car insurance/quidco question

emylou

I have just bought a brand new car which I will be picking up on 1st September, meanwhile my current insurance runs out on 23rd August. One insurance company have told me that you have 14 days to cancel a policy without a charge- is this correct for all companies? Would it be best to pay it all in one go or just a monthly installment? (Does it matter?) Can I use quidco still for cashback or will it not track if I cancel after 2 weeks?
Sorry for all the questions, thanks in advance
emylou
ps I have also posted this in the insurance forum

hypno06

You should have a 14 day cancellation clause on all insurance etc.

If you cancel by this time, quidco may have tracked but may not validate and pay out because you could be seen as abusing the system just to get cashback.

If you want to pay by monthly instalments, make sure that the APR is acceptable - very few do this for no extra charge, although some do. If the APR is more than your current credit card rate for example, it is better to pay in one go if you can afford it. Some insurance providers don't offer the option of monthly payments.

hope this helps!

emylou

emylou wrote: »

Would it be best to pay it all in one go or just a monthly installment? (Does it matter?) quote]

Thanks for your reply hypno06.
I try to pay insurance in one go every year- have been saving for it throughout the year, but what I meant in this context was does it matter if I pay in one go or installments regarding Quidco?

oscar52

I got my car insurance through quidco, and pay by monthly installments direct debit - it tracked fine and paid out six weeks later