This may seem a bit of a stupid question...

hgotsparkle

If I were to sell my car and didn't find a replacement until, say, 2 weeks later, what would I do with my insurance?
If I were to cancel the policy then I would lose my no claims built up (due to go to 1yr in july after losing 3yrs last year).

Paula_Smith

Phone the insurance company and ask them - they can probably put it on hold for a while, but it is down to each company/policy.

Foxy-Stoat_3

Either cancel it and take the financial loss after losing your NCD for that period and the high cancellation fees or do nothing until you find another car and transfer the insurance.

Obviously you could get unstuck if the person that buys your car doesn't insure it and has an accident and the third party makes a successful claim on your insurance and they seek to recover costs from you, all before you find another car and swop the insurance over.

londonTiger

Foxy-Stoat wrote: »

Either cancel it and take the financial loss after losing your NCD for that period and the high cancellation fees or do nothing until you find another car and transfer the insurance.

Obviously you could get unstuck if the person that buys your car doesn't insure it and has an accident and the third party makes a successful claim on your insurance and they seek to recover costs from you, all before you find another car and swop the insurance over.

Something needs to be done about this by the FSA.

Insurers should either drop their cancellation fees or allow road users to deactivate insurance cover in the interim.