Insurance

[Polly1959]

We have a camper which we will be selling shortly so don't want to insure for another year. Any ideas whether short term insurance cover is available anywhere?

Many thanks

Polly

[handyman]

ask your existing insurance company?

[enodreven]

Hi,

 

Try NFU http://www.nfumutual.co.uk/ they may be able to help

[Guest Tracker]

Many insurers will apply 'short term' rates to short term insurances - but not all - and if you have been with them for at least a year why not phone them and ask if they will just charge you a pro rata 'time on risk' premium.

 

You will have to pay in full probably but they may let you pay in instalments and you simply stop paying when cover is no longer needed.

 

That strictly speaking is a bit iffy as it is still an annual contract and they will technically still be allowed to charge you any extra that they feel like to cover their 'costs' (none) - and they not be very cooperative when it comes to proof of NCD. I would always do it legally and with their blessing rather than bend the rules.

 

Make it quite clear that you are selling for personal reasons and not just using it as an excuse to switch to a cheaper company and don't forget to ask for a written proof of NCD at the end just in case you do want to get another vehicle in the next three years.

[Mel E]

Why make it complicated? Simply renew the insurance as normal. When you come to sell, all reputable insurance companies will give you a pro-rata refund less a deduction for admin costs. If in doubt, phone them and ask what happens if you need to cancel the policy part way through. You normally also retain your level on NCB for a couple of years, so can restart later.

 

This will NOT work if the insurance is in its first year, since they are still paying the broker's commission, but is normally part of the Policy for later years.

 

And, for that reason, moving insurers at this stage is the worst thing you can do.

 

Mel E

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[Guest Tracker]

On general insurance such as home and motor, commission is usually paid to the introducer at inception and again at renewal.

 

However insurers tend to look more kindly on loyal customers in this fickle world in which we live.

 

It used to vary between 10% and 20% depending on the type of contract and how much the insurer wanted to build up that particular account for themselves.

[Brian Kirby]

Mel E - 2009-01-20 10:09 AM Why make it complicated? Simply renew the insurance as normal. When you come to sell, all reputable insurance companies will give you a pro-rata refund less a deduction for admin costs. If in doubt, phone them and ask what happens if you need to cancel the policy part way through. You normally also retain your level on NCB for a couple of years, so can restart later. This will NOT work if the insurance is in its first year, since they are still paying the broker's commission, but is normally part of the Policy for later years. And, for that reason, moving insurers at this stage is the worst thing you can do. Mel E ====

However, I think one should caution against doing this if you pay the premium in instalments.  OK if you pay the lump sum "up front", but with most instalment plans the premium is paid by a finance company, and your instalments go to them.  Generally, they won't let you pay back the loan, so you are likely to remain liable for the whole of the loan.  Best to check first exactly what you are getting.