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Sort-Term Car Insurance Hassles

in Motoring
3 replies 501 views
GrahamknottGrahamknott Forumite
6 Posts
Ninth Anniversary Combo Breaker

I have an old car which I intend to take to the local scrapyard in the near future. I will not replace it with another car for the time being. Unfortunately, my current insurance company would charge me a £75 cancellation fee, plus what appears to be "an additional amount", which turns out to be a percentage based based on the period of cover (100% in my case - i.e. a thundering lot). Oh, and I believe there's an 'administration charge' of £30 as well.

I intend, therefore, to have the car scrapped the day after the insurance policy expires. Not wishing to break the law (this after some 40 years of spotless driving), I have tried to find a short-term insurance policy, preferably one lasting just 24 hours. This would enable me to drive my car to our local scrapyard, fully insured and with a clean conscience. This, however, has proved to be impossible. Insurers like Tempcover refuse to insure a vehicle worth under £1,000 for such a purpose*. Other short-term insurers simply rule out the sale of any vehicle as part of their (many) exemptions. So it seems that I have two choices: (1) either I play the law-abiding driver and as a result, allow myself to be robbed blind; or else (2) I break the law and risk the consequences.

One lesson I have have learnt here is that it is often a false economy to go with a 'dirt cheap' car insurance company. Cheap they may appear at first sight, but put a foot wrong and you quickly encounter all manner of hidden costs lurking just beneath the surface. The old adage: 'penny wise, pound foolish' springs to mind.

Still, if anyone out there has any helpful advice concerning my present fix, I'd be very appreciative to hear it.



*My old banger isn't worth much more than a bag of sweets, I'm afraid to say.


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