Insurance - No car to insure?

[anonymous-user]

Hi all.

My car is for sale at the moment, and currently I don't have another to replace it.
If I sell my car, does my insurance get cancelled? Or is there some kind of "retainer" period until I buy another car?

Thanks

[DanGPR]

You have to call them and let them know you no lomnger have the car.

Although, if it was in it's last month or so of insurance, I would leave it to run to get the NCB.

[2slo]

When you sell your car, call your insurer and ask for the comparison between a refund and holding your remaining insurance cover frozen. They will have small print covering admin charges which apply to cancellations which may mean that suspending cover (assuming you've paid the full years premium and you intend to buy onother car fairly soon) could be the best option. Also if you intend getting another car, get a quote from your current insurer and compare that with other quotes. Factor that into your decision.

[anonymous-user]

Thanks guys. Sounds like "freezing" my cover is what I want to do.

[Flat6time]

I had this last month.

Admiral put the policy on suspension till I found a car I wanted, then when you do find one, the days that have passed while on suspension are calculated pro rata and discounted from the new premium. found car,kept ncb and all was well.

However, if you get to the end of your annual policy and don't find a replacement your policy lapses. Then you get a rebate (minus cancellation charge) and iirc you loose your ncb. (but could be wrong on that bit)

The only down side was when you are on a suspended policy, you loose the 3rd party on other vehicles bit which could make test driving a private sale motor a bit iffy.

[anonymous-user]

Flat6time said:

The only down side was when you are on a suspended policy, you loose the 3rd party on other vehicles bit which could make test driving a private sale motor a bit iffy.

My insurance doesn't cover that anyway, so nothing lost.

Thanks guys, this is exactly what I was hoping the situation would be!