Car Insurance Short Term whilst Selling Old Car

mikemmb

Hi, Does anyone have some first hand experience of short term car insurance?

My position is that I am about to buy a "newer" second hand car and will then sell privately my existing car. I am planning to switch my existing insurance and NCD across to the "new" car.

So I need to bridge the "unknown" gap between getting the newer car and selling the old one.

I need to be mobile throughout the transaction and clearly hope to sell my "old" car as quickly as possible.

Anyone been there done that?

Mike

mgfvvc

Your insurance company will have experience of this situation. They may offer 30 days free cover on the old car while you are going through the process of selling it.

mikemmb

mgfvvc said:

Your insurance company will have experience of this situation. They may offer 30 days free cover on the old car while you are going through the process of selling it.

Well that's an interesting idea, I must admit I haven't heard of that before but I have had some discussions with my current insurance company about bridging the gap and they didn't mention that. But worth a go!

Thank you.

Mike

DullGreyGuy

Most insurers will allow you to have two vehicles under one policy for a period of time (Temporary Additional Vehicle). It'd be up to you if you add the new car as a TAV and then switch the vehicles on the sale of the old car or do the switch, put the old car back on as a TAV and then remove it on sale.

Its certainly worth pricing it up -v- a standalone day policy, it tends to be cheaper for a period of more than a few days but not all insurers offer it. 

mikemmb

Thanks for the tips.
I have just tried my current provider again, but they do not offer such a thing.
Strange as you would have thought a sort of "bridging policy" would be a common requirement for anybody not doing a part exchange deal?

mikemmb

Have tried a few companies for a TAV (thanks DGG) but drawn a blank. Wondering if simply taking out a completely new (cheap as possible) stand alone policy for the “old” car then cancelling it when I sell the car is the only viable alternative? 

But will this give me a bad name in the trade!

Anybody in the car insurance trade got any ideas?

Thanks,
Mike

user1977

mikemmb said:

Have tried a few companies for a TAV (thanks DGG) but drawn a blank. Wondering if simply taking out a completely new (cheap as possible) stand alone policy for the “old” car then cancelling it when I sell the car is the only viable alternative? 

But will this give me a bad name in the trade!

Why? It's a pretty normal thing to do.

mikemmb

Well I didn't find exactly what I was looking for, .....but I found Esure Flex.
This has a monthly payment option and if you cancel, the following months payments simply stop. Plus if you cancel within the 14 day Cooling Off period a full refund is apparently given.
So I am hoping for a quick sale!