Car is a total lose, should I continue with insurer DD?

Greg89

I was told by a third party storage location that my car is a total lose by their report and a claim handler will phone me for a valuation 

After my car has gone to auction

Can I cancel my direct debit with my insurer? Obviously I'm not driving and don't have my car, if my DD goes out in early Feb, I can't contact for a refund 

DullGreyGuy

Only if you want your policy cancelled for non-payment.

Assuming you are claiming off of your own insurance then the total loss will be settled minus the outstanding premiums for the year. If you get another car in a reasonable timeframe you can transfer whats left of the policy to the new vehicle with the appropriate admin fee and any changes in premiums. 

If you are claiming off a third party or such then inform your insurers that you wish to cancel your policy rather than cancel the DD

Greg89

Based on paying £130 per month then the premiums which  six cars collided into mine 

My car is a write off 

How much will I get back or how much premium will I have to pay since my insurance renewed in Dec 

DullGreyGuy

Greg89 said:

Based on paying £130 per month then the premiums which  six cars collided into mine 

My car is a write off 

How much will I get back or how much premium will I have to pay since my insurance renewed in Dec 

You pay for the full year... your policy was always annual, the fact they loan you money to pay the premiums doesnt make it a monthly policy.

However, as mentioned, you can transfer the remainder of the cover onto another vehicle, presumably the replacement you'll be buying.

Brie

Normally a DD is set up so you can spread the premium for your insurance over 11 or 12 months rather than having to pay it in one lump.  If you have an accident and have to make a claim then you still owe for the whole year because of the claim made.  If you stop your DD then you are not paying your premium and you will not have your claim paid.  (at least that's what was done at the insurance company where I worked).  There may be some difference if all the claim is on someone else's policy but I still believe you need the full year's insurance in place until the dust settles.

If however you sold your car (not having had an accident), then you could cancel your policy from the date you sell your car.  You would still owe money because there would be admin fees that need to be paid for them hitting the cancel button on their computer.  So still not a good idea to cancel your DD.  

There are some policies that are sold as monthly apparently but I've yet to see one myself.

Greg89

Thanks

I cancelled my car tax in Jan because I do not drive, is this correct and allowed, I did get a letter saying I haven't paid my tax 

TadleyBaggie

Declaring as SORN would have been the correct thing to do, is that what you did?

DullGreyGuy

Greg89 said:

Thanks

I cancelled my car tax in Jan because I do not drive, is this correct and allowed, I did get a letter saying I haven't paid my tax 

You would need to SORN the vehicle but you are still the registered keeper and so you have to be very sure where the vehicle is being kept. If a vehicle is derivable (physically not necessarily legally) then sometimes storage yards may occasionally move vehicles onto the public highway meaning a fine for you if its spotted on the road whilst you've SORNed it (doesnt have to be caught moving)

Greg89

I haven't SORNed it and I've cancelled my car tax.

I don't have a v11 number