Insuring a new car

XeNoN89 · 4 Feb 2014 at 10:55

My new car is due to be delivered next month, but my renewal on my current car is 28th Feb. What's the best way to sort out the insurance for the next year? Do I just insure my current car as normal and then swap over to the new one when it arrives?

I've read that when buying a brand new car they usually want it insured a few days in advance of being picked up, so how do I go about this while keeping insurance on the current car? :confused:

This is my first ever brand new car so not quite sure how it's supposed to be done!

OhEsEcks · 4 Feb 2014 at 10:59

Phone your insurer/broker and ask.

DampDog · 4 Feb 2014 at 11:01

I'd just insure as normal and switch on he day you are due to collect it. I've had a few new vehicles and I've never been asked to have it insured before the day I was due to collect it.

That said you may get a better deal if you insure the new car for a whole year. Might be worth talking to you insurer and seeing if they would be willing to issue a short term policy for a few days.

XeNoN89 · 4 Feb 2014 at 11:03

OhEsEcks said:
Phone your insurer/broker and ask.

I'm not staying with my current insurer as they are almost double the price of others for the renewal of my current car, but I would like to know exactly what needs to be done before renewing my insurance with somebody else.

DampDog · 4 Feb 2014 at 11:07

XeNoN89 said:
but I would like to know exactly what needs to be done before renewing my insurance with somebody else.

If you need to know exactly, you need to talk to your insurers.

the_r_sole · 4 Feb 2014 at 11:09

I don't understand the problem here.
You need a policy which covers the new car from when you pick it up, the start date can be whenever you like - it isn't a renewal.
If your current car insurance runs out before you get the new one, you can either renew the policy and then cancel it once you no longer have the car or take out a short term policy.
I can't see an insurance company giving you a price for one car then allowing you to switch the vehicle for a brand new one with the same costs.
Who exactly "wants" the car insured before you take ownership of it?

a renewal is only for the same car with the same company, nothing else is a renewal, it's just new

XeNoN89 · 4 Feb 2014 at 11:20

the_r_sole said:
I don't understand the problem here.
You need a policy which covers the new car from when you pick it up, the start date can be whenever you like - it isn't a renewal.
If your current car insurance runs out before you get the new one, you can either renew the policy and then cancel it once you no longer have the car or take out a short term policy.
I can't see an insurance company giving you a price for one car then allowing you to switch the vehicle for a brand new one with the same costs.
Who exactly "wants" the car insured before you take ownership of it?

a renewal is only for the same car with the same company, nothing else is a renewal, it's just new

Ok maybe i used the word 'renewal' wrong. Basically I was asking If it would be ok to take out a new policy on my current car and switch it over to a brand new car in under a month, or if I would have to cancel the new policy on my current car and get a completely new one again when the new car arrived.

the_r_sole · 4 Feb 2014 at 11:36

you would have to ask the specific insurance company that - The only time I have been able to do something similar was when I was looking to buy a pickup - I got insured on one and then ended up buying a different one (but exactly the same spec, just one year older)
they charged me the admin fee and nothing else - have a feeling it might be different going to a brand new car

XeNoN89 · 4 Feb 2014 at 11:43

the_r_sole said:
you would have to ask the specific insurance company that - The only time I have been able to do something similar was when I was looking to buy a pickup - I got insured on one and then ended up buying a different one (but exactly the same spec, just one year older)
they charged me the admin fee and nothing else - have a feeling it might be different going to a brand new car

Thanks. I'll ring whoever gives me the cheapest quote on my current car and ask them.

K.C. Leblanc · 4 Feb 2014 at 12:50

XeNoN89 said:
Ok maybe i used the word 'renewal' wrong. Basically I was asking If it would be ok to take out a new policy on my current car and switch it over to a brand new car in under a month, or if I would have to cancel the new policy on my current car and get a completely new one again when the new car arrived.

Yup, you just phone up the insurer and they will change the car on the policy. Some like to be informed as the changed happens (just ring them up from the garage) others just need a date.

Your payments will be adjusted, but they will probably factor in an admin fee.

Some insurers will even let you put two cars on a policy on a temporary basis.

XeNoN89 · 4 Feb 2014 at 13:15

K.C. Leblanc said:
Yup, you just phone up the insurer and they will change the car on the policy. Some like to be informed as the changed happens (just ring them up from the garage) others just need a date.

Your payments will be adjusted, but they will probably factor in an admin fee.

Some insurers will even let you put two cars on a policy on a temporary basis.

Excellent. I pay off my insurance in one go instead of monthly. I'm guessing they will just ask for an additional payment up front in my case?

IAmATeaf · 4 Feb 2014 at 13:43

Hang on I thought you said earlier that you were going to switch insurers as your current was too expensive for the new car?

If that is the case then you can either renew the insurance with whoever for your current car and then cancel but you might get charged an admin and cancellation charges and then take out a new policy with whoever.

Or come renewal, renew with the company that's providing a cheaper quote for the new car and then switch cars and hope that they get close to the quote that originally got when switching. Bit of a gamble in my opinion as they may decide to charge you more for the switch effectively then the quote you got.

I'm sure there are other options such as not renewing your old car and catching a bus for a few weeks etc....

XeNoN89 · 4 Feb 2014 at 14:05

IAmATeaf said:
Hang on I thought you said earlier that you were going to switch insurers as your current was too expensive for the new car?

If that is the case then you can either renew the insurance with whoever for your current car and then cancel but you might get charged an admin and cancellation charges and then take out a new policy with whoever.

Or come renewal, renew with the company that's providing a cheaper quote for the new car and then switch cars and hope that they get close to the quote that originally got when switching. Bit of a gamble in my opinion as they may decide to charge you more for the switch effectively then the quote you got.

I'm sure there are other options such as not renewing your old car and catching a bus for a few weeks etc....

I've already cancelled my renewal with my current insurance as they were over £500 more expensive for both my current and new car than i could get with a quick look at compare the market. I think i'll just have to find the best quote for the new car and then ask them what they can do about the current car for the month before the new one arrives.

IAmATeaf · 4 Feb 2014 at 14:46

XeNoN89 said:
I've already cancelled my renewal with my current insurance as they were over £500 more expensive for both my current and new car than i could get with a quick look at compare the market. I think i'll just have to find the best quote for the new car and then ask them what they can do about the current car for the month before the new one arrives.

You really need to talk to them so that they can give you an estimate on the likely changeover costs.