car insurance can i cancel then take new policy with same provider?

fairihell

I currently have care insurance with tesco, it is up for renewal but it is cheaper to take it from them as a new customer - can i cancel the current policy and take it out int he same name as a new policy?

thanks

Quentin

Yes .

If you decide to do this, don't "cancel" your policy, but tell them you want it to "lapse". (Over zealous agants have been known to use "cancel" as an excuse to levy the cancellation fees.

loeeza

I would avoid that route. I was with E-car and my rewnewal came, I missed the rewnewal date and a few days before my insurance was to expire I went and got insurance thorugh a comparison site as a new customer. All happy and please was I.

A few days later Post arrived and I was sent another rewnewal premium letter asking for another £500.
In the end I ended up cancelling and having to pay the pro-data charges/ fees.

mancitychick

fairihell wrote: »

I currently have care insurance with tesco, it is up for renewal but it is cheaper to take it from them as a new customer - can i cancel the current policy and take it out int he same name as a new policy?

thanks

Yes, for the past 2 years I have done exactly this with my hubby's M&S car insurance.

property.advert

I would first ask them to match or better the quote you get as a new customer. Much simpler if they can do it that way.

chunkychocky

property.advert wrote: »

I would first ask them to match or better the quote you get as a new customer. Much simpler if they can do it that way.

In my experience they won't do this, and they actually prefer it if you allow the policy to lapse and then take out a new policy. Just be cautious in case the policy terms have deteriorated. I had a very good policy with RAC for several years and when DH looked at taking out a new policy the terms were much worse (re courtesy car if needed etc) so although cheaper it was a much inferior policy. I asked them about it and they said that only existing customers on policies with those terms could continue with them.

InsideInsurance

I'd ask about matching themselves first before talking about lapsing the policy. Whilst loyality doesnt count for much it does count for a little in claims terms and a claim in the first couple of weeks/ months is normally considered a fraud indicator. Obviously things would be resolved in the end but if you can avoid the need for delays Id do it.

ROY47

had this with tesco home insurance
renewal was £420
online quote as new customer £280 for exactly the same cover
rang them ,gave quote number ,they matched the £280 quote