Sold car - car insurance?

dunneg

Hey, looking for some advice on Car Insurance.


I sold my car and need to know what is the best thing to do with my car insurance.


I don't know when I will buy a new car- could be two weeks, could be two months.



But I will be getting something down the road when the right car comes available.



What's the best move on my car insurance?

Don't want to lose my No Claims Bonus.


thanks

Cheensbo

Not sure if it's the right thing exactly but, I would do nothing, and notify them of a change of car when you get another.

Gaps, even a gap of a few weeks seem to be an issue these days..

Spook_ie

If you don't notify them, then the new owner will have a vehicle on your insurance.

Most companies will allow you to pause insurance for a month or two, but also most companies will lose the NCB after 2 years, so best advice talk to the insurer

Queasy Tadpole

Cheensbo wrote: »

Not sure if it's the right thing exactly but, I would do nothing, and notify them of a change of car when you get another.

Gaps, even a gap of a few weeks seem to be an issue these days..

What?


Most companies will allow two whole years of no insurance and you'll still have your no claims. People stop and start driving all the time.


Either pause or cancel the insurance.

Cheensbo

Spook_ie wrote: »

If you don't notify them, then the new owner will have a vehicle on your insurance.

No they won't, the insurance is the person not the car.

Queasy Tadpole wrote: »

What?


Most companies will allow two whole years of no insurance and you'll still have your no claims. People stop and start driving all the time.


Either pause or cancel the insurance.

You haven't tried recently then I take it, I had a decent shot of hardship recently over a 3 week gap on a commercial policy.

Spook_ie

Cheensbo wrote: »

No they won't, the insurance is the person not the car.



You haven't tried recently then I take it, I had a decent shot of hardship recently over a 3 week gap on a commercial policy.

I didn't say they were insured to drive that car under your insurance, I said they would have a car that was still under your insurance. Now suppose there was a theft claim on the vehicle, the vehicle is then subject to two policies, a whole heap o'****e to sort out.

Not to mention if the Gardai check up on the registration and find it's still on your insurance during a routine check point. No idea if you'd get a problem but pretty sure the new owner isn't going to be best pleased!

Eggs For Dinner

If the new owner doesn't arrange insurance and you maintain cover on it, you could be in for a heap of problems in the event of an accident

Eggs For Dinner

Eggs For Dinner wrote: »

If the new owner doesn't arrange insurance and you maintain cover on it, you could be in for a heap of problems in the event of an accident

Nonsense, absolute poppycock. The correct thing is to do nothing, if you really feel like it you can tell your insurance company that you've sold the car but it will make no difference in the slightest.

What you can't do: suspend/pause/etc your insurance policy because the minimum period for doing so is 3 months.

Eggs For Dinner

[Deleted User] wrote: »

Nonsense, absolute poppycock. The correct thing is to do nothing, if you really feel like it you can tell your insurance company that you've sold the car but it will make no difference in the slightest.

What you can't do: suspend/pause/etc your insurance policy because the minimum period for doing so is 3 months.

It's not nonsense. Look up the principle of "Insurer Concerned". I'm not saying you will be held liable, but the MIBI trail will find a path to an active policy and it can be difficult to resolve. Also, you are obliged to inform your insurer of material changes and selling the subject matter of the policy is material

coylemj

dunneg wrote: »

I sold my car and need to know what is the best thing to do with my car insurance.

I don't know when I will buy a new car- could be two weeks, could be two months.

Return the cert and disc and ask them to suspend the policy. Your no-claims discount has a shelf life (with no active policy) of two years so based on the timeline you've mentioned, you have nothing to worry about.

Eggs For Dinner

Eggs For Dinner wrote: »

It's not nonsense. Look up the principle of "Insurer Concerned". I'm not saying you will be held liable, but the MIBI trail will find a path to an active policy and it can be difficult to resolve. Also, you are obliged to inform your insurer of material changes and selling the subject matter of the policy is material

Wrong again. Look at the back of your insurance policy documents. Vehicle registration X provided you, your spouse or partner are the legal or registered owner of the car. As the OP is neither.....

Eggs For Dinner

Have it your way. I've given my opinion

tcawley29

Jeremy Beagle wrote: »

Nonsense, absolute poppycock. The correct thing is to do nothing, if you really feel like it you can tell your insurance company that you've sold the car but it will make no difference in the slightest.

What you can't do: suspend/pause/etc your insurance policy because the minimum period for doing so is 3 months.

You're so wrong it's not even funny.

If there is a claim because of fire the OPs policy and the new policy will split it down the middle, same for theft and same for third party damages as liability is split between the two policies.

Also regarding suspending the policy, I have done it for a 2 or 3 week period before. I believe the underwriter was Aviva at the time.

In future, please don't spread false information just to get your post count up

dunneg

coylemj wrote: »

Return the cert and disc and ask them to suspend the policy. Your no-claims discount has a shelf life (with no active policy) of two years so based on the timeline you've mentioned, you have nothing to worry about.

thanks buddy.


some clarity in a whirlwind of noise.