Has anyone ever upgraded insurance mid policy

lil_me

From TPFT to fully comp ? Just wondering if it's possible or would a complete new policy be required?

balsingh

I've never done it but I cant see it being too difficult. In essence, all they will do is work out the difference between the annual quotes and work out how much you owe depending on how long is left plus a bit of an admin charge of course. Works similar to changing your car mid-policy.

A bit of advice though, get some annual quotes for fully comp first. They may try to charge you silly money for the upgrade and it may be cheaper to cancel the exising policy and take out a fresh policy elsewhere.

moonrakerz

Most insurance cos are willing to do any sort of change you request, although as someone has already suggested your requirements may mean a big hike in premiums, so it would be worth getting new quotes from elsewhere.

DGJsaver

moonrakerz wrote: »

Most insurance cos are willing to do any sort of change you request, although as someone has already suggested your requirements may mean a big hike in premiums, so it would be worth getting new quotes from elsewhere.

But if the OP is halfway through a policy , the charges for cancelling the policy may outweigh the benefit of getting a cheaper new policy

sinizterguy

With most policies you are allowed to cancel midway with a small admin fee and the rest is returned after calculating it on a monthly basis.

Further problems would only arise if there has been a claim already.

DGJsaver

sinizterguy wrote: »

With most policies you are allowed to cancel midway with a small admin fee and the rest is returned after calculating it on a monthly basis.

Further problems would only arise if there has been a claim already.

or if the premiums are paid monthly

brazilianwax

sinizterguy wrote: »

With most policies you are allowed to cancel midway with a small admin fee and the rest is returned after calculating it on a monthly basis.

Further problems would only arise if there has been a claim already.

Most??? Unlikely, as 'most' use a sliding scale for 'refunds' during the policy term, plus admin charges on top. It depends completely on the terms of that insurer/policy.

DGJsaver wrote:

or if the premiums are paid monthly

Makes absolutely no difference at all. :rolleyes: You sign up for a year's cover regardless.


OP - It should be possible, but you'll only know by contacting your insurer and asking them.

vikingaero

Most insurers will allow you to upgrade mid term. We've done this a few times on our fleet. We have a few old vans and cars insured TPF&T which were kept as back-up vehicles. We replaced some of them with new vehicles and upgraded the cover. Interesting thing is that for a good risk/postcode TPF&T isn't always as cheap as you think as TPF&T drivers tend to have more prangs. I can't see an insurer turning you down when they can charge you more money!