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Gap in insurance

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  • 17-02-2021 9:00am
    #1
    Gestureapo
    Closed Accounts Posts: 61 ✭✭


    If you're with the same insurer for years what happens if you have a gap in Insurance?

    Thinking of getting rid of the car but maybe a few months before I purchase again

    Have 10 years continuous cover , no claims or points?

    Would the break in insurance cost me more than i'd save?

    Thanks


Comments

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    #2
    theteal
    Registered Users Posts: 7,593 ✭✭✭theteal


    If it's less than 2 years, you wont lose your NCB. There are zero issues with having a gap between policies. Sure I have several gaps along the way from letting policies expire to get the best price from the same insurer.


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    #3
    Gestureapo
    Closed Accounts Posts: 61 ✭✭Gestureapo


    theteal wrote: »
    If it's less than 2 years, you wont lose your NCB. There are zero issues with having a gap between policies. Sure I have several gaps along the way from letting policies expire to get the best price from the same insurer.

    Would cancelling be seen the same way as letting the policy expire?

    I have the full NCB


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    #4
    theteal
    Registered Users Posts: 7,593 ✭✭✭theteal


    Gestureapo wrote: »
    Would cancelling be seen the same way as letting the policy expire?

    I have the full NCB

    If it's you doing the cancelling I don't see an issue. Obviously you'll be relying on the last proof of NCB cert you've received when purchasing any new policy in the future.


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    #5
    cplwhisper
    Registered Users Posts: 797 ✭✭✭cplwhisper


    theteal wrote: »
    If it's less than 2 years, you wont lose your NCB. There are zero issues with having a gap between policies. Sure I have several gaps along the way from letting policies expire to get the best price from the same insurer.

    Be sure to explain to your insurer that due to what your circumstances are that you have, that you may have to cancel but that you plan to return in the future to them.
    That way they will give you pro-rats rate if cancelling iutrught or offer suspended cover if it’s a matter of months you need therefore not GAP period.

    If you cancel and bot say why cancelling they’d assume you have gone to other insurers and if coming back in future months they will want the other ncb or letter of experience. Sounds stupid scenario but happened regular when I was staff.


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