Car insurance after a claim

dette1510

I have recently renewed my car insurance (1/5/13) and paid it in full. on the 14/5/13 a van crashed into the back of my car and its almost certainly a write off. My question is if I do not buy another car will I be entitled to the rest of the years premium back? Will there be any implications for doing this? Such as charges or will it affect future Insurance. I know they ask when you are searching for insurance about cancellations wonder whether it applies here. Also if I buy another car and the insurance is cheaper, am I entitled to a refund on the difference. Any advice will be appreciated.

Quentin

Assuming you claim off the third party and not your insurer this won't impact your policy.

If you cancel you will get a refund in line with the policy conditions for cancelling. There will be no implications for doing this, but you will pay the cancalletion fees.

But do check with your current insurer that any replacement car you decide on is acceptable to them, any reduction in premium would be refunded (after paying any policy amendment fees)

dette1510

Thankyou, Yes the third party has admitted full liability. I am just waiting to hear from my insurance as to what they will be giving me. I was looking for another car and seeing how much they cost to insure and it was coming up cheaper with other insurance companies. Might not be worth changing with the cost to cancel the policy.

Quentin

It seems that you have claimed off your own policy over this.

If that is the case then the advice posted above doesn't apply (as it assumed you had claimed off the third party.)

If you used your own policy then read up what it says happens following a write off. Some policies end once a write off happens.

There will be no premium refund if you cancel.

If the policy continues, then make sure they are prepared to cover the car you choose before buying it.