Insurance renewal but new car in April..

Bella2008

Hi, I need to renew my car insurance. I have ordered a new car which will be ready in April sometime. The cheapest quotes on my current car are not the cheapest on the car that I'll be getting if that makes sense.


I am not sure whether to go for the cheapest quote for my current car and just pay the extra when I get my new one which could be a lot more, or go for the company which is showing the best quote for the new car which is not the cheapest for my current one (if all that makes any sense!). I guess the quotes could change by April anyway.


Or maybe even get monthly insurance on current one until April but not sure if that would work out any cheaper..


Has anyone been in this situation?

Thanks

DUTR

I was picking up my car 3 weeks before renewal, changed it over for the admin fee, then when the renewal arrived it was cheaper than the previous car.

InsideInsurance

Are you exchanging the car or are you going to privately sell your old one? ie is there going to be either a gap or overlap at all?

I am sure many of us have been in the same boat, given the majority of the policy will run on the new car its arguably sensible to go for the one that is cheapest for it, assuming there are notable differences that are greater than the admin fees.

You also have the option of cancelling the policy and starting a new one on the new car but factoring in cancellation fees in your calculations.

One word of caution, you are locked to the insurer/ underwriter and not just the person that sells you the policy. So if you see a broker is cheapest for the new car you need to ensure the broker places the old car with that same insurer when they do the quotes otherwise you may find they are much more expensive when you come to switch as its the insurer that drives the price not the broker

Bella2008

Thanks, I am part exchanging the old for new so there will be no overlap. Old one is an 8 year old Nissan Micra and new a Range Rover so quite a difference in insurance price. Thanks for your help will have a think.

AdrianC

For two months of Micra and ten of Rangie, then unless the Rangie insurer is WAAAY off on the Micra, your best bet would be to go with them.

Congratulations on your lottery win.

DUTR

AdrianC wrote: »

For two months of Micra and ten of Rangie, then unless the Rangie insurer is WAAAY off on the Micra, your best bet would be to go with them.

Congratulations on your lottery win.

You compare selling a Micra to winning the Lotto?