Getting car insurance for 3 months

The-Baron

Hey,

I was wondering if I can get my hands on a few months car insurance. I rang Axa and they told me I can get a refund on all months I don't use. But I'm fairly certain I won't get my deposit back.

Does anyone know a way I can just get a couple of months insurance from a random insurer?


Cheers.

Thoie

It's not exactly a deposit - most insurers charge you x% up front which is usually administration fees. It's not like the ESB or a car rental where they're holding a security deposit. If you're paying monthly, most insurers might charge €100 up front and €20 a month for 11 months after that. In that case the annual amount is €320, whereas if you cancel after 3 months you're paying €160, which covers the admin fees etc.

People in the motors forum may be able to help, but I'd imagine most insurers charge on that kind of basis.

Edit:
If you don't own the car, it might be possible to add another driver (you) to an existing policy. I added my mother for a few months at one stage as I wasn't going to be able to drive - my insurer at the time just charged me a one off €40 for the paperwork.

dudara

Better suited to Motors - moved accordingly

dudara

bazz26

The best thing to do probably is sign up to pay it in monthly instalments rather than up front for 12 months, then cancel the policy and direct debit after the 3 months are up.

eyesofvenus

bazz26 wrote: »

The best thing to do probably is sign up to pay it in monthly instalments rather than up front for 12 months, then cancel the policy and direct debit after the 3 months are up.

+1

coylemj

bazz26 wrote: »

The best thing to do probably is sign up to pay it in monthly instalments rather than up front for 12 months, then cancel the policy and direct debit after the 3 months are up.

Not a good idea.

When you sign up for instalment payments what you're actually doing is taking out a loan to pay the annual premium. You are legally obliged to pay this loan and it is not related to the use of your car but rather to the fact that the finance company have paid the insurance the premium so they don't care how many months insurance you wanted in the first place and you still owe them (finance company) the money even if you throw the cert and disc back into the insurance company after three months.

eyesofvenus

coylemj wrote: »

Not a good idea.

When you sign up for instalment payments what you're actually doing is taking out a loan to pay the annual premium. You are legally obliged to pay this loan and it is not related to the use of your car but rather to the fact that the finance company have paid the insurance the premium so they don't care how many months insurance you wanted in the first place and you still owe them (finance company) the money even if you throw the cert and disc back into the insurance company after three months.

Not for me its not. With quinn direct i can cancel anytime with 14 days notice as long as there are no arrears. And i just have to hand back disc and cert.

http://www.quinn-direct.com/documents/policydocs/motor_policy_roi.pdf - page 16

coylemj

eyesofvenus wrote: »

Not for me its not. With quinn direct i can cancel anytime with 14 days notice as long as there are no arrears. And i just have to hand back disc and cert.

http://www.quinn-direct.com/documents/policydocs/motor_policy_roi.pdf - page 16

And after 3 months they will only refund 60% of the premium, you missed this paragraph....

If the amount you have paid does not cover the premium according to the rates, we have the right to recover the money that you owe.

So say the policy costs 1,000 for one year and you're paying 83.33 per month (assuming no charge for instalment payments), if you cancel the policy after three months the refund on the annual premium amounts to 600 so the charge for three months is 400 but you've only paid them 250 so you owe them 150 and they can come after you to recover it - you supplied the Ts & Cs.

There is no straight line or 'pay as you go' payment method with no penalties for early exit because if there was people would be jumping ship and signing up for a different policy as it suited them at the drop of a hat. It doesn't pay any of the insurance companies to facilitate pay as you go insurance.

oldyouth

If you cancel your direct debits, Insurers have to exercise the '7 day cancellation' clause under the policy in order to terminate the contract. Next time you go to get cover, there will be a question "Has any insurer ever cancelled a policy on you previously?" If you answer No, then you have misrepresented your circumstances

stevermick2003

coylemj wrote: »

Not a good idea.

When you sign up for instalment payments what you're actually doing is taking out a loan to pay the annual premium. You are legally obliged to pay this loan and it is not related to the use of your car but rather to the fact that the finance company have paid the insurance the premium so they don't care how many months insurance you wanted in the first place and you still owe them (finance company) the money even if you throw the cert and disc back into the insurance company after three months.

Definitely one of the dumbest things I have read in 2010.

Anan1

stevermick2003 wrote: »

Definitely one of the dumbest things I have read in 2010.

Rather than just throwing around insults, would you care to substantiate your point?

barura

Sorry to bump this lads, but did anyone ever come up with a solution for this? Getting 3 months insurance would be quite deadly for my circumstance.

johnb25

barura wrote: »

Sorry to bump this lads, but did anyone ever come up with a solution for this? Getting 3 months insurance would be quite deadly for my circumstance.

Did you ask any insurers? I would suggest phoning a broker and getting their opinion. I think the suggestion above of taking out a year's policy and cancelling is the way to go. You may not get a full 3/4 premium refund, but then for most things you pay more pro-rata for a part of the whole.

As pointed out above taking out a monthly payment plan and reneiging on the payments is not a good idea.

Eric Cartman

I took out a policy with quinn, canceled it after 2 weeks and i got half the initial 'deposit' paid back , ended up costing me about 100 euro in total for 2 weeks (the premium was 1200 euro)

Barr

You can only get annual policies , Your best bet is to phone around and ask for the Insurers cancellation policy. Go on direct debits and cancel after the 3 months.

rocky112

The car insurance for 3 months is often beneficial for people who will drive for limited period. The best option you can go for "pay as you go" insurance and it automatically renew. You can also speak to your local broker who will be able to advise you further.

keithclancy

stevermick2003 wrote: »

Definitely one of the dumbest things I have read in 2010.

He's right actually ... everything costs more monthly.

hentaj123

hi i wanted to ask i am with axa insurance i am 22 years old i am driving with peugeot 206 1.1
and i get papers to pay 142 euro per month i thing i make some wrong when i registered ... i have the insurance nearly 2 months so can cancel it?? and get back my depossit??? please text back thank you

djimi

hentaj123 wrote: »

hi i wanted to ask i am with axa insurance i am 22 years old i am driving with peugeot 206 1.1
and i get papers to pay 142 euro per month i thing i make some wrong when i registered ... i have the insurance nearly 2 months so can cancel it?? and get back my depossit??? please text back thank you

You need to talk to Axa. There is no deposit when you pay for insurance; you pay an amount up front and then a monthly payment. You wont get the up front amount back if thats what you mean.

biko

You can start a new thread if you wish but really it's best to speak to Axa.


Old thread lock.