Car insurance when you lose your licence

Bulldog9

I have just been informed by my GP that I must stop driving due to a medical condition. This will be in effect for 12 months minimum so I must surrender my licence to the DVLA. What will happen to my insurance when I tell the insurance company?

MattMattMattUK

Bulldog9 said:

I have just been informed by my GP that I must stop driving due to a medical condition. This will be in effect for 12 months minimum so I must surrender my licence to the DVLA. What will happen to my insurance when I tell the insurance company?

Your insurance policy will be cancelled, not a declarable cancellation so it will not impact future insurance, but they will be unable to continue the policy. You will receive a proportionate refund, less any fees. 

Bulldog9

Will I then have to re-insure it in my wife’s name in order to retain fire and theft insurance?

NanookOfTheNorth

I thought it would still be insured so if any damage is done you can get it repaired via insurer, or other people on insurance are still covered,  but not covered you for driving while license temporarily suspended.

Similar thread here...

https://forums.moneysavingexpert.com/discussion/6490280/car-insurance-when-policy-holder-has-ill-health

DullGreyGuy

Bulldog9 said:

I have just been informed by my GP that I must stop driving due to a medical condition. This will be in effect for 12 months minimum so I must surrender my licence to the DVLA. What will happen to my insurance when I tell the insurance company?

Is there another named driver on the policy? If there is then some insurers will allow you to continue the policy obviously without you driving it. Some may allow you to switch the existing policy into the name of the named driver. 

Bulldog9 said:

Will I then have to re-insure it in my wife’s name in order to retain fire and theft insurance?

Reinsuring is technically what insurers do when they buy insurance on the insurance they've sold. 

Will your wife be driving the car? Will you be taking it off the road to SORN it? 

If its SORNed then you can buy "laid up" motor insurance which only gives Fire and Theft, no Third Party liability cover. For a laid up policy it doesn't matter who the policyholder is as it's not insured to be driven. 

XRS200

DullGreyGuy said:

If its SORNed then you can buy "laid up" motor insurance which only gives Fire and Theft, no Third Party liability cover. For a laid up policy it doesn't matter who the policyholder is as it's not insured to be driven. 

Or preferably accidental damage, fire and theft

sheramber

Contact your insurance company and ask them.

eschaton

If you need the vehicle to be insured then do nothing. 

It does mean the car can’t legally be used as a named driver would default to main driver. As it’s insured, it could be used by someone with 3rd party extension if they have it on their own insurance. 

Mainly to give it a run and nothing more due to only 3rd party cover.