selling car - cancel insurance or wait until renewal

Ant555

Hi,
I am selling a car and when sold there will be 1 month and 7 days of insurance left.

Is there any pitfall to keeping the insurance running, ensuring it doesnt auto renew and receiving an extra years no claims letter in a couple of weeks time?

There is a chance that we will get another car but it may be 18 months so a 5 years NCD letter <2 years old might be of value.  Would be such a shame if we do actually qualify for an extra year with no claims and I cancel 2 weeks before.

Thanks

Car_54

Suppose you don't cancel, and the new owner (or anyone) drives it uninsured and has an accident.

Your insurer is still responsible for 3rd party claims under the Road Traffic Act, and your contract will enable them to recover any costs from you. That could mean many thousands of pounds. Don't even think of not cancelling!

DullGreyGuy

As above, back in my claims days had one guy on a payment plan to repay the c£80,000 of damage/injury the new owner had caused without insurance and a charge on his home 

Ant555

Thanks for the replies - Sold car yesterday - Spooked by the potential for an uninsured driver to claim I cancelled - it cost me a cancellation fee to do so but all now all above board.

For info - Admiral have sent a cancellation email along with an NCB notification dated THIS week, number of years doesn't include this year (understandable) but at least I will have a document  to use in 18 months time dated <2 years so all turned out good in the end.

Thanks to all