What happens if you miss car insurance payments
in Insurance & life assurance
7 replies 215 views
My boy lost his job and now he's struggling to pay his car insurance so what will happen if keeps missing payments as he's already missed one and they charged him £7.40.
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If you aren’t able to help him it may be a good idea to cancel the policy himself and ask for a payment plan to pay what he owes, or he could sell the car and use the proceeds to settle.
In future it’s better, if possible, to pay up front.
This means he may struggle to get reinsured.
He would have had a letter upon the missed payment. That probably explains what happens next
He pays £255 a month and I think he has 5 payments left so if he cancels the insurance will this go against him because this is the first year of insuring a car.
If the insurance cancels the policy what will happen if he doesn't declare it as I don't think he will say.
If he doesn't declare a cancelled policy, the new insurer will find out, cancel that policy and then having 2 cancelled policies will be even worse, together with a chance of being referred for insurance fraud. Thus messing up his life for a long time.
If it’s cancelled on him and he doesn’t declare then they’ll find out if he ever makes a claim. They may well find out before, and he may be unable to get insurance.