Outraged at cancelation charges for car insurance

losgiganteskid

dunstonh wrote: »

Most people pay car insurance annually.

According to a "Gocompare" survey most motorists pay over a 12 month instalment. That maybe only those motorists that insure their vehicles through their website of course.

csgohan4

HappyHarry wrote: »

Just a thought, completely out of the blue, if your money is not stretching could you not cancel your trip to the Download festival in June, or your weekend to Poole in February or your holiday to Berlin/Rome in April and your trip to Belfast in March and the weekend in the Cotswolds for the airshow in June.

Or maybe look at reducing costs for your friend's hen do in Cardiff in August and the wedding in the Peak District in September?

http://forums.moneysavingexpert.com/showpost.php?p=73358129&postcount=19

since this is an insurance forum, always important to consider income protection, because you will be damned when you need it and you don't. Just a thought.


Also Happyharry is correct, if you cannot live beyond your means why put yourself in further debt.


We sacrificed many holidays to save up. It pays for it later as a holiday is transient, a house is permanent.


It's never money saving to pay monthly for car insurance, you might as well be burning the money away

boliston

csgohan4 wrote: »

not money saving to pay monthly either, might as well put money down the toilet. It's like getting a high interest loan

Running a car is about the most UN-moneysaving thing most people routinely do, so paying insurance monthly pales into insignificance in comparison.

csgohan4

boliston wrote: »

Running a car is about the most UN-moneysaving thing most people routinely do, so paying insurance monthly pales into insignificance in comparison.

actually I disagree, taking a train or flying to your destination would be.


If you can cycle to work which is 20- 30+ miles away good for you, but not everyone can do this.


Perhaps living is the most UN moneysaving idea thing to do, or should we live in a cave and sing kumbaya

dunstonh

boliston wrote: »

Running a car is about the most UN-moneysaving thing most people routinely do, so paying insurance monthly pales into insignificance in comparison.

What do you use in areas where there are no trains, trams and public services are virtually non-existent or totally impractical?

phillw

paddedjohn wrote: »

Yes but who's got £1200 to pay in one go?

I do, but I'd put it on a 0% credit card. That way I could use the £1200 to pay off my debts that are accruing interest.

takman

Faith177 wrote: »

Actually now the inusurance is settled and I have changed jobs and OH is working a small job part time we are in a much better financial position thank you hence why we are now doing these trips otherwise we would not be going. It took the TP insurer over 9 months to make us an interium payment and thats what caused the problem but as i said all sorted now

But this is exactly what I was saying, most people can sort out their finances but it may take a bit of time. So what you have posted is proof that even when your in financial hardship it can be resolved. The majority of people in financial hardship is caused by lack of planning for the future (although there are some exceptions, like always).

Faith177 wrote: »

And I did say in my post that I was in the situation not that I still am so you digging through my post histroy wasn't really necessary (still a little confused as to why you felt the need to do that but ho hum)

All I was trying to do was point out that everyone is different and sometimes the luxury of savings is out of some peoples grasp no matter how much they try. Also with insurance costs constantly rising amongst other costs conected with motoring more people may find they need to turn to monthly payments rather than a lump sum

If you look at statistics then running a car today has never been cheaper when you look at the costs against wages.

Also if someone can afford to pay £100 a month for 12 months then they can afford £1200 after 1 year. It's just because they didn't plan ahead that they didn't have the money.