Car insurance

[brynteg11]

Does anyone know if it is OK to take out a new car policy while your current one is active and just let the old one expire, obviously only claiming on one in the case of an accident during the overlap?

The company I am currently with charge a £25 fee to change details. My policy runs out on 27th Oct. I do not intend renewing with them as I have had much cheaper quotes with companies that  let you change details online for free. I had to pay the fee 2 weeks ago when I bought a new car. The paperwork is nearly ready to put my private plate on my new car so this would cost another £25 fee. I am going to ask how much the cancellation fee would be but I suspect it would be cheaper to start a new policy and then let the other one just run out.

But is this legal? I know you loose the NCB for that year when you cancel but as I currently have many years NCB one year isn't an issue.

Thanks for any help

[soppysofty]

Only problem I can see is that you need to have a proof of NCB which cannot be more than a year old.

The renewal letter you had last year from your insurere will have the details on it - you will need that to prove your NCB to your new insurer or you will forfit all of your NCB.

As regards having two insurance policies - it is illegal to have two policies on one vehicle but you can have seperate policies with whoever you like on seperate and different vehicles.

My advice would be to call your current insurer and explain the situation to them.  Tell them that if they insist on charging you fees then you will not be renewing with them when your policy expires.

I had the same issue when I had 3 months left on my policy and the insurance company waived the fees and reduced my premium as the new car was a lower risk.

[brynteg11]

I decided to take out my new policy from today with a company that lets you change details online for free and cancel my currect policy as there was no cancellation fee but they wanted £25 to change the reg and renewal quote was £150 more than new policy.

[brynteg11]

I need to send proof of NCB within 14 days which I will get from my cancelled policy.

[guardpig]

Just done the 2 vans due and saved rather a lot.  Another company wanted to offer insurance on all 3 vans including the one due in a couple of weeks so lost the business as not paying out twice. Sides which it has slightly differing driver requirements etc and is worth a lot more so we'll see when it comes up.