Car insurance

tina123a

I thought I would write about my disappointment in car insurance.

After reading the tips that I could probably get car insurance cheaper I looked into it.

Yes, I can but to opt out of my current provider would cost me over £150.00.

As a single parent I cannot afford to switch even though I can find cheaper car insurance (the extra would help towards the car tax).

Have any other people found this is the case?

I was also told that when I renew my insurance as it is in November the prices are generally higher due to more accidents occurring over the Winter periods.

Keith

Hi Tina,

Welcome to the forum.

Unfortunately you're currently contracted to your insurer, so they have placed into that contract an exit fee which in your case is over £150.00.

The time to shop around is at your next renewal. The policy won't vary due to seasonal changes but may be slightly more due to a general increase in premiums.

Of course if you stay claim free, then you'll recieve a better "bonus" for no cliams, and the policy will be even cheaper

greyteam1959

would be interested to know which insurance company it is ??
£150 to move does not sound right to me most insurance companies might charge an admin fee of maybe £25 but £150 ????

Wig

There are factors to consider when deciding to change mid term.

If you are still building up your NCB changing will lose you the X months you have built up towards this years NCB you might save more overall by staying put and getting a bigger discount at next renewal.
The overall cost of exiting Vs staying put.

As your renewal is Nov, I doubt you will be losing anything substantial in terms of NCB.
Also when renewing you should not just move to the cheapest without first speaking to your current insurers retentions department, they will always have something to knock off your renewal premium. But as you current company has a large exit cost £150 I think you may not want to stay with them anyway.

It could be your annual premium is something like £1,750 this would explain the high £150. In which case I would suggest downsizing your car and getting TPFT cover. Of course you should check what actual savings this would bring to you.