Car Insurance

Last year my car insurance was £275 - because I keep reading how much it has gone up, I used the comparison tool that is on the latest newsletter. My insurance isn't due until March next year but I just wanted an idea of how much it might be. The quote I received was for £217 for an annual policy????? So, my question is, should I take that out and cancel my current insurance in case the cost rises by the time I need to take it out?
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Comments

  • You'll need to add on the cancellation fee for this year. Very much doubt it will be worth it.
  • 400ixl
    400ixl Posts: 2,660
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    Not everyones insurance has gone up significantly, if at all for some.

    As above, you need to consider all of the cancellation costs and how much that will leave you getting refunded and how much you will be essentially losing.
  • bluelad1927
    bluelad1927 Posts: 306
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    edited 1 November 2023 at 10:39AM
    I wouldn't bother cancelling if you are a low risk age/ driving record and low risk vehicle. My insurance renewed in September  with a £12 increase on a policy that was around £170 last year. Not everybody has had crazy increases
     
  • I tried to register with MSE'S car insurance tool, but it looks as if you can only register if you are within 1 month of renewal. I would have liked to register today as I can never remember when it comes up for renewal.
  • DullGreyGuy
    DullGreyGuy Posts: 9,184
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    Put it in your diary and a reminder for 4 weeks before
  • TELLIT01
    TELLIT01 Posts: 16,260
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    To renew with my current insurer would have seen an increase of close to £100 this year.  I contacted them and the best they would do is to keep the price at approximately the current price.  I have found insurance at over £100 below their revised price so have moved.  There would seem to be little point in cancelling the current insurance with the figures provided by the OP.  Simply shop around nearer the day.
  • Thanks everyone - I think I'll wait until it's due.
  • Some very cheap insurances here! I have done some comparing, however, I don’t know how much my current insurers will charge. It’s not due until 1st January. Will they tell me what it is going to be? How can I compare?
  • DullGreyGuy
    DullGreyGuy Posts: 9,184
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    plodder49 said:
    Some very cheap insurances here! I have done some comparing, however, I don’t know how much my current insurers will charge. It’s not due until 1st January. Will they tell me what it is going to be? How can I compare?
    They will contact you 3-4 weeks before your renewal is due with their quote for you to stay with them. Most insurers won't quote 2 months out so you are too early to start shopping. 
  • mgfvvc
    mgfvvc Posts: 1,162
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    plodder49 said:
    Some very cheap insurances here! I have done some comparing, however, I don’t know how much my current insurers will charge. It’s not due until 1st January. Will they tell me what it is going to be? How can I compare?
    They will contact you 3-4 weeks before your renewal is due with their quote for you to stay with them. Most insurers won't quote 2 months out so you are too early to start shopping. 
    I thought there were 2 or 3 insurers that would quote from 60 days out?

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