Only 6 months car insurance required. Pay monthly and cancel?

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hutchy_belfast

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Pretty much as above, we are emigrating to Canada come August and both cars will be going before then. The insurance is up on one. I've 10+ years ncb so not fussed on paying half a years insurance to earn another. Can I pay monthly for the policy and just bin it in August? Or would that affect my credit rating etc?
Cheers
 

Coog

Admin
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There'll be a cancellation fee. As long as you pay the cancellation fee then I don't see how credit ratings or anything will be hit

Enjoy Canada you lucky swine. What a place!
 

Ge0rge

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Pretty much as above, we are emigrating to Canada come August and both cars will be going before then. The insurance is up on one. I've 10+ years ncb so not fussed on paying half a years insurance to earn another. Can I pay monthly for the policy and just bin it in August? Or would that affect my credit rating etc?
Cheers
if your only going for a few years i think a big gap in credit can effect you just as bad?
 

hutchy_belfast

RMS Regular
OP
H
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7,267
Yeh 2 years and you lose it. I've had that happen on me before. We'll almost certainly be back between 1 to 2 years unfortunately. Cheers for the advice guys I'll have to have a look and make sure the cancellation fees aren't too crazy.
 

VEN©M

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You have nothing to worry about. You can cancel your policy at anytime. As some have said there may be a cancellation fee or they'll deduct it from anything they owe you. I left for 10 years, came back and my credit score was 999. I had no problems getting anything credit-related except a mortgage, it wasn't my credit score it was no UK employment history for 10 years prior, just took 6 months of steady employment. Also, not sure how old you are but car insurance was still fairly cheap with me with zero no claims and a wife driving on a foreign license. You'll be fine. Keep your credit accounts alive and well here with occasional use - just make sure there are no sneaky credit card bills or anything you let slip while you're away.
 
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