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Anyone cancelled their insurance due to Covid and WFH

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  • 21-02-2021 12:59pm
    #1
    Jovetic
    Registered Users Posts: 202 ✭✭


    Have my renewal, two cars in the driveway which are rarely used, one was mainly to get me to work which isn't an issue for the forseeable. Can easily manage with one car.

    Insurance company said I can stay as named driver on wife's policy and cancel my own. As long as there isn't a break in coverage ie. Me going as a named driver I won't lose my NCB should I wish to create a new policy in the future?

    Anyone see any issues in this? Sick of being fleeced year on year by these insurance companies


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    #2
    duffman13
    Registered Users Posts: 8,946 ✭✭✭duffman13


    Jovetic wrote: »
    Have my renewal, two cars in the driveway which are rarely used, one was mainly to get me to work which isn't an issue for the forseeable. Can easily manage with one car.

    Insurance company said I can stay as named driver on wife's policy and cancel my own. As long as there isn't a break in coverage ie. Me going as a named driver I won't lose my NCB should I wish to create a new policy in the future?

    Anyone see any issues in this? Sick of being fleeced year on year by these insurance companies

    Alternate every year between your wife and yourself as the policy holder. Two years seems to be the rule when you lose your own NCB if your not a main policy holder. You will still have some experience and will get some reductions for being a named driver but not the same as having a policy in your own name. Not something to worry about now but switch names next year if you don't need the 2nd car back on the road by then


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    #3
    El Gato De Negocios
    Registered Users Posts: 6,703 ✭✭✭El Gato De Negocios


    Just suspend the policy, you will still have to pay the premium but the advantages are

    1) your bonus stays live
    2) you can keep fire and theft cover in place
    3) in an emergency you can just ring your insurer and they can lift the suspension immediately and you will be able to drive
    4) you will be entitled to a pro-rata return of premium for the duration of the suspension once its for more than 30 days

    The only downside is you have to pay for it this year but imo suspension is the better option than lapsing.


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    #4
    zg3409
    Registered Users Posts: 6,597 ✭✭✭zg3409


    My tax was up for renewal and I declared vehicle off the road (online) and did not tax it for 2 calendar months. You can retax it online in a minute if you need to go back in the road. I should have not retaxed it for 12 months as its sitting there now gathering dust.
    Might not be worth it for low tax vehicles.


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