Moving house just after insurance bought

SarahB89

Thanks in advance for any help with this.

My car insurance is due for renewal first week of July. We're moving from Buckinghamshire to Mersey at the end of July. My annual insurance premium is in the £800-1200 range.

If I take out insurance on the renewal date, I'll have to pay the charges for altering the address only a few weeks later, plus the difference in premium. I've looked into temporary insurance to cover the last few weeks at our current address, but it would be £250.

If we move and I find that my altered premium is higher, and there are cheaper alternatives, can I cancel the first policy and take out a new one? What's the best way round this?

neilmcl

You can cancel your policy at any time but there may be charges involved. It will undoubtedly be cheaper just to accept the change of address admin fee. Also, unless you're moving to a rural location I'd expect your premium to rise if moving from Bucks to Merseyside.

Carrot007

Also consider taking not the cheapest policy but one that allows you to make changes for no cost. It may save you in the long run.

[Deleted User]

I would also do comparisons for the new address to see which is cheapest there.
Then you can choose the best deal overall.

arcon5

Carrot007 wrote: »

Also consider taking not the cheapest policy but one that allows you to make changes for no cost. It may save you in the long run.

Change of address is a change of risk so no insurer will offer this for free at inception

laidbackgjr

arcon5 wrote: »

Change of address is a change of risk so no insurer will offer this for free at inception

I think it's more find an insurer that doesn't charge admin fees for the change - I can recommend AXA insurance - whenever I've changed car / cover / address all they've charged or credited back is the change in premium - no fees unlike other insurers that can charge £50 plus to simply make a change.

neilmcl

arcon5 wrote: »

Change of address is a change of risk so no insurer will offer this for free at inception

And the extra risk is taken care with an increase in premium, there doesn't necessarily have to be an admin fee. Having said that, if there's no admin fee they'll make up for it in other ways.