Insurance policy whilst not having a car for a few days

[wingman]

I've tentatively sold my car to a company that is due to collect it today, and I do not yet have my replacement car.

I have found a few cars I'll be viewing this weekend, however how would you deal with the insurance?

I don't want to cancel my policy today and losing part of my years NCB and start a new one on, say, Saturday - but at the same time I don't want to be insuring a car I don't own.

What would you guys suggest, if you've been in a similar situation?

 

[wedrum]

when you get a new car call them up and change it over.

 

[ADT]

I think some companies offer to freeze the policy for a couple of weeks until you source a replacement

 

[vanpeebles]

Just change it to new car, if you get one pretty sharpish.

 

[Glanza]

My insurance will let me take temporary cover out on another vehicle if I'm looking to purchase it for something like £10 - £15 then switch it over once I've bought it.

 

[wingman]

when you get a new car call them up and change it over.

My only concern here is, if the car was in an accident after I'd sold it, would they approach me about it since I have a valid insurance policy? I think I read something similar in the past (on here, maybe?) - I know the chances are slim for the period I'm looking to cover, but I just want to cover myself incase.

I think some companies offer to freeze the policy for a couple of weeks until you source a replacement

That would be ideal, actually - I'll ask my insurance today. Thanks!

 

[Jamauk]

My only concern here is, if the car was in an accident after I'd sold it, would they approach me about it since I have a valid insurance policy? I think I read something similar in the past (on here, maybe?) - I know the chances are slim for the period I'm looking to cover, but I just want to cover myself incase.



That would be ideal, actually - I'll ask my insurance today. Thanks!

Get the buyer to sign a receipt stating how much the vehicle has been sold for, their name and address on it, each have a copy, should any proof be needed to show the vehicle has been sold use that. Have a bank transfer for the sale of the car and that way it is further proof that on a particular day a buyer signed a receipt you each have a copy of and paid an amount matching up with the payment going into your account. Might also be an idea to do the change of keeper online once again to match the date with a bank transfer and receipt.

As for the insurance side of things, you may be able to get the insurer to put the policy on hold, but that varies with insurers so best to speak with them beforehand.

 

[Demon]

If at all worried phone the Insurance company, explain and hope they don't double dip on admin charges to put the policy on 'hold' then to change to the new vehicle.

Personally for a few days / couple of weeks I'd go crazy and chance it. Any new owner would not be driving with my permission and on many counts the insurance policy would be void (like not informing them of the change would probably be enough to void the insurance), so I do wonder how tenuous a potential situation would have to be in order for this to ever be a problem.

But, risk is risk, if this is causing more than 2 minutes of contemplation, follow the process and get the policy on hold or cancelled. Remember that you'll get shafted financially, I've always had an 'admin fee' added and the change to a new car is at their rates, so massively inflated.. Most of the time it's more cost effective to cancel the policy, take the refund and use Confused or similar to get a cheap quite on the new car and take out fresh insurance. It's only if you are scraping every day of NCB that it might be a pain.

 

[tom_e]

If at all worried phone the Insurance company, explain and hope they don't double dip on admin charges to put the policy on 'hold' then to change to the new vehicle.

Personally for a few days / couple of weeks I'd go crazy and chance it. Any new owner would not be driving with my permission and on many counts the insurance policy would be void (like not informing them of the change would probably be enough to void the insurance), so I do wonder how tenuous a potential situation would have to be in order for this to ever be a problem.

Insurance is never void in the case of a 3rd party claim, they just come after you for the money in the end IIRC.

 

[wingman]

Many thanks for the advice all.

Car is now sold, DVLA have been informed via the Gov website, money in the bank, insurance contacted (policy placed on hold for two weeks (afterwhich it's automatically cancelled)).