Renewing insurance while waiting for new car

regency_man

I just confirmed an order for a new BMW but unfortunately it had to be a factory build and isn't going on the production line until May. In the meantime the insurance on my current car expires on 22nd March.

What is the best thing to do here to both minimise my costs and preserve as much of my no-claims bonus as possible?

Should I get temporary insurance on my current car to cover April/May.
OR
Sign up for a whole year renewal and be prepared to cancel it in May.
OR
Look for the best quotes on both old and new car and go with an insurer who has good rates on both, then just 'change' my car with my new insurer.

Will any of those methods preserve my NCD renewal date, or am I always going to lose out on a couple of months NCD??

Thanks!!

regency_man

Quick update - eSure have quoted £461 for my renewal, the cheapest out there, and I redid the quote for my new car with exactly the same details and it came out at £471 (pretty incredible given the new car is worth £37,000 more than the old one).

This would seem the easiest option then? Just go with eSure then ring up and change my car with them in May?

InsideInsurance

Check what their admin fee is for doing the change of vehicle but this would seem a sensible option subject to what others are coming in at.

regency_man wrote: »

Look for the best quotes on both old and new car and go with an insurer who has good rates on both, then just 'change' my car with my new insurer.

This can be fine, check their admin fee. Be a little careful about brokers though as you are locked into both the broker and the insurer and so when you get your second quote you need to ensure both are with the same underwriter otherwise when you do your MTA to change vehicle the new price may be very different to the original

regency_man wrote: »

Will any of those methods preserve my NCD renewal date, or am I always going to lose out on a couple of months NCD??

Buying one policy and doing a mid term adjustment to change the vehicle on cover will preserve the NCD earned before your new car arrives