paying premiums, but no car???????????

rabialiones

hiya,
my car was written off after an accident. legal team are dealing with it {had legal cover thru insurers} as someone reversed into my vehicle.
should i be able to cancel my policy as i do not have a car or do i have to continue making payments for rest of year, although i do not have the car in my possesion. {it was sold on}.
claim is still ongoing. legal team have supplied me with a hire car.

savvy

As I understand it, you can cancel your policy, but there may be a penalty for doing so, and it may be that you lose the hire car through your insurance, and may have to fund that yourself. It depends on your insurance poilcy, obviously the best way to find out is to contact them. HTH

robnye

most policies require you to keep paying the premium in the case of your car being written off...

once the insurance company have finished the claim, they will deduct the remaining instalments from the compensation figure they send to you....

or at least thats what happened to me a couple of years back....

savvy

Aaah I guess it DOES depend on insurance companies, my car was written off by an idiot in 2001, and I cancelled the insurance and got a refund, then got the cost of the car back seperately, then received my monies through Claims Direct after that.

Savvy_Sue

Our experience was that we didn't get a refund, but when we replaced the car a few weeks later we just picked up where the old policy left off and it ran for the remainder of the insurance year. But savvy is right, if you cancel the policy - supposing that's a possibility - they're hardly going to carry on paying for your car hire, now are they?

Curry_Queen

When I had a car written off (not my fault!) a few years back I had to settle up the insurance policy in full before they would even consider my claim (I'd been paying for it monthly). I can't remember now if any part of it was refunded once the claim was settled, but they did pay me the full amount of the car's value which was more than I'd actually paid for it

Paul_Varjak

I think you have to keep paying at the moment, especially as you have a hire car. If my memory serves me correctly, when the claim is settled you have too pay the remaining part of the current year's insurance (they do this by deducting it from the claim value).

However, if you then get another car I think you can use whatever time is left on the policy to insure any replacement car (with suitable adjstment to premium). I do not think you can get a refund.