Annual or temporary Insurance?

[poolcued]

I need insurance for a few days to sell a high-value vehicle. Trouble is, the prices for temporary insurance are expensive. Is there anything stopping me from taking out a much cheaper annual policy and then cancelling it within the 14 day 'cooling off' period?

Of course, I accept I will probably have to pay a cancellation fee on top of a daily cover fee, but even with these it should still be significantly cheaper.

Cheers.

[phil4]

I don't believe so.

You might find it a lot of faff... for my toy car I need to send in copies of driving license, spec, proof of NCB, tracker certificate etc.

You'd also need to own/be it's registered keeper.

But if you can do all that, as though you own it, I don't see why you couldn't insure it normally, and cancel when you stop owning it. Either as you say within 14 days, or even later... getting a prorata fee back usually.

[martinbiz]

phil4 said:

I

You'd also need to own/be it's registered keeper.
.

You might want to check that

[TwigtheWonderkid]

If you make a claim during the few days you have the car, you won't get any refund on your annual policy.

[phil4]

martinbiz said:

You might want to check that

You'll need a financial interest in it. Yes, I know there's a distinction between registered keeper and owner. And that Lease cars and PCP'd cars are treated specially. My point is more that unless he has some special arrangement (motor trader), or is essentially the owner (or lease, PCP), he's going to struggle getting insurance.

[poolcued]

No, it's mine. It was inherited and I can't run 4 cars. Thanks for the replies all.

[dxg]

phil4 said:

martinbiz said:

You might want to check that

You'll need a financial interest in it. Yes, I know there's a distinction between registered keeper and owner. And that Lease cars and PCP'd cars are treated specially. My point is more that unless he has some special arrangement (motor trader), or is essentially the owner (or lease, PCP), he's going to struggle getting insurance.

What about day insurance? I've used that a couple of times to test drive a car someone's selling privately. It's not mine, but I do have a liability towards the owner...

[Ziplobb]

why do you need it to sell it ? plenty of unisured cars are sold let the buyer come to you if they want to test drive let them get the relevant insurance

[poolcued]

It's currently garaged around 130 miles from me and recently out of MOT. Once it's MOT'd, I'm selling to a dealer in Warwick, around 200 miles the other way.

Due to distance, inevitable traffic and other commitments, I'll probably spread the logistics out a bit, hence daily insurance potentially working out more expensive.

[meatballs]

Dealer is/has an MOT test centre? Or one nextdoor/nearby?

Skip faffing around getting MOT done yourself as you will be driving to the test centre. Sounds like a day trip, maybe stay overnight.

Or consider a vehicle moving company - man with a trailer?

[Redline88]

OP - yes you can just take out an annual policy - assuming you cancel within the 14 day cooling off period then you shouldn’t have to pay any cancellation charges - just the premium pro-rata for the days used.

Of course as pointed out above, if you were to make a claim during this period then you would be liable for the full annual premium.