Confused about car insurance when p/x old car!

neiltc13

I've just ordered a new car and I go to collect it from the dealer on 11th February, and I will be part exchanging my current car. My current insurance policy expires on 20th February. The dealer has also given me the option of 7 days of free insurance.

I'm confused about how to manage this situation to ensure that I am covered for driving my current car until I pick up the new one, and that my no claims bonus doesn't end up less than it might be.

I think I have 2 options:

1) Call current insurance provider and ask them to insure the new car from 11th February.

2) Take 7 days free insurance from dealer and keep current insurance policy as it is. Once I've got the new car, call my current provider and ask to cancel.

However, if I pick option 1, then surely I won't be covered for driving my current car to the dealer to pick up the new one. If I pick option 2 then will I lose the no claims discount from my current insurer that I am due to earn as of 20th February?

Anyone able to help?

Quentin

Take option 2.

But don't cancel your current policy (you won't get any NCD for this year, and will get charged cancellation fees).

You will be legal to drive home that day in your new car, then swap your cars over on your own policy.

Then either renew or start a new policy to coincide with your current one ending (20/2). That way your NCD is awarded for the year to 20/2/12

Notmyrealname

I've bought a new car and will be picking it up on Wednesday. Likewise I was offered the 7 day insurance which I've taken and starting the day prior to collection so they can tax it. I will then be doing as Quentin advised.

neiltc13

Ah, so I should swap the cars over on my own policy from the date the 7 day insurance expires?

That would mean that my old policy will have my new car on it for all of 2 days!

I've made a mess of this so far by calling my insurance company to add the new car on the 11th, but then realised my mistake and called them to change it back. Hope that doesn't have any ill-effects

macman

Is the 'free' 7 day cover fully comp? Does it offer equivalent cover to your existing policy?

neiltc13

macman wrote: »

Is the 'free' 7 day cover fully comp? Does it offer equivalent cover to your existing policy?

Yes both of them are roughly the same cover. I just want to make sure I'm covered at all times for the car I'm driving, and that I am not going to lose my no claims bonus.

BargainGalore

I took option two had Norwich Union insurance for 7 days, I made sure new insurance started when old one ended. I didnt renewal with same company no point when it costs more than take a new policy else where plus I got cashback

neiltc13

Anyone have any opinions on what to do with the 7 day complimentary insurance? Cancel it immediately after I get home with the new car, or cancel it after it runs out?

If I don't cancel it immediately, then I will still be insured on my old car. Not sure if that is right since I won't own it.

So confusing!

luci

I always change the vehicle details with the current insurer for the date of the handover. They usually cover both the old and new vehicles on the changeover date, but it would be best to confirm this with your insurer.

Whatever you do, don't "cancel" your insurance or you will lose this year's NCD. You just need to lapse it at the end of the term if you are changing insurers.

marlot

I've always taken the 7-day insurance. Its less paperwork to get the new car registered, and by leaving the change-over call to the insurance company until after you have the new car, its a lot easier to handle if there's a defect or delay in the new car.