Cancelling insurance once car is sold?
Discussion
Pretty much what Zaphod said. Insurers will allow a short period for you to change the vehicle. If you leave the policy as is with the car being sold to someone else it will still be showing as your policy on the MID. This could potentially cause problems if the vehicle in question is involved in an accident.
If the new purchase is pretty much impending then you should be fine, just have a chat with the insurers
If the new purchase is pretty much impending then you should be fine, just have a chat with the insurers
phil_cardiff said:
Can you keep the insurance policy open until you buy a new car, then change the details, rather than cancelling and starting a new policy?
The only downside I can see is if the new owner crashes it and isn't insured and the 3rd party clams from my insurance, if that is possible?
I've transferred policies as I've changed cars three times now, each time with different insurers. First time I paid an admin charge, second time I was given a partial refund (306 to Metro after the 306 died), and the third time I had to pay extra on the policy to make up the difference (Metro to MR2).The only downside I can see is if the new owner crashes it and isn't insured and the 3rd party clams from my insurance, if that is possible?
This has been with Endsleigh, Admiral and First Central (not in that order).
V8mate said:
This is the correct answer. And if you reach the end of the policy without having applied a new car to it, they will refund for the period where no car was applied.
Unless it's the company that gives 15% discount to PH, in which case a million and one charges suddenly get applied and you're way out of pocket!Stef
V8mate said:
Stefan DS3R said:
Unless it's the company that gives 15% discount to PH, in which case a million and one charges suddenly get applied and you're way out of pocket!
Stef
Indeed. And I'm not convinced that discount exists either.Stef
Gassing Station | General Gassing | Top of Page | What's New | My Stuff