Car Insurance hiatus?

GRobinson

In a bit of an odd position at the moment. I usually pay my insurance annually but I'm looking to sell my car. I noticed an anomaly in my V5 so I've sent that off to the DVLA to get a replacement log but that could take up to four weeks to arrive and my insurance renewal date is 24 December. Paying annually will commit me to about £1,000-£1,200 for 2012.

I had a chat with my insurance organiser who mentioned they don't do short-term insurance and most of the companies they deal with will charge somewhere in the region of 30-40% of the total policy + £50 cancellation charge for early cancellation. When I shopped for short-term insurance, I received a quote for nearly £300 for a month's coverage, which is far from ideal.

Do you know if there's some way to commit to an annual policy but defer payments until you purchase a new car or alternatively go for a 3 month or six month policy? Or are there any providers who don't charge for early cancellation?

Thanks for any help .

G

vaio

the general rule on cancellation is pro-rata for time on cover plus an admin fee of up to £50, but that's direct from an insurance company, if you go through a broker (insurance organiser?) then the broker will want paying s well so that's another layer of charges to deal with.

If you are sure what car you are going to buy then I'd be inclined to shop around on the basis of that, deal direct with an insurance company and just transfer the insurance when you get the new car

forgotmyname

Phone all the insurance companies and ask them how much will it cost to cancel the policy 1 month or 2 months into it.

A company may charge £2000 for a year yet will only charge you 1/12 of the cost if you cancel inside 30 days with not
cancellation charges.

Issues to watch for and extras that need to be paid for in advance and non refundable, Plus the actual cancellation costs.