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Car Insurance Expires 2 months before end of lease agreement
choco_bear
Posts: 8 Forumite
As the title really...
My car insurance expires 2nd June, 2 months before my lease agreement expires and I give the car back. Temporary car insurance costs a fortune & i'm not sure whether you can take out insurance for the next 12 months & change the car that's insured after 2 months?
Surely I can't be the first person that this has happened to!!
My car insurance expires 2nd June, 2 months before my lease agreement expires and I give the car back. Temporary car insurance costs a fortune & i'm not sure whether you can take out insurance for the next 12 months & change the car that's insured after 2 months?
Surely I can't be the first person that this has happened to!!
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Comments
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Yes you can change your policy to the new car (assuming the insurer is willing to insure it) with an increase (or decrease!) in policy, they'll probably charge you an admin fee for it.
When I was replacing my old one I rang the insurer and got quotes for the ones I was looking at before I did test drives so I knew what sort of a hit I would be takingSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Yes you can change your policy to the new car (assuming the insurer is willing to insure it) with an increase (or decrease!) in policy, they'll probably charge you an admin fee for it.
When I was replacing my old one I rang the insurer and got quotes for the ones I was looking at before I did test drives so I knew what sort of a hit I would be taking
Thanks. I'll give the current insurance company a call. Only problem is they likely won't be the cheapest on the new car I will be getting though! Any ways around that?0 -
Make sure you check what the admin fees are within a policy for a change of car. Some of the policy fees are astronomical.“Time is intended to be spent, not saved” - Alfred Wainwright0
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It appears to be £15 online to make a change or £30 over the phone. 1st Central Car Insurance.0
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choco_bear wrote: »Thanks. I'll give the current insurance company a call. Only problem is they likely won't be the cheapest on the new car I will be getting though! Any ways around that?
Don't guess that they wont be the cheapest, go get some quotes for both your current and your new car. Then find out what the fees are for changing a vehicle/cancelling the policy, crunch the numbers and work out whats cheapest for you:
Stay with current insurer and change the car on the policy after 2 months.
Stay with current insurer, cancel after 2 months, go with different insurer for the new car.
Change now to different insurer, then change the car on the policy after 2 months.0
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