Insurance rebate on switching cars?

Season4

Hi,

I have to pay my insurance in a couple of days but I am planning on selling the car very soon and buying a much lower insurance group car and I have no idea how it works or what to expect.

Would I get money back? What should I expect to get/happen?

Any and all help will be much appreciated.

Thank you,
J

Quentin

You need to check that your new car will be acceptable to your chosen insurer when you come to swap cars (if not you will need to cancel the policy and buy a brand new one).

Then when you are ready to swap inform your insurer of the new car details, and arrange a date and time for the swap.

Any premium adjustment (up or down) will either be paid or refunded, though also expect an admin fee for making the change.

mikey72

You'll probably find any premium rebate will be more than offset by an increase as you have a higher risk with a car you're not familiar with. No mid change of insurance is ever treated favourably. (Try getting a quote for the new car from the same insurer before you phone, so you have an idea what the real cost should be)

forgotmyname

Just because a car is in a lower group does not mean its going to be cheaper to insure. It may actually cost more.

And swapping mid term on the policy may attract an admin charge in excess of any saving you may make.

Swapping cars to save money is flawed in many cases it seems.

Season4

Thank you for the replies.

It seems like the only thing I can be sure of is that the new car will use less fuel but for the rest its all in the lap of the gods!!

Ah well never mind but thanks again.

J