Changing car insurer mid-term?

Mac_Alba

Hi all,

Looking for some help. I've tried to have a look on previous posts but can't find a definitive answer, apologies if I've missed it.

I have just called my insurer (name of a city on the Mersey and a former monarch) to change my car. Using the same fully comp level of cover I have gone from the following:

2008 (58), BMW 1 Series (insurance group 11 I think), valued around £9k, currently doing 12000 miles a year, includes business cover.

to this.....

2002 (52), Mini Cooper (insurance group 8), valued around £3k, mileage will be 3000 a year, no business cover.

The car will be at the same address and kept on the same driveway yet my insurer have charged me an extra £68 on top of my existing premium!!! Forgive me if I've got this wrong but I assumed that going from a newer, more expensive car to a cheaper one, doing less mileage and removing a higher level of cover would be cheaper???

Given that a recent search (based on last years NCB) has given me quotes of half what I am currently paying Im basically thinking of changing my insurer. As I am currently half way through my annual term (paid by monthly instalments) I am looking for advice on what would be the potential pitfalls of cancelling and changing insurer?

Any advice would be most grateful


Thank you & Seasons Greetings


MA

Trebor16

It would cost you a lot more if you cancel midterm. You will lose the no claims bonus you have been building up for the current year and there will be the mid term cancellation fees.

How have you got the quote, was it over the phone or online? Have you been given a full breakdown of how they arrive at the extra cost?

Mac_Alba

Hi Trebor,

Thanks for your help.

I called them earlier to get the new quote, asked the guy on the phone how they can justify an increase based on the circumstances of the 'new' car to which he couldn't give me a proper response. He simply stated it was what the system was showing in front of him (Not his fault to be fair). The breakdown he discussed was simply that the change of vehicle was gonna cost £75 straight off, but the fact I was going from Business cover to SD&P had given me a saving of £7. It's almost as if the car and mileage make no difference, they simply add on what they like.

MA

scheming_gypsy

There are a lot of factors that make up car insurance and not just make and mileage.
Cost of repairs, security, performance, stealability, risk etc etc. Plus part of the £68 will also contain an admin fee for transferring it.

zumba-man

Mac-Alba, I've changed cars twice mid-term in the last 4 years. Both times they hit you with an extra charge, no logic doesn't matter if you are going from a higher to lower group; they know you don't have a choice. Just remember to get a good quote when the insurance is up.