Allowing insurance to lapse - more expensive later?

Fr Tod Umptious

Hi
Insurance on my 16 year old car is up in just under a month.
I have a renewal quote from my current insurer that is decent, not great but decent.

I saw a better quote online.

The thing is I have declared my car off the road for tax purposes until at least end of August (working from home due to COVID, no real need for the second car)

If I don't renew, and I don't go with another quote is it possible that my quote will be much higher in a few months when I do decide to tax the car again, or will it make little difference ?

Thanks.

Eggs For Dinner

If you let the policy lapse, your current insurer may not take you back at all, regardless of price

coylemj

Your biggest worry would be that if you let the insurance lapse, nobody will write a new policy for a car that age. Your no-claims bonus can survive two years with no active policy so no worries on that front.

Fr Tod Umptious

coylemj wrote: »

Your biggest worry would be that if you let the insurance lapse, nobody will write a new policy for a car that age. Your no-claims bonus can survive two years with no active policy so no worries on that front.

Yes I was worried about the age of the car alright.

When I first insured it a year ago my current insurance company were the only quote, others were not quoting on a 15 year old car because I only owned it a few weeks at that point.

But this time round I have managed to get a quote from another broker online without any bother.

coylemj

Fr Tod Umptious wrote: »

Yes I was worried about the age of the car alright.

When I first insured it a year ago my current insurance company were the only quote, others were not quoting on a 15 year old car because I only owned it a few weeks at that point.

But this time round I have managed to get a quote from another broker online without any bother.

Every time you go looking for a quote, they ask if you have a current policy so that quote was effectively for a renewal i.e. a continuation of your current cover, even if it was from a different insurer. If there is a break in cover, your next quotes will be for a new policy, not a renewal.

Poster eggs for dinner told you that your current insurer may refuse to quote if you let the policy lapse so for that car, you may find all doors have closed if you go looking for a quote after a break in cover.

This is a bit of a penny pinching story, but it's relevant, so..

A friend of a friend of mine, who didn't really drive all that much, used to always shop around for his insurance, meaning he'd always end up changing his insurance company. whenever he went looking for quotes, he would push the policy start date out by a week or two. As far as he was concerned he was getting 'two weeks free' with each policy.

To be fair to him, he didn't drive when his insurance was out (although he didn't really have to, as he wasnt under pressure) but i presume that you could just do the same thing he did? Just get a quote again and put the start date in for a fortnight after your current policy ends? Seen as you're not using the car, it won't really matter, and that way you'll still have proper cover.

This whole thing of having to keep your insurance policy going indefinitely and never letting it lapse is a load of sihte anyway. Insurance company inventing rules to suit themselves. As if you'd have forgotten how to drive if you're not insured for a month :rolleyes:

JustAThought

I used donthat but last year took the car off the road for a few (5) months as I didn’t need it for work - turns out due to our corrupt insurance system it was a dreadful decision Half the olaces I rang point blank refused to quote me as their cut off point was 3 months - many of them wanted to know if I had been abroad or declared the car off the road - as my answer was no to both they said their terms wouod bot allow them quote. I had been insured with one company for 9 years and had a fit at them as they said I was ‘unreiable and unpreductable’ to insure - this despite 9 year house and car clean track record and full no claims. I had to go with the only quote I could get - very high - and this year because of covid and not being able to get the nct done due to the lift ststem being out of order I again had to have a minths break and went through the same nonsense with a policy about s200 higher than last year for the same bloody reason. They reLly screw you if you try to make any saving in the country at all and several refused to wuote me because I had had a months break this year - deapite the very valid reasons. As I really needed the car I took what I could get but am still seriously pissed off about it. The so called regulator is totally useless and desPite their extortion being highlighted year after year and a requirement by law no minister hd ever manned up and stood up to the industry. It is an absolute farce. etc

Eggs For Dinner

Deleted User wrote: »

This is a bit of a penny pinching story, but it's relevant, so..

A friend of a friend of mine, who didn't really drive all that much, used to always shop around for his insurance, meaning he'd always end up changing his insurance company. whenever he went looking for quotes, he would push the policy start date out by a week or two. As far as he was concerned he was getting 'two weeks free' with each policy.

To be fair to him, he didn't drive when his insurance was out (although he didn't really have to, as he wasnt under pressure) but i presume that you could just do the same thing he did? Just get a quote again and put the start date in for a fortnight after your current policy ends? Seen as you're not using the car, it won't really matter, and that way you'll still have proper cover.

This whole thing of having to keep your insurance policy going indefinitely and never letting it lapse is a load of sihte anyway. Insurance company inventing rules to suit themselves. As if you'd have forgotten how to drive if you're not insured for a month :rolleyes:

There are no days of grace on motor insurance policies. If you are happy to have no cover after 23.59hrs on your expiry date, go ahead.

JustAThought

Eggs For Dinner wrote: »

There are no days of grace on motor insurance policies. If you are happy to have no cover after 23.59hrs on your expiry date, go ahead.

He was - as it was off the road.

The issue here is being crucified and punished for it by the insurance industry/cartel.

Eggs For Dinner

JustAThought wrote: »

The issue here is being crucified and punished for it by the insurance industry/cartel.

The cartel recently replaced crucifixion with disemboweling, as too many people were beginning to post good news stories on social media about reduced premiums.

galwaytt

If its an older car, renew it. I'm.in the same boat.


After a while if its still off the road, suspend - not cancel - the road cover. And I'd only do that if there was a big amount to be saved.

Having and keeping a policy in force is more valuable as it keeps your options open.

Its a **** system, but its all we have.