Hey all

 

I'm sure this is pretty self-explanatory, but I just want to check!

 

I am about to renew the policy for my existing car, but my new car is on order and will hopefully arrive at Christmas. If the price when I change over isn't competitive, can I just cancel before the year is out?  I imagine their will be some penalty for doing so, but I just wanted to make sure I can cancel mid-term.

 

Cheers

Danny

You can but there's normally a fee and you won't get that year of NCB. But when I went from Mk1 to Mk2 Fabia vRS I got a £60 refund

Hi Danny,

 

Yes, you're allowed to cancel mid-term. If you're paying for your cover monthly there should be little or no charge for cancelling. If you've paid for the year up-front you're entitled to a refund which will be pro rata based on the amount of time left to run on the policy minus any admin fee they charge you for cancelling. The fee shouldn't be excessive.

 

However, if the original car policy is competitive, the charge for changing the vehicle shouldn't be prohibitively expensive compared to the rest of the market. So you may find you can stay with the policy.

 

Hope that helps.

Edited 25 September, 201312 yr by ChrisKnottIns

Thanks guys.  I thought so, but for some reason I found myself questioning it this morning!

 

Cheers

You can but there's normally a fee and you won't get that year of NCB. But when I went from Mk1 to Mk2 Fabia vRS I got a £60 refund

probably came in handy for some spare oil

probably came in handy for some spare oil

I've probably bought about £60 worth and I checked I still have 1.5l in the boot. After about 15k it hardly uses any now.

Hey all

 

I'm sure this is pretty self-explanatory, but I just want to check!

 

I am about to renew the policy for my existing car, but my new car is on order and will hopefully arrive at Christmas. If the price when I change over isn't competitive, can I just cancel before the year is out?  I imagine their will be some penalty for doing so, but I just wanted to make sure I can cancel mid-term.

 

Cheers

Danny

 

A good insurer will be able to give you a fairly accurate indication of how much the new vehicle will be to insure so you'll know what's what when you come to change.