Temporary car insurance via Cooling-off period cancellation

slizovskiy

Hello, I am thinking of buying a used car and selling my existing car afterwards. I cannot apply my NCD to the new car before I sell my current car. So, I need a temporary car insurance for a new car. I have had a good experience with a company Esure: I bought a car insurance from them and cancelled it before 14 days. As a result, I paid only 25 pounds admin fee, that was later reimbursed through the cashback I still received for taking this policy.

Did anyone have similar good experiences with other companies? I have read that other companies charged much more for Cooling-off period cancellation.

To summarise: as such, temporary car insurances have crazy-high prices. Using ordinary insurance with subsequent early cancellation is a way out if you choose the right company.

DUTR

I simply transferred the policy to the next vehicle and the insurance covered me for both cars whilst the previous one was sold.

Aretnap

One potential pitfall is that if you have a claim before you cancel, you will not get any refund of your premium - and if you are paying monthly you will be liable for the full year's premium. So if you do end up claiming, it will be a lot more expensive than the temporary policy would have been.

Of course the chances of having a claim in the week or two that you are using the policy are (hopefully) slim, but it's a risk to be aware of.