Changing car insurance mid policy?

CookieCrisp

My ex's car insurance costs him £189.22 a month (1.6 focus 51plate)
He had 1 minor bump and then in the winter last year skidded on the rain and ice when a car pulled out of a side road and wrote the car off (renault scenic)

Am I the only person who finds this amount a month to be shocking?

Could he change mid policy to something cheaper? If so, how would he do this and what would happen to the current policy would he have to pay the rest up front? Would he have to pay another premium with a different company too?

Thanks

olly300

Car insurance is an annual policy.

The fact that you are paying monthly means you are paying a credit agreement. This means that a credit company linked to the insurer paid your annual policy and you are paying them back with interest. The interest rate is probably between 18-28%APR.

So if you want a cheaper policy pay for it in one go.

Oh and if you are mid-policy you will have to pay:
1. A cancellation charge of up to £50
2. Extra charges to cover the time you had the policy up to.

You will also lose out on most of this years build up of NCB.

Put the date two weeks before the policy is up in your diary then:
1. Shop around to see if you can get a cheaper quote.
2. Pay the premium in one go

Quentin

You can cancel a policy at any time subject to the policy conditions (but if any claim has been made during the current policy year, then although you can cancel, you would still have to pay the full premium for the year).

If it is cost effective to move elsewhere, and no claims have been made this year, bear in mind that cancelling mid term will mean no NCD is earned for the part year, and that there will be cancellation charges to pay - get these confirmed in writing before actually cancelling.

dunstonh

Am I the only person who finds this amount a month to be shocking?

Without any context, it is hard to say. However, seeing as he has had two recent claims and one of which was a write off, then it does seem fair enough.

Could he change mid policy to something cheaper?

Not normally. Costs of breaking the contract tend to make it unlikely.

scheming_gypsy

It's hard to say whether it's shocking with the information you provided. He could be a 17 year old actor living in the roughest part of the UK with the highest car crimes, and this is his first car with 9 points on his license; in that case it'd be pretty cheap. Or he could be 72, passed his test at 17, has full NCD, no points and lives in the cheapest part of the UK for car insurance

If his insurance company has already paid then he'll need to pay the remainder of the policy when he moves.

CookieCrisp

He's 30 had a full licence since April 2010, both accidents happened while in another policy with kwikfit last year before this policy, he lives in cambridge, has no points, no ncb has a full time job etc and regularly has 4 children in the car etc (ours)
So its best to tell him to grin and bear the £189 till feb when the policy is up and then help him shop around for a cheaper quote?
Also, see I don't drive so really haven't a clue about car insurance etc but he has no claims this year so if that stays the same until the policy is up what are the chances of the policy being cheaper next time? Or does it not work like that?
Thanks very much

scheming_gypsy

if it was on another policy then the can look around and cancel this one.
Although! if he does find cheaper insurance make sure he considers the downside of changing. If he finds a policy that saves him £30 a month, will it be worth doing as he'll get a years NCD in February when this policy ends.

Quentin

Having a year's NCD will make next year's premium lower than they would be with no NCD - though whether or not that means they will be cheaper than this year's is anyone's guess!

keith1950

Would he have to pay another premium with a different company too?

What do you mean by this ?

The fact is, at present, he has no NCD, he has only held a full licence for 16 months , he has had two accidents , which he must disclose, which makes him a greater risk, has children in the car ( which are a distraction ) and premiums are going up.

Taking everything into account you will probably be lucky to keep your premium at it's present level, never mind reduce it !!

dunstonh

He's 30 had a full licence since April 2010, both accidents happened while in another policy with kwikfit last year before this policy, he lives in cambridge, has no points, no ncb has a full time job etc and regularly has 4 children in the car etc (ours)

One year of full licence works against him. Being 30 doesnt work against him. Having two accidents in one year, one being a write off works very much against him (especially as he has only had a full licence just over a year too - his track record is dire). The villages around cambridge would be cheap but costs would go up as you get more central within cambridge.

You dont say what his job is so it may or may not have an impact.