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Car insurance for three months?

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  • 16-09-2013 8:39pm
    #1
    sashafierce
    Registered Users Posts: 3,599 ✭✭✭


    This post has been deleted.


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    #2
    Scortho
    Closed Accounts Posts: 3,876 ✭✭✭Scortho


    sashafierce wrote: »
    my insurance is up the beginning of october. Im moving to canada in january. Is it possible to pay for just three months and finish or what are my options?

    You can usually get a refund of the other 9 months when you cancel and you return the disk.
    Best thing to do is ring a number of insurers and ask them yourself.
    I know liberty will refund the insurance if its cancelled for longer 28 days and the disk is returned.


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    #3
    coylemj
    Registered Users Posts: 25,394 ✭✭✭✭coylemj


    Scortho wrote: »
    You can usually get a refund of the other 9 months when you cancel and you return the disk.
    Best thing to do is ring a number of insurers and ask them yourself.
    I know liberty will refund the insurance if its cancelled for longer 28 days and the disk is returned.

    But it's seriously discouraged by the simple mechanism of paying less than a pro rata refund. Axa and Liberty for example will only refund 60% after 3 months.

    I'd be careful about asking them in advance, they may simply refuse to quote you. There's nothing illegal about taking out the policy and then surrendering the cert and disc and asking for a refund if you want to terminate it early as most companies allow it in the Ts & Cs but I wouldn't declare my intention to do so in advance.


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    #4
    Scortho
    Closed Accounts Posts: 3,876 ✭✭✭Scortho


    coylemj wrote: »
    But it's seriously discouraged by the simple mechanism of paying less than a pro rata refund. Axa and Liberty for example will only refund 60% after 3 months.

    I'd be careful about asking them in advance, they may simply refuse to quote you. There's nothing illegal about taking out the policy and then surrendering the cert and disc and asking for a refund if you want to terminate it early as most companies allow it in the Ts & Cs but I wouldn't declare my intention to do so in advance.

    True but I'd rather pay the extra premium, than be off the road for 3 months.


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    #5
    MugMugs
    Registered Users Posts: 17,875 ✭✭✭✭MugMugs


    sashafierce wrote: »
    This post has been deleted.

    Pay by Direct Debit and cancel when you're off.


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    #6
    peteb2
    Registered Users Posts: 1,813 ✭✭✭peteb2


    MugMugs wrote: »
    Pay by Direct Debit and cancel when you're off.

    Doesn't work like that. So while you may think its smart advise as the person is leaving the country anyone else reading it woudl get the wrong idea.

    The direct debit is merely to repay the finance agreement effectively in place to pay the policy. So you would still owe any difference.


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    #7
    MugMugs
    Registered Users Posts: 17,875 ✭✭✭✭MugMugs


    You pay an initial deposit and then pay over a ten month period.

    They could end up owing you money and it stops the OP having to lump up money they may not have.


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    #8
    peteb2
    Registered Users Posts: 1,813 ✭✭✭peteb2


    MugMugs wrote: »
    You pay an initial deposit and then pay over a ten month period.

    They could end up owing you money and it stops the OP having to lump up money they may not have.

    Not splitting hairs over this one. But most are less than 10 months if its your first year with them. Generally its about 20% of the annual premium at least so he ends up giving them most the money upfront eitherway. And pays 6% interest at least for the priviledge.


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    #9
    [Deleted User]
    Posts: 8,016 ✭✭✭ [Deleted User]


    Stay with the same company in any case if it's affordable. A majority of other companies will charge you on short term rates if you cancel within the first year and it can be hefty. If you stay with the same insurer in most circumstances you get charged pro rata which is just the time on cover minus the year premium is your return(minus any admin fees they have mentioned in their TOB)


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    #10
    Ciarrai76
    Moderators, Recreation & Hobbies Moderators, Regional South Moderators Posts: 9,350 Mod ✭✭✭✭Ciarrai76


    sashafierce wrote: »
    This post has been deleted.

    I took mine out with Allianz in May this year, although I was trying to sell my car at the time. I didn't know how long it would take to sell, so I had to take it out anyway. I was paying by direct debit. I Paid May in advance to them when I took out the policy, then June & July by DD. I then sold my car in July! I was able to cancel my insurance and they refunded me July's payment. Just renew your insurance, set up a direct debit, and when you are moving, just let them know and you can either suspend it or cancel it. It won't be a problem.


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