Car Insurance - What To Do?

RoxRoxBling

Finally getting rid of my batmobile!!!!

On the 10th, I'll pick up my new car - comes with 7 days free insurance. Therefore from the 17th, I'll need a new policy.

Now normally I would simply change my current car's insurance from my current car to my new car. However my current car insurance expires on the 20th, so is it worth it for 4 days. i.e, there may be a admin fee for changing the vechicle, and I may have to pay extra as the new car is a bit of a upgrade compared to my current car.

So which of the following is the best option:
A) Let my current insurance run out and start a new policy for the new car on the 17th
Ask to freeze (if the insurance company does that) my current insurance over the free 7 days insurance, then change the details of the insurance to my new car for the remaining 11 days.

Any advice/suggestions welcome.

InsideInsurance

Speak to your current insurers and see what options you have with them

The risk of not cancelling it and just letting it run is if the buyer doesnt insurer it and its involved in an accident then your insurers would still be the RTA insurers with right to recover their outlay from the driver at the time or you!

Assuming your selling it to the motor trader and he isnt turning it round straight away evidently the risks are low but you dont want an insurer chasing your for a hundred grand if the worst happens

RoxRoxBling

InsideInsurance wrote: »

Speak to your current insurers and see what options you have with them

The risk of not cancelling it and just letting it run is if the buyer doesnt insurer it and its involved in an accident then your insurers would still be the RTA insurers with right to recover their outlay from the driver at the time or you!

Assuming your selling it to the motor trader and he isnt turning it round straight away evidently the risks are low but you dont want an insurer chasing your for a hundred grand if the worst happens

I didn't realise that if someone else is driving the car my insurance would be affected?

dacouch

Why don't you pick the new car up on the 13th or 14th whichever takes you upto your renewal date

RoxRoxBling

dacouch wrote: »

Why don't you pick the new car up on the 13th or 14th whichever takes you upto your renewal date

Because my current car is on it's way out - I know would have been easier that way! Plus the ideal day is a weekend, and they don't 'do' weekends!!

InsideInsurance

RoxRoxBling wrote: »

I didn't realise that if someone else is driving the car my insurance would be affected?

If your insurance is still in force on the car and there is no other insurance in place then there is a risk your insurance would be considered the RTA insurers of the vehicle but as such they have legal and contractual rights of recovery from the driver and the policyholder (ie you)

BertTheRaccoon

InsideInsurance wrote: »

If your insurance is still in force on the car and there is no other insurance in place then there is a risk your insurance would be considered the RTA insurers of the vehicle but as such they have legal and contractual rights of recovery from the driver and the policyholder (ie you)

No I've had this before on a claim involving NIG where the original owner sold his car to his mate, forgot to cancel his insurance, but his plonker of a mate didn't botgher to insure it. Accident happened and so we proceeded against the insurer that came up on MID search.

Long & short of it was that becasue proof of sale and change of registered keeper could be shown, it ended up in the hands of the MIB who dealt with it.

InsideInsurance

Hence saying there is a risk rather than a definite.... have seen a case where there was a dispute over if the vehicle was "sold" or "lent"

BertTheRaccoon

InsideInsurance wrote: »

Hence saying there is a risk rather than a definite.... have seen a case where there was a dispute over if the vehicle was "sold" or "lent"

yes, good point

dacouch

InsideInsurance wrote: »

Hence saying there is a risk rather than a definite.... have seen a case where there was a dispute over if the vehicle was "sold" or "lent"

I've had motor traders get caught by this, it tends to hit the new part time traders.

They sell a ropey cheap car, issue a (Non carbonated receipt) to the person and then send the log book off. The DVLA don't receive the document from the trader, the buyer does not send theirs or it was sent by the trader, they don't insure the car and the gave a false name and / or address.

Seen the above happen a few times, the Insurers use tracing agents but often can't find the new owner.

I instill in my clients the importance of keeping good records, sending documents by recorded to dvla and copying ID from buyers. Some Motor Traders often need to get their fingers burned before they start doing things properly.

rs65

RoxRoxBling wrote: »

So which of the following is the best option:
A) Let my current insurance run out and start a new policy for the new car on the 17th
Ask to freeze (if the insurance company does that) my current insurance over the free 7 days insurance, then change the details of the insurance to my new car for the remaining 11 days.

Personally I would just change my existing policy from the 10th. I just view 7 day free cover as a way to tax the car.

As InsideInsurance says, speak to your current insurer. Until you know if there are admin fees for amending or cancelling then you don't know what to do. Some allow online changes without admin fee.