When is the best time to cancel car insurance?

When is the best time to cancel car insurance?

Car insurance is coming up to renewal. Found a cheaper company to go with for the next year. When is the best time to cancel, before the renewal date or just after?I want to keep my NCB I have built up with them and move it over to new company for the next year, also if I cancel before the renewal date would this affect my NCB that I have built up with them?

EvelynThe

Just tell the new insurers you need the cover to start at exactly the time your old policy ends (see the certificate of insurance) and tell the old insurer you'll not be renewing. You'll carry the NCB to the new company, but they'll want proof so ask the old company for it.I wouldn't just do nothing about the old insurance, particularly if you pay it monthly, they'll just carry on taking the payments unless you tell them to stop so phone them up.

DR

Hi just don't renew it simple as that as i did last year. when admiral upped the cost.

STEPHEN

If you cancel just after renewal you're going to get hit with a load of penalties because you're cancelling during the year's insurance.Inform your current insurer that you're going elsewhere and you don't want to renew. This will mean that your current policy runs out, rather than is cancelled. Do this about a month before renewal so that they can't argue "we've already produced the documents" as some insurers will try and do.Inform your new insurers you want the new policy to start at midnight on the day after your old one expires. Your old one will cover you until midnight.Your old insurer should send you a letter with proof of NCD, which you forward to your new insurer.

Big

Go on to a comparison site, get your quotes, when your happy with your new company tell them the start date of your NEW policy. Send a message (phone or email is best) quote your current policy number and tell them "you will not be renewing your policy".Finally, to be sure, contact your bank and cancel payments (especially if you pay monthly).Thats it, simple.As for your NCD, let your policy run to it expires, you'll get another yearBut BEFORE renewing insurance I'd look around, tell you why.I was with direct line for years (possibly 10), one year my premium went up ?100 for absolutely NO reason.I called and asked why, they said "because of uncontrollable factors" (garbage). I said my policy wouldnt be getting renewed with them.Went on the internet, got a quote from "privilege", ?80 less than I was originally paying, bought that policy, checked the smallprint and couldnt believe my eyes "Underwritten by The Royal Bank of Scotland", SAME COMPANY AS DIRECTLINE ! ! ! ! ! !currently with "esure"

Jonathan

Just phone them up and tell them not to auto renew

Timbo

Insurance policies last for 365 days. If you do not wish to stay with the company you are with then you do not renew the policy on day 365If you cancel before the 365 days are up then you would not get any NCB for that policy time.You arrange the new insurance to start at the exact time and day that the old one finishes - this will be shown on your insurance certificateThe letter you recieve from your old insurer just before renewal time will tell you -a. the NCB you have and this is good enough for proof to your new insurer so do not lose it.b. how to renew if you want to stay with the old insurer - check this carefully as they may be one that just automatically renews it if you fail to tell them not to.When there is an auto renewal about to happen then before the old policy finishes you tell the company you do not want to renew. They will ask you why and you can tell them what the best price you have is. They will probably then match that and so you stay with them and avoid hassle.

Neil

Don't cancel. That will lead to early cancellation charges, and loss of NCB.Just phone your current insurer and tell them that you do not wish to renew.This is different from cancelling the policy.If you have an auto-renew set up, make sure you tell them at least a week before the renewal is due.Then make sure the new policy starts at the same date and time that the old one ends (or 00.00 the next day if the old policy ends at 23.59).

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