Car insurance question?

Discussion in 'Motoring' started by FaxFan2002, Jul 16, 2019.

  1. FaxFan2002

    FaxFan2002
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    Quick question here - currently have a car on lease, which is currently scheduled to be returned in a couple of weeks, however my new car will arrive before then.

    As I understand it the NCB/NCD can only be applied to one car at time(?) my current thinking is to insure the new car with zero NCB/NCD and when the old is returned do a mid term adjustment to apply the NCB/NCD.

    Does that sound right or am I missing something?
     
  2. mikeysthoughts

    mikeysthoughts
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    Sounds about right, just don't expect any discount on the new policy after admin fees for a mid term change have been applied!

    Alternatively, speak to Admiral. Their multi car policy allowed me to add NCB to a new policy without cancelling the previous one.

    Or, depending on how long the overlap is, you might find that cancelling within the cooling off period and taking out a new policy might be more cost effective.
     
  3. tommitch

    tommitch
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    Can the lease company not take the car back beforehand?
    Will you be driving your new car as soon as it arrives, or will it sit there for 2 weeks while you carry on with the lease?
     
  4. IronGiant

    IronGiant
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    Last time I had an overlap I transferred my policy to the new car and paid a weekly fee to keep the old car on the policy until I got rid of it. It would work out expensive if it was more than a couple of weeks but was very convenient.
     
  5. zeppelino

    zeppelino
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    Contact the lease company and see if you can drop car back early? Admin fees et al will make the changes expensive.
     
  6. FaxFan2002

    FaxFan2002
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    It all seems to work out in favour of keeping the old car (just), the insurance on the new car is about £110 more than it would be without the NCD (£25 to update with NCD) but the return figure on the old car is £165. I guess I'll just leave the old car on the drive until the lease expires - it's only a few weeks.
     
  7. Bl4ckGryph0n

    Bl4ckGryph0n
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    They will charge you to return it early whilst you keep paying your obligations? That doesn't make any sense to me...
     
  8. John7

    John7
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    Just add the new car to the existing insurance until the old one goes back.

    Don’t forget that the CIE Law makes it illegal to keep a car without valid insurance (even if on a private driveway) unless it has been declared SORN to the DVLA
     
    Last edited: Jul 18, 2019
  9. FaxFan2002

    FaxFan2002
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    It contracted until the beginning of September, so to return it early I still have to pay until the end of the contract and probably some admin rubbish in there as well...
     
  10. FaxFan2002

    FaxFan2002
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    I'll have two insurance policies, one for the existing car and a new one (without the NCD) for the new car. So both cars will be insured. The existing insurance company won't insure the new car (on the same policy) based on it's value and I don't want to have another 12 months with them - they have some very strange exclusions which I didn't initially pick up on.
     
  11. Bl4ckGryph0n

    Bl4ckGryph0n
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    Yes, I wasn’t suggesting you didn’t have to pay until the end. But picking it up early and still getting paid seems a win for them. I find it odd to get penalised for that. Makes your driveway and insurance also simpler.
     

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