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Car insurance
dot111
Posts: 316 Forumite
I am getting a new car on Friday, so will be changing my insurance. Do I have to stay with the same company or can I can I cancel and look round for the cheapest deal.
Thanks
Thanks
0
Comments
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If you cancel your current insurance you will no doubt have to pay an admin fee and only receive a refund of a proportion of your premium. I would have thought it would be cheaper to switch your car details on the policy and look around at renewal but you need to try some number crunching first. Do some online quotes and see what it will cost. You will also need to ask your current insurers what it will cost you to cancel.0
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Bossyboots is right, I had this last year and it would have been massively more to cancel and take out a new one. The admin fee cancelled out the refund, and more! I would find out what your fee is though, just in case. And there's nothing to stop you moving when the policy expires.0
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