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Tesco Bank Insurance!

edited 30 November -1 at 12:00AM in Insurance & Life Assurance
3 replies 592 views
paragon909paragon909 Forumite
1.5K posts
edited 30 November -1 at 12:00AM in Insurance & Life Assurance
So I'm currently paying £39.80 month for a 1.2 corsa comfort... Not exactly a sports car, I'm over 25 still under 30. Yet my last years insurance was only £29 odd, But am I paying extra when I recently done a quote with tesco bank and got a quote for that £29 again.

Can I just cancel my insurance and take it out a new policy with the newer price. Seems ridiculous tbh. I'v never crashed a car in my life, I'v never dented a car, I've had no collisions. What am I paying for here.


Some advice would be greatful.

Replies

  • QuentinQuentin Forumite
    40.4K posts
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    You will be able to cancel your policy and take out a new policy.


    Bear in mind that there will be costs involved! (Cancellation fee plus early termination costs as you are paying off the premium in instalments)


    And no NCD will be awarded for the part year.


    Find out the full cost to you of cancelling and do the sums to make sure this is a cost effective plan
  • hollie.weimeranerhollie.weimeraner Forumite
    2K posts
    Part of the Furniture 1,000 Posts Name Dropper
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    paragon909 wrote: »
    So I'm currently paying £39.80 month for a 1.2 corsa comfort... Not exactly a sports car, I'm over 25 still under 30. Yet my last years insurance was only £29 odd, But am I paying extra when I recently done a quote with tesco bank and got a quote for that £29 again.

    Some advice would be greatful.

    My assumption here is that you let them automatically renew your policy when it expired.

    Never ever select auto renew when the policy is taken out (sometimes they hide this in the detail but you can deselect it).

    Then do a search of alternative providers prior to renewal (I do mine about 6 weeks before renewal with dummy details).

    Read MSE's articles about car insurance and hopefully you won't get stung again.;)
    3.975 KW Solar PV. 15 Canadian Black 265w panels with Sunny Boy 3600tl Inverter. SSE facing with 30 degree pitch. In occasionally sunny Sheffield.
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  • DCFC79DCFC79 Forumite
    39.4K posts
    Part of the Furniture 10,000 Posts Name Dropper
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    paragon909 wrote: »
    So I'm currently paying £39.80 month for a 1.2 corsa comfort... Not exactly a sports car, I'm over 25 still under 30. Yet my last years insurance was only £29 odd, But am I paying extra when I recently done a quote with tesco bank and got a quote for that £29 again.

    Can I just cancel my insurance and take it out a new policy with the newer price. Seems ridiculous tbh. I'v never crashed a car in my life, I'v never dented a car, I've had no collisions. What am I paying for here.


    Some advice would be greatful.

    Nearly £40 a month for insurance and being under 30, I suspect it could be high due to the car being a corsa, its seen as a boy racers car.
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