Car insurance - gender ruling

lynxxy

Hi All,

Just wanted a bit of advice regarding car insurance.

I paid for my car insurance in full at the beginning of February. Now I have just bought a new car, and I get it on Friday, so will need to update my car insurance. Obviously this will incur a charge for admin...

I was wondering if I would be better to get a new car insurance quote (cheapest at this moment is £276) and cancel the old one because of the gender ruling coming in on the 21st December. I'd be paying the admin fee this week for changing the details (I'm with tesco and I think that'll be £15) and the price then may fluctuate because of the new vehicle plus then I would then be getting a new quote in a less than a couple of months time - which will definitely be more expensive than it is now...

What are your thoughts on this situation please?

Thanks
Lynxxy

InsideInsurance

Phone them, ask for a quote for doing the mid term adjustment as well as confirming the price of a cancellation and then do quotes online.

Obviously the challenge is that few people know what the true impact of the removal of gender is going to be once it is illegal. Once your in your 30s-60s range there is almost no difference in premiums, in some cases men can be lower and so it is only likely to impact the young or very old

Quentin

Find out the full cost of cancelling before making a decision.

And bear in mind you won't get any NCD for the current part year if you cancel, which may be significant if you don't have the max NCD already.

lynxxy

Thanks for that, i totally hadn't thought about the NCB thing.. I'm 27 next year, and have 7 years NCB, so hopefully it shouldn't impact me *too* much (fingers crossed).

I'll give insurance a ring tonight if I can & explain the situation...

Incidentally Quentin, what is the max NCB or does it vary from insurer to insurer? I've never heard of that before.

Quentin

lynxxy wrote: »

.....Incidentally Quentin, what is the max NCB or does it vary from insurer to insurer? I've never heard of that before.

Usually 5 years.

Some give a little more discount if you have more (but still may not be the cheapest).

Most deduct you from 5 years if you have a claim and the NCD is unprotected (eg. you have 10 years unprotected NCD, make one claim, then at renewal you will have 3 years)