Run new policy days before renewal.

Dandytf

Hiya mser's
Seriously considering accepting a new car insurance quote which at the earliest only runs from 15th Jan '20
Current policy runs until 18th Jan so any new policy is going to be early.
Is this allowed as I could save quite a few pounds per month with similar features.
I'm also basing new quote on next years no claims as this years is yet to be added.
Other options could be:-
1. Take new policy and cancel current from 15th Jan- does this mean I'de loose 1 years no claims which is yet to be added.
2. Simply wait until later this week or early next week then accept new quote and request cancellation from end date of current policy.

Thanks

FutureGirl

If you cancel current insurance, you'll lose one year NCB yes. You'll also have to pay a cancellation fee.

You can't take out new policy to start on 15th, and end current on 18th and use the NCD you'll get after 18th. You'll have to do it with 1 years less NCB as, at the time of the policy starting, you don't have that additional NCB year.

Dandytf

FutureGirl wrote: »

If you cancel current insurance, you'll lose one year NCB yes. You'll also have to pay a cancellation fee.

You can't take out new policy to start on 15th, and end current on 18th and use the NCD you'll get after 18th. You'll have to do it with 1 years less NCB as, at the time of the policy starting, you don't have that additional NCB year.

Thanks suspected that could be the case t.b.h. Lost 1y-rncd+38 cancellation fee
Only asked to maybe get latest policy agreed before I return to office from Wed's
Guess I'll re run latest quote Fri'd evening and hope it goes well, I can then add latest 1 year ncd -assuming no issues until mid Jan;

Korkyb

Not sure if its exactly the same but....


My daughter had 12 months learner insurance & passed her driving test 23 days before the end of the 12 month period.


The learner insurance was the kind where the policy ends as soon as the policyholder passes their test.


On passing her test we told the learner insurer that she had passed her driving test then took out a new policy with another company.


The learner insurer said as only a few weeks to run on the policy they wouldn't cancel the insurance but would let it run/lapse (& it didn't cover her now anyway).


Around 4 weeks later daughter got a letter with proof of 1 years no claims from the learner insurer.


New insurer accepted the proof of 1 year no claims (even though policy had been running around 4 weeks) and adjusted her policy reducing the premium by around £31.


So anyway seems she had 2 policies in effect at the same time overlapping by 23 days & the no claims were transferrable.


Not sure if this is normal procedure but happy days for said daughter :-)

Dandytf

Thanks mser's. with today being 18th. I can't be far away from choosing new providers.
AA seems very reasonable, I'm sure all going well I could base quote on 4yrs NCD and run existing until 18th Jan then select 19th for newer policy.
Thankfully after difficult 2017 from 2018 I could build up some protected NCD again which I'm choosing to continue with new policy+ latest providers will know of my 3ry medically restricted Liscence as did current insurers-not every quote accepts this.
Only concern is Dec' has 31 days so maybe this weekend or early next week, I could purchase new policy with Initial small deposit.

Dandytf

Current providers renewal arrived via e-mail today.
Went onto e-chat negotiated further reduction.
From high 8 hundreds to 700 hundreds
Only 10 pounds more per month compared to competitors quote.
Hassle free renewal accepted -thankfully no debit card deposit required.

Thanks mser's additional 4 years is seen online with renewed policy from 19th Jan

chrisw

Dandytf wrote: »

Current providers renewal arrived via e-mail today.
Went onto e-chat negotiated further reduction.

Yes, it annoys me that. My son's renewal was £680, he phoned to stop the auto renewal as he found a cheaper one, and they came back with £501. Why couldn't they offer that in the first place?

Dandytf wrote: »

Only 10 pounds more per month compared to competitors quote.

That's still £120 a year though.

csgohan4

chrisw wrote: »

Yes, it annoys me that. My son's renewal was £680, he phoned to stop the auto renewal as he found a cheaper one, and they came back with £501. Why couldn't they offer that in the first place?


That's still £120 a year though.

That's how insurers make money, by praying you won't negotiate or leave and leave your policy on auto renewal

Carrot007

csgohan4 wrote: »

That's how insurers make money, by praying you won't negotiate or leave and leave your policy on auto renewal

And it also loses them customers as many people will switch rather that ring them up to haggle.

csgohan4

Carrot007 wrote: »

And it also loses them customers as many people will switch rather that ring them up to haggle.

Sadly those that don't they make a killing off. I've had to handle my parent's insurance and utilities as I found out a supplier was ripping them off on auto renewal last few years.

£600 for home insurance and on price comparison was only about £100 for similar cover as an example. I save them money and I get satisfaction from haggling/ cheaper deal.

Virgin media were charging them for fibre over £40, switched to another provider at a cost of £16 for fibre as well after cashback.

Sadly they pray on the elderly and naive, loyalty no longer pays

Dandytf

chrisw wrote: »

Yes, it annoys me that. My son's renewal was £680, he phoned to stop the auto renewal as he found a cheaper one, and they came back with £501. Why couldn't they offer that in the first place?


That's still £120 a year though.

Cost wasn't my only consideration.
I had two policy's cancelled a few years ago when I forgot to add a non fault claim.
That led me to provident then Aviva kindly stated 1 year later that it wouldn't affect any policy from them.
Agreed to stay for a little extra still a decent saving of nearly 20 pounds per month compared to last years.

Thanks