Help with renewing car insurance when buying a new car very soon?

November 23, 2017 · Posted in FAQ 
car insurance
Pickle asked:

My car insurance is due for renewal in the next couple of weeks but in June we were planning on buying a new car. What is the best way to deal with this situation? If I buy new insurance, do I just transfer it across to a new car and pay extra if it costs more? Will I have to stick to the same insurance company because a different car may cost a lot more to insure with them?

Car Insurance Search

Comments

No Responses to “Help with renewing car insurance when buying a new car very soon?”

  1. Jeff on May 16th, 2010 9:30 pm

    Had a similar experience myself.

    Bottom line, renew the insurance (assuming you cant find cheaper elsewhere) and when you buy the new car either transfer the insurance (this can be an increase in cost of a refund depending on the car you’re buying) or if you find a much better insurance, simply cancel the existing policy this will refund the amount due for the time remaining.

  2. Old Folkie on May 19th, 2010 12:56 pm

    If you are keeping your current car on the road until you buy the new one, you must also keep the insurance cover current. When you have bought your new car, a simple phone call to your broker will be enough to transfer the insurance to the new vehicle. They will advise you of any change in premium. Alternatively, you can check out one of the price-comparison websites for insurance for the new car to start from the day of purchase and cancel your existing policy on that date. Ask for a quote from your existing provider as they are all out to keep their customers, you may be surprised at the deal they can offer.

  3. Timbo is here on May 21st, 2010 3:36 am

    1 – normally when you get the new car you just have the policy altered and pay a difference or get a part refund if the premium for the new car is different.

    2 – early cancellation of a car policy nearly always means that you pay penalty and admin costs that would most likely outweigh the difference in premiums

Leave a Reply

You must be logged in to post a comment.