Cancel car Insurance ??

Caz3121

do you have a ncb on the policy? have you used that ncb for the new policy? (it cannot be on 2 policies at the same time)

Aretnap

Here's what can happen if you don't cancel the old policy.

http://www.visordown.com/motorcycle-news--general-news/biker-may-be-forced-to-pay-thousands-after-banned-new-owner-has-fatal-crash/25470.html

Admittedly it's not enormously likely to happen to you... but is it a risk worth taking for the sake of a few quid?

busiscoming2

[QUOTE=rs65;68726118

Are you going to replace the car? If so, tell your insurer you have sold the car and ask if they will suspend the policy meantime.[/QUOTE]

This is what I'd be inclined to do.

Astronaughtwannabe

Aretnap wrote: »

Here's what can happen if you don't cancel the old policy.

http://www.visordown.com/motorcycle-news--general-news/biker-may-be-forced-to-pay-thousands-after-banned-new-owner-has-fatal-crash/25470.html

Admittedly it's not enormously likely to happen to you... but is it a risk worth taking for the sake of a few quid?

I'm not convinced that the article is anything but sensationalist. There's many reasons why the insurer would Not be liable and the previous owner would not be sued for thousands.


It sounds like a storm whipped up by the insurer to collect in cancellation fees from those that sell their vehicles mid term (call me a cynic but insurers a great at propaganda)

Retrogamer

Astronaughtwannabe wrote: »

I'm not convinced that the article is anything but sensationalist. There's many reasons why the insurer would Not be liable and the previous owner would not be sued for thousands.


It sounds like a storm whipped up by the insurer to collect in cancellation fees from those that sell their vehicles mid term (call me a cynic but insurers a great at propaganda)

Someone was posting on here just over a month or so ago with the same issue.

They sold the vehicle to someone, left insurance running.
New owner was uninsured, involved in an accident and the posters insurance company looked like they were going to pay out due to their legal obligation to do so.

They might not pursue the policy holder for the return of money, but at the very least you'd still need to declare a fault accident ony our future policies for the next 5 years and potential loss of NCB