Swapping car insurances

[mazdajason]

Morning,

One of my colleagues has found a new car she wants to buy. Her current insurer won't insure her on her new car (going from a 1.0 Fiesta to a 2L Golf Diesel) so she wants to take out a new policy with a new Meercat company. Her current policy ends in 8 weeks time but she can pick up the new car in the next fortnight trading in her Fiesta for the Golf.

Can she take out a new policy with a new insurance provider and just let the old policy lapse without any penalty? Her current Fiesta insurer is telling her she needs to cancel the policy and pay a £55 charge, to let the policy lapse will cost her £64 for the next 2 months payments (although she pays yearly her total cost divided by 12 months would be £64)

T.I.A

[imdeman87]

2 realistic options for her:

- either cancel the Fiesta policy, incur the cancellation charge and insure the Golf on a new policy (she will lose her potential NCB for this year though)

- or ask the dealer to hold on to the Golf for an extra 6 weeks so that her Fiesta policy runs for the full year (thus getting an extra 1 year NCB and potentially a cheaper policy for her Golf, but may lose out on part-exchange value). If they're a good dealer, then they shouldn't have a problem with this.

Letting her current Fiesta policy lapse isn't a good idea because a claim could be made on her policy within those 6 weeks, especially if it's sold very quickly.

See here for a similar problem: https://www.pistonheads.com/gassing/topic.asp?h=0&...

[Blanchimont]

Alternatively, as the new company won't insure, see if they'll honour a years ncb.

[mazdajason]

Thanks guys, appreciate it. I've passed this thread on

[Scootersp]

Classic insurance 'charge'

You want to end the policy early and have to pay a £55 fee? So for someone to just tick a box saying no longer insured, which would take less admin time than the call made to inquire about it! Also insurance company can relax about any possible claims, if you go "no not paying that fee" then they are exposed for the remainder of the policy?

It's one thing to not refund anything of the policy back but to charge to close/end a policy is to me a piss take. Unless someone in that line of work can justify a cost in this instance?

[HJMS123]

The exact same thing happened to me when I got my new car last month however the current insurer said they wouldn't charge me the admin/cancelation because it wasn't me wanting to cancel the policy it was them.

You will lose out on that years no claim bonus but I'd strongly push that they remove the cancellation fee.

[Ninja59]

Same thing happened with my dad's new car (although same insurer), it was due for renewal, dealer were more than willing to hold it for the time required until the new policy was in action. He picks the new motor up at the weekend (V60 Polestar).