Temporary Car Insurance (1 month)

simon_blay

Evening.

My policy runs out on 18th December and I will just need a month of cover until mid Jan until my company car arrives. I have checked numerous short term cover sites and they are asking for £250+ for 28 days! I'm 28 with some no claims... is there a cheaper way of doing things?!

Cheers

Just_Some_Guy

Not really I'm afraid. For an annual policy about 50% of the premium gets spent on paying claims and the other 50% on the insurer's running costs. Most running costs are incurred in the first month of the policy's life (paying the guy at the end of the phone to sell it to you, sending out policy booklets, putting files on the website, paying go compare's commissions, paying the beancounter to make sure the numbers add up etc) so when you buy a 1 month policy the insurer gets 8% of the risk of an accident and 75% of the running costs compared to an annual policy. The long and short of it is that one month's cover is really expensive man.

If (big if) your current insurer's terms and conditions aren't too evil it might be worth renewing for the full year and then cancelling one month in.