Switching before renewal date

nlamont

I've taken MSE advice and used their tool to find a better quote than my renewal next year is likely to be.

Is it best to cancel the existing policy (3.5 months to go) and pay the cancellation fee, or leave it running till it expires and start the new policy now? I'd heard there might be problems with claims if you have more than one policy.

Brie

You're unlikely to get a refund of any sort if you cancel early and just have to pay extra for the privilege.  And you def don't want more than one policy in case you have a claim (2 companies not doing anything and 2 deductibles as well...).

Why not just wait to get a quote closer to when the policy ends?  I think the sweet spot is supposed to be about 3 weeks before.  

HillStreetBlues

If you cancel you lose the NCB for that year. (Maybe better put is, you don't gain one for that year)

Aretnap

HillStreetBlues said:

If you cancel you lose the NCB for that year. (Maybe better put is, you don't gain one for that year)

Whereas if you don't cancel, you won't be able to use your NCB on the new policy at all.

Bigwheels1111

You can hold 2 insurance policies on one car.
I used to have fully comp on my car for private use.
Plus hire and reward for work.

mdann52

Bigwheels1111 said:

You can hold 2 insurance policies on one car.
I used to have fully comp on my car for private use.
Plus hire and reward for work.

You can, but most policies say you can't.

Specialist "Top up" policies don't provide the statutory 3rd-party cover to the requirments of the Road Traffic Act, but will cover any incidents you have while in the course of the activity they insure for. You (usually) cannot have 2 standard policies on a vehicle.

born_again

So OP has got a better quote now, but has no idea just what current renewal might be in 3.5 months time. So is it really better? 
Then is asking about leaving both running at same time.
So cant use NCD on new policy & also paying for 2 on the same car...
Very MSE.