selling car - cancel insurance?

[Ian Geary]

Evening all

I am hopefully selling my car tomorrow, after a test drive. As the driver to be is under 25, he will be 3rd party on his insurance when test driving (as my fully comp. policy is 25+)

As the chap is pretty sure he'll buy it, he's told me he'll add it to his insurnace first thing.


However, a voice mail to my mobile tonight from him says I have to cancel my insurance first thing, as there can't be more than 1 insurance policy on a car.


Now, I've been at the pub tonight, and have had approximately "some" beers, and so am after the PH collective wisdom to see me straight.


In my view, there can be more than one policy on a vehicle. I sold a motorbike, and didn't cancel the policy, as the refund was like £2. But some new chap must have taken a policy out on it wihtout problems?

Also, I have 10 years NCB on my policy, with over 9 months to run. I want to tranfer it to a new car, not cancel it!

Finally, the car needs to be under my insurance when I take it for a test drive.


So, can anyone substantiate the need to cancel an insurance policy before a new owner can buy insurance cover for a car?

As far as I can work out, as soon as I stop owning the car, any accident will be the liability of the new owner, who will have his own, new insurance cover, who is driving the car legally etc..

But until the point I sell it, the liability is mine to ensure any driver is covered by an insurance policy.

I've certainly had no trouble in the past buying insurance for a "new" car and having to get the previous insurance cancelled.

cheers

Ian

[Jonny_693]

There must be some leighway it's an everyday occurance. I certainly wouldn't cancel the insurance on my car on the basis that someone MIGHT buy it the next day. What if it was stolen between now and then? I'm also pretty confident until you are 25 (and I am 25) you have no entitlement to drive a car third party on a fully comp policy, so if he totals it on the test drive your screwed.

[GreigM]

He can insure it no problem - just tell him you've cancelled and do it in your own time.

Check with your insurance company first before you cancel - mine recently tried to charge me £52 to cancel a policy, which would leave me owing them money to cancel...so just let it run.

[Pcot]

Technically, you can't have 2 policy's onb the same vehicle. However, a couple of days overlap between owners would not be a problem.
Keep it insured until you no longer own it.

[carmonk]

Madness. You don't cancel the policy until you no longer own the car.

[R1 Loon]

Who the hell rang you to say that?

First off the prospective purchaser should not be able to technically insure your car as e is not the registered owner and keeper of the vehicle.

You could add him to your insurance if you wanted, but I guess the 25+ aspect rules that out.

You could suspend your insurance between cars most insurers are happy to do this, as long as the gap between cars isn't more than a couple or weeks, or you could cancel it, as you already have the maximum allowable of NCD of 5 years. All the extra years mean nothing in term sof further discount, so 10 or 11 years matters not.

Best option is to let him test drive it on his Driving other Vehicles TPO cover havingpaid you upfront in cash for your car, just in case he trashes it.

[Ian Geary]

cheers guys

I'm glad I'm not the only one who finds this a bit surprising.

I'll get some form of guarantee off him before he drives it (my car isn't worth all that much to be honest) but I'll hold off calling the insurance people until the deal is done.

what time is it in India anyway?


Ian

[bazking69]

Don't cancel until he has bought, paid and cleared.

[Alexdaredevilz]

Put him on your insurance for a day? normally free if I need a friend on mine,

Then again, if you don't know him, don't trust him and take him out in the car with you driving.