michael Posted June 14, 2007 Share Posted June 14, 2007 Policy taken out in Jan - car sold, no replacement as yet. Policy was ~£300 and paid in advance for the year. If I cancel this week I get 30% of the premium back, minus £25 cancellation fee. Pretty crap really. As it's a 2nd policy it's collecting no-claims, would it be more cost effective to leave it running on the basis of the savings made once I have 1 years NCB? Is this legal? The only thing is I'll probably get another car soon anyway and have to insure that, then I'd have 3 policies on the go and the overlap on renewals would mean the NCB would be hard to use anyway. In an ideal world I'd transfer the policy over to the new car when I get it but I'm not sure when that will be, if I leave it much longer the refund drops to 10% minus £25 in fees. Thoughts? Quote Link to comment Share on other sites More sharing options...
Mike Posted June 14, 2007 Share Posted June 14, 2007 Either get a car sharpish and put it on the policy - better value for money doing a vehicle mid term adjustment than being stung for a cancellation, or cancel the policy all together... I wouldn't run it for the sake of NCB - no-one care any more unless it's over 5 years, and any random insurance sales operator would give you NCB to just to get your business. Quote Link to comment Share on other sites More sharing options...
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