Temporary Car Insurance - Not sold my car!

dbramley

Hi,
Can anyone help with the best way to insure my (now 2nd car) temporarily until it's sold?

I've had my new car for 3 weeks and next week the temp cover my existing insurance company provide runs out - and I've not sold my old car.

I've had a look at the companies that offer temporary cover and they seem to want £700+ for 20 days insurance. I'm thinking I would be better off taking out a yearly policy with a normal insurer, paying monthly, cancelling when I sell.

Would this work or will I get stung with fee's?

Cheers

neilmcl

dbramley wrote: »

I'm thinking I would be better off taking out a yearly policy with a normal insurer, paying monthly, cancelling when I sell.

IMHO this is probably the cheapest way to do this now. The only fee you should encounter is a "reasonable" admin fee, should be no more than around £50.

InsideInsurance

The other option is adding it to your existing policy as a Temporary Additional Vehicle.

If you do look at a new annual policy remember that you cannot use the same NCD on 2 separate policies at the same time!

forgotmyname

Maybe more cost effective to sell to a dealer ?

neilmcl

InsideInsurance wrote: »

The other option is adding it to your existing policy as a Temporary Additional Vehicle.

If you do look at a new annual policy remember that you cannot use the same NCD on 2 separate policies at the same time!

The problem is most insurers now are taking advantage of the new regs and charging a fair bit for this type of addition, it can be just as expensive as some of the specialist temporary insurance out there.

As ever it seems that a good idea, badly implemented into law hits the law abiding citizens the most.

dbramley

forgotmyname wrote: »

Maybe more cost effective to sell to a dealer ?

I tried that last weekend - it seems dealers don't want petrol cars as they are just not selling

They refused point blank, without even looking at my car as soon as I said it was Petrol..

I've also knocked a considerable amount off my asking price so now the car is an absolute bargain for someone, fingers crossed that does the trick.

dbramley

InsideInsurance wrote: »

The other option is adding it to your existing policy as a Temporary Additional Vehicle.

If you do look at a new annual policy remember that you cannot use the same NCD on 2 separate policies at the same time!

Thanks - it was on my existing policy as a temp vehicle but they would only do it for a couple of weeks which is now about to run out.

I didnt think about the NCD on the two policies - that will no doubt whack my premium up a fair bit!

sadie22

what car are you selling , where are u advterising it, give us more info and maybe we all can give you advise on helping you sell it quicker.
im looking for an red or black automatic, aygo, peugoet 106, citroen c1 .

Joe_Horner

An annual policy and then cancel COULD end up unexpectedly expensive. A lot of insurers will convert the time on cover to short-term rates if you do this because they know people do it, so you'll end up no better off.

Have you looked at the monthly "PAYG" policies that some of the temp specialists now offer? You pay it a month at a time at a higher rate than annual (but lower than daily) and there's no penalty for cancelling at the end of a paid-for month.

neilmcl

Joe_Horner wrote: »

An annual policy and then cancel COULD end up unexpectedly expensive. A lot of insurers will convert the time on cover to short-term rates if you do this because they know people do it, so you'll end up no better off.

My earlier suggestion was to cancel the policy within the standard 14 days cooling off period where this sort of thing wouldn't happen.

InsideInsurance

They cannot change the rates but even if you cancel in the cooling off period they are entitled to charge for time on cover and also cancellation fees (FOS accepts up to £50 as reasonable but you can find there are multiple parties involved and so multiple fees)