Is it more expensive to let the car insurance lapse and get new insurance 1 month later?

EasyUser2025

My car insurance is about to renew, but at the moment I don't really need a car. However, this might change in 1-3 months. So I'm thinking about letting the insurance lapse and then get new insurance when I need it.
I know that the insurance gets much more expensive if you change the insurance company less than 8 days before the renewal date. Does this also apply when you let it lapse and then get new insurance for example 1 month later?

TELLIT01

EasyUser2025 said:

My car insurance is about to renew, but at the moment I don't really need a car. However, this might change in 1-3 months. So I'm thinking about letting the insurance lapse and then get new insurance when I need it.
I know that the insurance gets much more expensive if you change the insurance company less than 8 days before the renewal date. Does this also apply when you let it lapse and then get new insurance for example 1 month later?

Really.  What's the basis for that belief?  Many insurers only issue renewal notices a couple of weeks before renewal date which would pretty much preclude any opportunity to change insurer.

bradders1983

I have never heard that said before either.

In any case you can go on the comparison sites and "lock in" a price 30 days before renewal anyway.

Aretnap

It is generally true that buying insurance a few weeks in advance is cheaper than buying it at the last minute. Both for commercial reasons (people buying in a hurry are likely to be less fussy about the price they pay, so why not charge them more?) and actuarial reasons (think about the different personality traits of someone who plans their insurance cover three weeks in advance versus someone who leaves it until the day it's due, or worse the day after it's due) .
http://www.moneysavingexpert.com/news/2019/12/car-insurance-optimum-time-to-buy/amp
However, if you are planning on not using your car for a month, there is presumably nothing to stop you sorting out insurance three weeks before you plan to use it again, so it's not obvious that it would result in you paying more. 

MalMonroe

EasyUser2025 said:

My car insurance is about to renew, but at the moment I don't really need a car. However, this might change in 1-3 months. So I'm thinking about letting the insurance lapse and then get new insurance when I need it.
I know that the insurance gets much more expensive if you change the insurance company less than 8 days before the renewal date. Does this also apply when you let it lapse and then get new insurance for example 1 month later?

If you have a car, it's illegal to have no insurance for any period of time, even if you don't intend to drive. In that case, you have to submit a SORN (Statutory Off Road Notification). Don't forget that all motorists' details are now online, so the fact that you don't have insurance can be easily discovered by police or anyone else who wants to know. More info here, just scroll down a bit -  https://www.confused.com/car-insurance/guides/what-happens-if-i-dont-get-car-insurance#

And more details here from this very MSE site from 9 years ago - https://www.moneysavingexpert.com/news/2011/06/compulsory-car-insurance-rules-come-into-force-today/

MalMonroe

Aretnap said:

It is generally true that buying insurance a few weeks in advance is cheaper than buying it at the last minute. Both for commercial reasons (people buying in a hurry are likely to be less fussy about the price they pay, so why not charge them more?) and actuarial reasons (think about the different personality traits of someone who plans their insurance cover three weeks in advance versus someone who leaves it until the day it's due, or worse the day after it's due) .
http://www.moneysavingexpert.com/news/2019/12/car-insurance-optimum-time-to-buy/amp
However, if you are planning on not using your car for a month, there is presumably nothing to stop you sorting out insurance three weeks before you plan to use it again, so it's not obvious that it would result in you paying more. 

The thing stopping OP is that it's against the law.

Aretnap

MalMonroe said:

Aretnap said:

It is generally true that buying insurance a few weeks in advance is cheaper than buying it at the last minute. Both for commercial reasons (people buying in a hurry are likely to be less fussy about the price they pay, so why not charge them more?) and actuarial reasons (think about the different personality traits of someone who plans their insurance cover three weeks in advance versus someone who leaves it until the day it's due, or worse the day after it's due) .
http://www.moneysavingexpert.com/news/2019/12/car-insurance-optimum-time-to-buy/amp
However, if you are planning on not using your car for a month, there is presumably nothing to stop you sorting out insurance three weeks before you plan to use it again, so it's not obvious that it would result in you paying more. 

The thing stopping OP is that it's against the law.

It's not against the law - he just has to Sorn it when the insurance expires. 

MalMonroe

Aretnap said:

MalMonroe said:

Aretnap said:

It is generally true that buying insurance a few weeks in advance is cheaper than buying it at the last minute. Both for commercial reasons (people buying in a hurry are likely to be less fussy about the price they pay, so why not charge them more?) and actuarial reasons (think about the different personality traits of someone who plans their insurance cover three weeks in advance versus someone who leaves it until the day it's due, or worse the day after it's due) .
http://www.moneysavingexpert.com/news/2019/12/car-insurance-optimum-time-to-buy/amp
However, if you are planning on not using your car for a month, there is presumably nothing to stop you sorting out insurance three weeks before you plan to use it again, so it's not obvious that it would result in you paying more. 

The thing stopping OP is that it's against the law.

It's not against the law - he just has to Sorn it when the insurance expires. 

If you actually read everything I wrote, you'd know that that fact is in there!

EasyUser2025

SORNing it is no problem, had done it online already from May to July, parked on a driveway. Also got a refund for the suspension period from the insurance company. And saved 18 pounds per month taxes.

Grumpy_chap

If you will SORN the car, but keep it on a drive way without insurance, what protection do you have in the event of theft, fire or accidental damage (a roof tile could fall, for example)?  Maybe the car is low value and this loss could be tolerated?

EasyUser2025

It's a 2005 Ford Focus, so unlikely it gets stolen.