Insurance rant !!!!

[XIIVVX]

I thought I was pretty savvy on the insurance industry and its tricks but I have been caught a good one.

I always knew I would be selling the 996 this year, mentioned it to my broker at renewal (February) accepted his quote of £520.

Sold the car at the end of September - 2/3rds of the way through the policy's life and guess what?

Early cancellation fees have 'eaten up' the £170 or so that I would have expected to get back.

Stupid.. I should just have left the policy running and then changed the vehicle when the new one was finalised.

Grrrrr!

 

[yippeekiay]

yep, been caught by that one in the past myself.

As you said, keeping it then changing the vehicle on the policy would have been the way to go or try and change vehicles to coincide with the end of an insurance policy so your only losing a few days or weeks at most.

No comfort but I'm sure that £170 will be absorbed easily enough now your paying much cheaper tax and insurance on the new car :wink:

Just think of poor me having to stump up £490 in tax alone for my RX8 in December when I hardly drive the damn thing :lol:

 

[XIIVVX]

I know, that's always the problem with a toy. My next one will be tax exempt!

 

[Perfect Dark]

Yup! known about this for a while, I had a similar problem when I knew I was buying a puma and was trying to insure my old car but make sure I could switch the insurance to a puma for a reasonable sum. It was an absolute nightmare and many wouldn't insure me on a 1.7 even with 4 years no claims bonus.

I think I ended up making sure the timing was right for selling/buying so I didn't have to bother with this faff... honest guv.