Cancelling car insurance - they want £40

Captaincodpiece

ossie48 wrote: »

Get real, in reality who looks at cancellation fees. Ive been with them for some time, I have maximum no claims (so not an issue) they want £400 to insure the new car. I can get it elsewhere for £200, so even with the cancellation fee Im better off binning them.

So just do it, because it won't be £200 with zero no claims will it?

facade

ossie48 wrote: »

even with the cancellation fee Im better off binning them.

There's your answer then, cancel and save £17 in real terms :cool:

JustinR1979

ossie48 wrote: »

Get real, in reality who looks at cancellation fees.

People that don't want the terrible shock of finding out it'll cost the gargantuan sum of £40 I'll bet.

ossie48

JustinR1979 wrote: »

People that don't want the terrible shock of finding out it'll cost the gargantuan sum of £40 I'll bet.

hilarious..the point of the thread was over the alleged illegality of not cancelling the insurance but dont let that stop you throwing in a few funnies

tykesi

ossie48 wrote: »

Get real, in reality who looks at cancellation fees. Blah blah binning them.

Just because you didn't read them doesnt mean they weren't there. How about taking some responsibility?

Bin them then.

ossie48

tykesi wrote: »

Just because you didn't read them doesnt mean they weren't there. How about taking some responsibility?

Bin them then.

The small prints not the issue, the allege illegality of failing to cancel an insurance policy is.

Clearly you cant help in this respect so thanks for nothing.

matttye

They may well have misled you intentionally or unintentionally about it being illegal to have two policies, but as others have said, you won't be able to use your no claims bonus to take out a new policy whilst an existing policy is in place.


It's likely that the new policy with no bonus will far exceed £240 (the cost of the new policy + the £40 cancellation fee), so why not just pay the £40 and move on?


Saves money AND time!

Captaincodpiece

ossie48 wrote: »

The small prints not the issue, the allege illegality of failing to cancel an insurance policy is.

Clearly you cant help in this respect so thanks for nothing.

Forget the legalities of it keep it running.

Where are you going to get maximum no claims for the new policy?

Arguing the toss on here ain't going to get you off the barrel they have you over.

marlot

captainawsome wrote: »

A story was out a few months back. A guy sold a motorbike and forgot to cancel his insurance, the guy he sold it to had no licence and no insurance and crashed in the ride home. The rider died and the insurance wanted to hold the seller liable (some legal technicality). I've been trying to find the link but can't find it now. ...

Here it is: https://forums.moneysavingexpert.com/discussion/5051981

Iceweasel

I think that your current insurance company saying it was 'illegal' was just a bad/wrong choice of words. I doubt it would be illegal.

However if you were to say nothing and let it run, there would be a problem with the Motor Insurers Data Base when the new owner of the car your selling insures it. You can't have 2 different people insuring the same car.

Your current insurer may well then cancel your policy - and that would give you BIG problems in the future.

Then we have the problem in that the max NCB you have cannot be transferred to the new car policy with the new insurer until either cancellation or the end of the 12 months period with the current insurer.

I would be paying the £90 and then changing insurer once you get the renewal from the current one in 2 months time.