Cancelling insurance after selling car

[Simon998]

No harm in asking, all the same.

Central are a rip anyway, I’d never go with them

They were the cheapest I could get fully comp by almost £400. Pretty much the only reason I went with them.

 

[hannakournikova]

Just to bump this, is it still same situation?
Cancellation fees are more than the refund due for remaining months so potentially costs me money to cancel.
Renew due in early Jan

 

[stevieturbo]

Would it be cheaper to transfer to another vehicle ?

If you leave the policy running on a vehicle you do not own....someone could still end up claiming off your insurance. As ridiculous as that is. Insurance is like that.

 

[CharlySkunkWeed]

I'm pretty sure (Adrian Flux) can put it on a ghost reg until a new car is bought. Just not sure how long for is the only thing.

 

[NI_Volvo_Nut]

I thought you could suspend the policy until a replacement was sourced, but you know who will be able to tell you for sure.... the insurance company!

 

[Head Gasket]

Some insurers allow you to keep your accrued NCB for a year before it expires. Sold a car this week and cancelled my policy with 1stCentral. They charged a £50 arrangement fee, a £50 cancellation fee and a £25 admin fee for making an amendment during the course of the policy that otherwise would have been free if I'd kept the policy active. Daylight robbery, but they were the cheapest for the cover I wanted at the time of taking the policy out. I think it's ridiculous that you can only use your NCB on one vehicle at a time. Afterall you're the same person with the same driving history and skill regardless of what vehicle you're driving, and you can only drive one vehicle at any one time.

 

[KyleR]

Just to bump this, is it still same situation?
Cancellation fees are more than the refund due for remaining months so potentially costs me money to cancel.
Renew due in early Jan

I would give them a try and if they ask for more money to cancel let them know they won't be getting any more money out if you and you won't be held liable for any future claims resulting from that vehicle as you are attempting to cancel the policy and charging additional fees above that of the cost of the policy would not be looked upon kindly by the financial ombudsman.

 

[NickR]

Some insurers allow you to keep your accrued NCB for a year before it expires. Sold a car this week and cancelled my policy with 1stCentral. They charged a £50 arrangement fee, a £50 cancellation fee and a £25 admin fee for making an amendment during the course of the policy that otherwise would have been free if I'd kept the policy active. Daylight robbery, but they were the cheapest for the cover I wanted at the time of taking the policy out. I think it's ridiculous that you can only use your NCB on one vehicle at a time. Afterall you're the same person with the same driving history and skill regardless of what vehicle you're driving, and you can only drive one vehicle at any one time.

Some companies do allow you to mirror your NCB. Adrian Flux done it for me before as did Admiral.

 

[stevieturbo]

Some insurers allow you to keep your accrued NCB for a year before it expires. Sold a car this week and cancelled my policy with 1stCentral. They charged a £50 arrangement fee, a £50 cancellation fee and a £25 admin fee for making an amendment during the course of the policy that otherwise would have been free if I'd kept the policy active. Daylight robbery, but they were the cheapest for the cover I wanted at the time of taking the policy out. I think it's ridiculous that you can only use your NCB on one vehicle at a time. Afterall you're the same person with the same driving history and skill regardless of what vehicle you're driving, and you can only drive one vehicle at any one time.

It's because insurance is criminal, run by criminals, and you're forced to require this by criminals. And they all make huge money from it at our expense.