Insurance question

[Baked_bean]

Hey guys,
Weird question. I should be getting a new car in a couple of weeks . But I started my policy when i was 20 but when i update the policy with this new car i will be 21, will the new premium take into account me being 21 or will it carry on as if i am 20?

Thanks

[CraigyMc]

Baked_bean said:

Hey guys,
Weird question. I should be getting a new car in a couple of weeks . But I started my policy when i was 20 but when i update the policy with this new car i will be 21, will the new premium take into account me being 21 or will it carry on as if i am 20?

Thanks

It will be for a 21-year-old but usually insurance companies bump premiums up - hoping that you'll be a sap and accept it anyway. Every year, go looking for a new insurer if you want a good deal.

C

[Baked_bean]

I normally would, but ive only had this policy for 4 months, so just updating it for my new car.

[8400rpm]

I had a similar situation when changing my car, I switched from 24 to 25 and when they asked for more money, I said hang on I'm 25 now?

Apparently the insurance companies work on your age from when the policy starts.

I didn't bother changing at the time as I thought they were taking the pee-i. However it wouldn't surprise me if they did. Another way to try and claw back a bit of money from people that otherwise wouldn't question it.

[Paul Drawmer]

Different companies will deal with this in different ways.

Some will do premium recalculation following a mid term change which will then take into account the actual age of the main driver. Others will use the age at renewal for all calculations during that premium year.