Car Insurance Cancelled Question.

timethrow

Hello all,

First post so please be nice
I purchased a car and insurance in the beginning of July and cut a long story short the car broke down at the end of September and was decided it was beyond economical repair (dodgy car bought, who knows) but I kept the car as I wanted to see how much I could get for it and so last month I managed to sell for a reasonable amount to a scrap company, all this time i still kept paying the insurance and have also found a suitable replacement car, however I wont be able to collect it until mid December as it is being used still, (the owner is getting a company car then)

Now the real problem, once I sold it, I notified my insurance company to let them know I no longer had it (just being honest) and I was told that i have until the 20th to get a replacement car added to the policy or I could cancel it by then otherwise the policy would be cancelled.

My real question is what do I do, because if my policy gets cancelled being 18 and having a cancelled insurance policy means I am virtually un-insurable, I can't say I have the car now and change over as a tracker box has to be fitted within 14 days so that will not work. If I cancel I would still be uninsurable as they ask Have you ever had a car insurance policy cancelled, or special terms imposed, which i would have (Yes ?) plus I have to pay the rest of my years premiums (£1200+).

So what do I do to stop being virtually uninsurable.

Thanks

Quentin

If they cancell the policy because you don't have a car, then that won't affect you getting insurance in future.

It won't be a notifiable cancellation. Your answer to the question on cancelled policies is "no".

timethrow

Thank you "Quentin" for your reply, I am not doubting you in anyway or trying to be rude, but Why would it be no when the question just says Have you ever had a insurance policy Cancelled, Voided or Special Terms imposed.

I would have thought yes as my policy was cancelled by the insurance company.

Thanks.

Quentin

They are looking for cancellations due to customers default in any way.

If they cancel yours it will be in line with the conditions, and no need to be disclosed, and they won't be putting you on a black list etc.

To put your mind at rest go to the horse's mouth and ask to speak to a manager at the insurance company

*Scarlett

Did you claim anything on the policy for the old car?

If not then you would usually be entitled to a refund for the remainder of the policy less any canx / admin fees.

The insurer may advise you that you can add a new car within their time frame if you wish to continue with the current policy.

If you don't get your new car til mid dec this may not work for you so you can ask the insurer to cancel the current policy.

There will almost certainly be fees but this type of cancellation does not have to be declared to future insurers.

Insurers want to know about policies that the insurer has cancelled not the policy holder eg for claims history, non disclosure, etc.

Just cancel the policy and if you have any doubts about future q's ring the company to clarify. But I can't see any issue at all with you cancelling a policy as you no longer have the car.

Unfortunatley you will probably lost any "no claims discount" accrued since July.

timethrow

*Scarlett wrote: »

Did you claim anything on the policy for the old car? Nope, No Claims Made

If not then you would usually be entitled to a refund for the remainder of the policy less any canx / admin fees.

The insurer may advise you that you can add a new car within their time frame if you wish to continue with the current policy.

If you don't get your new car til mid dec this may not work for you so you can ask the insurer to cancel the current policy.

There will almost certainly be fees but this type of cancellation does not have to be declared to future insurers.

Insurers want to know about policies that the insurer has cancelled not the policy holder eg for claims history, non disclosure, etc.

Just cancel the policy and if you have any doubts about future q's ring the company to clarify. But I can't see any issue at all with you cancelling a policy as you no longer have the car.

Unfortunatley you will probably lost any "no claims discount" accrued since July.

Thanks for that, No claims have been made, however if i cancel my policy mid term I believe I have to pay the rest of the years premiums then (Hastings Direct SmartMiles) as the policy was paid using instalments.

But the good bit is that I wont have to reveal this type of cancellation to any future insurance companies, if I cancel it myself, Yes. This type of cancellation will it be recorded on the CUE database (or whatever it is called) ??

Thanks

Quentin

You keep repeating the same question.

As you aren't happy with the replies then you need to get this answer from your insurer!

(Read up in your policy what happens if it's cancelled mid term regarding any refund.

Smithers37

timethrow, you're welcome to cancel an insurance policy whenever you want however be aware of cancellation fees etc.

It certainly won't stop you getting insurance in the future. The underwriting question that you refer to simply means, "Has an insurer had to cancel a policy (For example, non-payment, fraudulent activity, not complying with sending proof etc)?

Also CUE is simply a underwriting exchange database that shows any claims, you won't have ANY details on this database unless you've had a claim. Your details may still show up on the MID, however it's not something that would be checked unless there was good reason to.