Insurance due, selling vehicle?

[ModelMakerMan]

As you all know I am selling my truck. My insurance is due at the end of the month and Im a bit loathed to spend £300 on a vehicle Im trying to sell and am unlikely to drive.

Does anyone know if there are insurers who do some kind of special scheme/deal for temporary insurance for the purpose of selling a car?

 

[mrdelmonti]

Have you purchased a replacement yet? I've found that most insurers are fine with arranging an "overlap" period.

The other thing it might be worth doing is ringing your current insurer and ask if they can keep your insurance rolling on a month to month basis until it sells which I have done in the past.

Temporary insurance is expensive and is usually filled with that many exclusions that it's almost useless.

 

[piers_finlayson]

You have a few choices:
- Go for temp insurance. As already discussed, likely to be expensive.
- You could re-insure the truck and then cancel the insurance when you've sold it. You should be able to claim something back for the unused period, but there'll be an admin fee, and/or you won't get a pro-rated amount back.
- You could leave re-insuring to the last minute, and then (hopefully, if the truck is sold) cancel within 14 days. In this case you should get back the entire premium, except any pro-rated amount to cover the period actually covered. However, there shouldn't be a fee. (I say leave to the last minute because I've never been clear if the 14 day cooling off period starts from when you buy the policy, or when the policy starts - so leave till the last minute to get the maximum 14 days!)
- SORN the truck and don't reinsure. This'll make a test drive a problem shhh and trickier for the buyer to pick up (he'll need to insurance and have a print insurance of the tax plus the MOT cert to be able to tax at the post office). (Assumes you can leave off the road.)
- Don't SORN the truck, don't re-insure eusa-naughty. I've seen suggestions that it takes a month or two for the DVLA to pick up on this, but I personally wouldn't risk it. (Assumes you can leave off the road.)

 

[Shayne]

Just a suggestion but £4700 sounds a lot cheaper than £5000 and might just move it on that much quicker saving you the insurance headache ?

 

[jonnyboy54321]

I'd be thinking more along the lines of £300 versus losing £5000 if something happens to it while uninsured - doesn't have to be a motor accident - theft, accidental damage, storm, fire, you get the drift.
Plus, how will you sell it if you can't drive it on road to show a potential purchaser?
Just my two pennies.....

 

[joinerman]

I renewed my Lc in Sept £250 sold it in Oct, got £108 back !!!!!

 

[ModelMakerMan]

Dont worry Im not thinking of leaving it uninsured, Im just trying to work out the cheapest way of getting it covered till I sell it.

Who was that with Joinerman?

 

[jonnyboy54321]

Have you replaced it with something else? Or got another car?
If so, the other insurer should let you add it on as a temporary additional vehicle for a charge. Normally a month or two months max, and of course the car has to be "acceptable" to them.
Usually a lot cheaper than a renewal/new one later cancelled.

 

[karl webster]

Been here before when I had two motorbikes before I had the traders policy.

Just a word of advice,whatever you do don't not insure it even if you don't have it on the road.

I know you haven't said the above but like I did few years ago I left the bike un insured and it got stolen 2.5 k just gone in a flash.

Can't help with the above although I know you can get temp cover

 

[Lorin]

You can get insurance that gives you a pro-rata refund. You'll just pay a small admin fee nothing more. I've used several times in the past.

 

[joinerman]

It was with an insurance broker on here, i bought my Quattro before selling the Lc ( didn't think it would sell as quick as it did ) it worked out cheaper to have a separate policy for the quattro than to add it to the Lc, I've got nine years NCB to go on the Audi next year.

 

[Paddler Ed]

Exactly the situation we were in with the BMW.

We sold it just after the 14 day period ran up, but Direct Line gave us the whole premium back as we had explained the situation when we took out the policy.

Any policy can be cancelled, as others have said it depends on how much they'd like to charge you for doing so!

Stick with the full annual policy, and if you can afford to pay it one lump sum then it's often easier (ie they aren't going to mess up and carry on taking instalments from you)

 

[jonnyboy54321]

It was with an insurance broker on here, i bought my Quattro before selling the Lc ( didn't think it would sell as quick as it did ) it worked out cheaper to have a separate policy for the quattro than to add it to the Lc, I've got nine years NCB to go on the Audi next year.

JM, you are entitled to add that ncb to the current audi policy now as it is "free" ie not being used on another policy. Organise a written proof of ncb and get it straight off to them with a letter explaining the situation. Keep a copy (!).
Of course, if the Audi has been done as a mirrored introductory ncb ie they gave you an intro 60-65% then there will be no refund at this stage.
Where any difference overall will lie, is the difference in premium when you compare the limited amount of policies available with said intro discount, versus the vast volume of policies available with "true" maximum ncb which could result in a lower yearly amount.
Hope that makes sense?

 

[joinerman]

Yes it was done as a mirrored introduction so they won't put the NCB from the cruiser on till next year.