Tell insurer I've sold?

faddy

I have an annual policy on Car A, with Car B added to it on 30 days temporary cover (I didn't take an annual policy on Car B as I was in the process of selling it at renewal time). I've sold Car B today with 16 days of the temp cover remaining.

If I tell insurers I've sold it, do I expect to be charged an amendment fee (currently £26.50)?

I've sold the car to someone I know and trust and am confident that he has insured it. Under these circumstances, should I be safe just leaving the temp cover to run to its end? The policy booklet requires me to notify "change" of car but says nothing about selling without replacement. (Selling the car also changes the "total no. of cars at home" shown in the proposal confirmation, but again there's no explicit requirement to notify this)

forgotmyname

Upto you but i wouldnt. There is a small risk of a claim landing on your doorstep.

If you are that confident why are you asking on here though? Do you feel lucky?

sinizterguy

Your insurance policy continues to carry that car's third party liability in case of a claim.

Technically, even if the other party has insured it, your insurance company could have shared liability (in theory).

It is safer to cancel (at a known cost) than take a risk and be landed with an unknown cost.

faddy

forgotmyname wrote: »

If you are that confident why are you asking on here though?

Wondering whether I would get charged for ending temporary cover early, and if there's a downside to not notifying that I've not thought of.

OnanTheBarbarian

Whatever the charges of cancellation, it is not worth the grief of what could happen in the event the new owner hits anyone/thing.

I am currently doing all I can to help this gentleman...

http://www.dailyrecord.co.uk/news/scottish-news/scots-biker-insurance-hell-after-4141840

faddy

OnanTheBarbarian wrote: »

Whatever the charges of cancellation, it is not worth the grief of what could happen in the event the new owner hits anyone/thing.

But only if new owner is uninsured? (Incidentally, does one risk the same situation arising if one allows someone to drive one's car, believing them to be insured to do so but they're not? What if car is driven without permission by, say, a family member, or if it's TWOCed?)

OnanTheBarbarian

faddy wrote: »

But only if new owner is uninsured? (Incidentally, does one risk the same situation arising if one allows someone to drive one's car, believing them to be insured to do so but they're not? What if car is driven without permission by, say, a family member, or if it's TWOCed?)

If the new owner insured the car, there is still a risk of your insurers getting a tickle due to the dual-insurance situation, but they should be able to bat it away due to the new keeper's insurers having a higher position in the pecking order and with their being a sale of the car and therefore you having no insurable interest. But it does not stop the other lot having a go and you then having a claim against you whilst it all gets sorted out.

If you let someone drive your car who is not insured on your policy or they don't have driving other cars cover themselves, your insurers have to pay out, but would probably then come after you for "causing or permitting".

If your car was TWOC'd then if the thief is identified, your insurers have to pay out (but would not come after you unless you left the keys in or something daft). If it was a mate who TWOC'd the car, you would have to give a statement to the police confirming this, to ensure a charge was brought.

faddy

OnanTheBarbarian wrote: »

If you let someone drive your car who is not insured on your policy or they don't have driving other cars cover themselves, your insurers have to pay out, but would probably then come after you for "causing or permitting".

Even if you believe them to have DOC cover because they say so e.g. someone test driving a car you're selling?

agrinnall

faddy wrote: »

Even if you believe them to have DOC cover because they say so e.g. someone test driving a car you're selling?

Surely it's your responsibility to check rather than just take their word for it?

OnanTheBarbarian

faddy wrote: »

Even if you believe them to have DOC cover because they say so e.g. someone test driving a car you're selling?

Yep. Merely asking them isn't sufficient.

faddy

OnanTheBarbarian wrote: »

Yep. Merely asking them isn't sufficient.

I've read on these forums (possibly even posted by yourself) that the only reliable way to know is to eavesdrop on a conversation between the would-be driver and his insurer confirming cover. I can't imagine many potential buyers being happy with that.