Transfer car insurance to new car

tiony

Following full settlement after Fire Damage I tried to transfer insurance (10 months left) to new vehicle renault scenic - but broker said have to take new policy out and still pay for current 1 as it is people carrier - not able to afford 2 premiums - can anybody advise please???

Horseunderwater

Personally I'd ditch that broker straight off. They are wrong. Once you have had a final settlement on a claim and there is nothing left to pay up or settle. That's it. Cancel policy and take out another. Ring the actual insurer - not broker who should be able to confirm that.

tiony

Thanks for info - I have contacted company (Highway) just waiting 4 reply as closed over w/end - I pay monthly, if I cancel I have to pay balance so broker says?

bryanb

You do have to pay the full 12 months on your old policy, but I'd expect that to have been deducted from your settlement. If not then the policy should be in force and therefore transferable.

tiony

Only excess deducted - broker says they not able to transfer dont understand as scenic only group 13 my other car group 29???

Quentin

The problem may be that it is your choice of vehicle - ie your current insurer doesn't offer cover for the model you now want insuring.

If you end up having to cancel your policy, then because of the claim you will have to still pay the remainder of the year's premium.

tiony

I'm happy to pay my current policy but think it so unfair I have to pay for another policy when it's a lower group?

Caz3121

If you take a policy and pay it all up front then you want to cancel part way through you will get a refund (less fee) if you have not made a claim but no refund if you did.
As you have chosen to pay your annual policy monthly the same applies. If you had wanted to cancel it or move it and there had been no claim it would have likely been ok. As you have made a claim you are still owe them for the remainder of the year. You did not have a monthly policy, you had an annual one that you chose to pay monthly so you will need to pay the remaining balance

Quentin

tiony wrote: »

I'm happy to pay my current policy but think it so unfair I have to pay for another policy when it's a lower group?

(Assuming that your new car is unnacceptable to your insurer), then it's not "unfair"! They agreed to cover the car you took to them originally for the policy, and it is you that now wants to change the goalposts!

Maybe your broker put you with a specialist (people carrier) underwriter, thereby getting a better premium - but you do need to find out from your broker the reason your insurer won't take your new car (or direct from the insurer if you can speak to them), just to be certain you are getting the correct info!

tiony

My current policy was for a VW Golf I now have a scenic as I have just had twins and need extra room! did not know it would not be transferable!!