I rang my insurers last Friday to notify them that I had sold my car that day, and it had not been replaced, although it was likely to be within the next 4 weeks and what would be my best course of action.
My fully comp policy commenced 5/11/15, and if I were to cancel there would be no refund. There is a sliding scale of refund charges, plus a cancellation fee, so zilch refund. I am able to change the vehicle details on the policy within a 14 day period, subject to a £75 fee plus any difference in price. I bet if it's cheaper insure ( a Focus 1.6/Panda should be cheaper than a 330!) the difference will be negligable, so I'm on a hiding to nothing.
I think overall it's better to lose 6 months insurance, and end up paying for 12 months insurance but only using 6, rather than rush into buying something at this stage in proceedings.
When I was ( much) younger I often bought and sold cars literally every 3 months and don't remember this problem.
Your thoughts would be much appreciated
Happy Sunday... I'm walking over the hill to Feizor for a pot of tea at Elaine's farm cafe and a leg stretch now!
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I think it's down to comparison sites and headline prices for insurance.
Quoted figures are for teh absolute minmum and everyting else that used to be thrown in is now a costly option.
I guess yo must have read and agreed to the T&C's when taking it out :)
Last time I changed my car it was a £15 admin fee and the same for adding my brother as a named driver which dropped the price by a tenner
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I wouldn't want to ( voluntarily anyway ) be without a car. I've had one of some sort from the age of 17 and would feel bereaved without one. It wouldn't have to be much of a car, so long as it functioned, but I'd want something to get about in. I'll not take it well come the day I can't have one for whatever reason. They are just so useful, well, most of them are.
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>> I wouldn't want to ( voluntarily anyway ) be without a car. I've had one of some sort from the age of 17 and would feel bereaved without one.
'Naked' is the word I would use. I'm afraid my jalopy is all too like a woman's handbag though, for squalor and general filth.
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I think it's down to comparison sites and headline prices for insurance.
Agreed. There are other things you get too with a full fat policy, and if you've found the right one, they can still be cheaper than most, just not the cheapest.
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I 'work' locally so don't need a car in the immediate short term. We normally car share when we have trips to the Lakes, and use the train and bus a lot to get around... You can't drive to Leeds, have retail therapy, several pints, pie n peas then drive home again!
Seems like a good excuse to fly off to the sun for a few weeks
Having said that, I may have wheels within 72 hours..,
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20 years ago I was paying £400 per year for new Honda Civic 1.5 Full Comp SD&P - 10K a year, 2 drivers. I could add a 20 year old son for a week at no extra cost.
Today I pay £175 for 1 newish car, SD&P doing less 8K per year.
It costs an eye watering amount to add a now 40 year old son even although is is insured with the same company and has not claimed on his policy in 20 years. It cost £25 to change anything......mind you pro rata it is probably about 75% off the 1996 pricing.
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>>Your thoughts would be much appreciated
You could have simply allowed the policy to continue to run on the BMW and changed if/when you got another car, or simply let it run out.
Insuring a car you don't own is not against the law. Although making a claim or intending to make a claim or otherwise intending fraudulent behaviour would be.
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Interesting you should say that No FM2R. The insurers were insistent that I could not let the policy run because the car would be insured ( by my nephew) under a different policy. Yet they then told me it could run for a further two weeks after I had sold the car before they cancelled the policy, thus giving me 14 days in which to replace it.
I pointed out that this was conflicting advice and the person I spoke to advised me rather brusquely to read the T & Cs of the policy online.
To the best of my knowledge it is still insured with them.....
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They always get brusque when you ask a question they don't know the answer to. Its very difficult these days to talk with someone who understands underwriting and the law, rather than someone who simply understands how to sell the policy and operate the administrative procedures that surround it.
The moment you tried to use the policy cover you would have a problem, but until then....
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I had a similar situation (reported here) last year when I was changing cars. I picked up the BMW in the week before my Aviva policy - which also covers the LEC - was due for renewal, but also had BMW's free seven days of cover, backed by Zurich, for the new car. So for the end of that week, the new car was covered by both policies.
I went through this on the phone with Aviva, who assured me this was not a problem, provided I claimed on only one policy - which would have been theirs, having the lower excess. Indeed, they volunteered that changing the car details even three days before the renewal date would have cost me an admin fee. Not a single tooth was sucked in the entire conversation.
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>, the new car was covered by both policies.
There are a whole bunch of procedures in place to cover this, and not just for car insurance. One of the most common is where somebody has buildings and contents insurance from different insurers and there can frequently be overlap.
The insurance polices can be prioritised by precedence, direct application, chronological order and premium size amongst many other factors.
It is only when you try to manipulate them for fraudulent purposes that it goes wrong.
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BMW 3-Series E90 - Car insurance. T & Cs - martint123
