Thankyou for your quick reply, I'll keep an eye out for the post then. They told me it would reduce significantly after my first year so I shall wait and see and then check the comparison sites, I'm hoping I can drop it a fair bit as It is soo much to pay, I understand why but hope now I've got through the first year safely my purse will feel the benefit.

Kelz

Quentin

Check whether or not your policy will "auto renew".

If so, you have to inform your insurer before the renewal date that you don't want to renew (assuming you find a better deal elsewhere).

(Just stopping the monthly payments isn't enough to stop them renewing)

lisyloo

They told me it would reduce significantly after my first year

This is traditionally true. However for 2010 premiums went up on average 30% and the icnrease is probably higher for riskier (include inexperienced) drivers. Sorry, but it's better if you are prepared.
Some tips.

1) Don't look more than 1 month ahead as quotes are generally valid for 1 month.
2) Don't wait for your renewal notice. Either an awful lot get lost in the post or some companies cynically don't send in the hope you forget and then they can auto-renew.
3) Don't forget to lapse your old policy after year 1 as it's probably on auto-renew if you chose to go elsewhere. I recommend a letter by recorded delivery (extra 74p). An awful lot of phone calls get "lost" and then people have to pay cancelltaion fees. Hopefully your insurer isn't like that, but you need to be careful. Be careful in your wording. Cancellation usually means ending it imminently with fees attached, lapsing means it simply stops when it runs out at the end of the year.
4) If you use a comparison site use a false phone number and email otherwise you'll get hassle.

Kelz

Thankyou for replying,

I will give them a ring towards the end of this month and ask about auto renew, I will be looking around to make sure I get the best deal, when I actually passed I found one cheaper quote but it would have required a largish up front payment so I chose to continue with them so I could gain a full years no claim.

I have looked tentatively and am def getting cheaper quotes and from what I'm paying now any saving will put a smile on my face. I waited a long time to pay for lessons and the luxury of a car and want to keep it all 'proper' hence my trying to make sure I learn about insurance and renewals and I'm grateful for your replies.

Kelz