What to do about insurance for new car?

rachpid

Hi all,

I've just had to get a new car, just sorting out insurance etc for it. Ordinarily I'd update my existing policy with the new car details but have realised I have under a month left on it . I'm a little confused now about what to do. Should I update for the last three weeks or can I just take out a brand new policy - will it confuse my old company when it comes to transferring the no claims if the reg is different? I'd rather not pay the change of details cost if I can!

Nobbie1967

what's the change fee? What's the annual premium? How much NCB have you got? Might make more sense to pay the change fee depending on the answers to the above questions.

rachpid

I've got 9 years no claims. Not sure what the change fee is yet, was about £20 last time I did it. I pay £50 monthly so approx £600 a year but have had quotes for new car for £350 a year.

System

rachpid wrote: »

I've got 9 years no claims. Not sure what the change fee is yet, was about £20 last time I did it. I pay £50 monthly so approx £600 a year but have had quotes for new car for £350 a year.

The quandry is the car needs to be insured and you can't use NCD on two different policies simultaneously. Chances are that given the quotes for the new car are half the old one that any charge would be covered by the reduced premium on your existing policy. Tesco certainly didn't charge me last month for a change I made 2 weeks prior to the policy ending.

Nobbie1967

You're not going to get a refund of your premium, so you may as well pay the change fee if it's £20-25 as otherwise you would be paying twice for the final months insurance. Even the new premium is still £30 a month.

rachpid

Thanks, will call my existing company and find out how much they charge if anything to change for the last couple of weeks. Then I can shift to a cheaper policy!

Ant555

In a similar situation to yours - did the comparison sites for quotes and a new insurance co was the best deal for me (quotes done including my current NCB)

I calculated there was no financial reason for me to let the old Insurance Co know that I wouldn't be renewing or that I would not have the car for the last 2 weeks of the policy.

I rang the potential new insurance co and explained I wanted to use the NCB on my new car but it was currently being used on a car policy due to end in 6 weeks with my new car arriving earlier.

Callcentre person had a word with supervisor and said that would be fine and noted it on my file . They said I would have extra time to send them proof of NCB - I recorded names, dates, times of the people I spoke to.

rachpid

Thanks for the help, new car is now covered by old policy until the renewal in a few weeks, I actually got £11 back from them instead of having to pay anything! I won't be carrying on with them though as they quoted me £650 for the renewal compared to the £350 I've already found online! So all sorted.

neilmcl

rachpid wrote: »

Thanks for the help, new car is now covered by old policy until the renewal in a few weeks, I actually got £11 back from them instead of having to pay anything! I won't be carrying on with them though as they quoted me £650 for the renewal compared to the £350 I've already found online! So all sorted.

What are you doing, insurance wise with your old car, or have you got rid of it?

Just be aware that if you still have the old car you have to also insure that, unless it's been SORNed.

rachpid

neilmcl wrote: »

What are you doing, insurance wise with your old car, or have you got rid of it?

Just be aware that if you still have the old car you have to also insure that, unless it's been SORNed.

Insurance for new one starts tomorrow when I pick it up in the afternoon, old one is being collected for scrap tomorrow so there won't be any overlap.

Geodark

Keep in mind though, if you don't do anything on your old policy, and just leave it to run out, you (or rather the insurance) are still liable for the car after it has been taken. You would still be down as insuring the old car. Pay the money and change it over.