Switching insurance question?
Discussion
Silly insurance question but currently I have a cheap and cheerful car that cost me just over £1000 to buy 3 years ago. I renewed my insurance policy in December.
The issue is I am planning to possibly change to a much nicer car this month and with my current insurance provider the quotes are coming back almost 6x my current price.
So how do I transfer over my NCB from cheap car to nice car as I will need to go with a new insurance provider? I was thinking of doing the following:
1. Phone current insurance provider of cheap car and let them know I want to cancel the policy
2. When I go to buy the much nicer car, phone the new insurance provider and tell them of NCB
3. They ask for proof which I then send if needed?
The only issue is if I need to use the cheap car to physically get the nice car, how would I be able to do the above, sounds like a lot of faffing about ringing various people.
Any help would be appreciated. Thanks
The issue is I am planning to possibly change to a much nicer car this month and with my current insurance provider the quotes are coming back almost 6x my current price.
So how do I transfer over my NCB from cheap car to nice car as I will need to go with a new insurance provider? I was thinking of doing the following:
1. Phone current insurance provider of cheap car and let them know I want to cancel the policy
2. When I go to buy the much nicer car, phone the new insurance provider and tell them of NCB
3. They ask for proof which I then send if needed?
The only issue is if I need to use the cheap car to physically get the nice car, how would I be able to do the above, sounds like a lot of faffing about ringing various people.
Any help would be appreciated. Thanks
If it were me I’d wait until you are ready to drive the new car home then before this ask your existing Insurer to duplicate cover on the new car and also keep the insurance on your old car until sold.
Obviously if you are partex the old car this is simpler as you only need the overlap on both cars for say a morning.
Then shop around for a cheaper quote or do that now and tell your existing insurer you are looking at them to match that or you will move.
But don’t cancel yet.
Obviously if you are partex the old car this is simpler as you only need the overlap on both cars for say a morning.
Then shop around for a cheaper quote or do that now and tell your existing insurer you are looking at them to match that or you will move.
But don’t cancel yet.
alscar said:
If it were me I’d wait until you are ready to drive the new car home then before this ask your existing Insurer to duplicate cover on the new car and also keep the insurance on your old car until sold.
Obviously if you are partex the old car this is simpler as you only need the overlap on both cars for say a morning.
Then shop around for a cheaper quote or do that now and tell your existing insurer you are looking at them to match that or you will move.
But don’t cancel yet.
I don't think they will duplicate the cover over as the car value, power, FWD to RWD etc is a huge step up. I don't mind holding onto the cheap car for a few days as WBAC will only give £700 for it. I could drive it around under Third party fire and theft? Then maybe selling for £700-£1000.Obviously if you are partex the old car this is simpler as you only need the overlap on both cars for say a morning.
Then shop around for a cheaper quote or do that now and tell your existing insurer you are looking at them to match that or you will move.
But don’t cancel yet.
Get your proof of No Claims from your last renewal, use that to buy a new policy from whoever is cheapest (via a comparison site, for example)
You 'lose' however many months NCB you've earnt this year, but that will be the price to pay for getting onto a cheaper deal with a new insurer.
You 'lose' however many months NCB you've earnt this year, but that will be the price to pay for getting onto a cheaper deal with a new insurer.
New insurer will probably give you 7 days to provide your proof of NCD.
Set up the new policy with them on the new car, cancel the insurance on the old car, send proof of NCD - which your previous insurer should send you on cancellation - to the new insurer.
Remember your NCD is only at the level it was at renewal in December as you haven't earned another full year yet. Effectively, you're throwing away these few months you've been on cover and starting the year afresh.
Set up the new policy with them on the new car, cancel the insurance on the old car, send proof of NCD - which your previous insurer should send you on cancellation - to the new insurer.
Remember your NCD is only at the level it was at renewal in December as you haven't earned another full year yet. Effectively, you're throwing away these few months you've been on cover and starting the year afresh.
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