Changing cars and insurance

[liffy99]

I cannot be the only one that's done this;

My current BMW's insurance expires on the 24th Feb.
I'm picking up my new car, an Audi S4, on the 1st Feb.
So need to sort out insurance. But it seems so complicated to have two policies running concurrently (I initially didn't think it was worth ending the cover on the BMW for the sake of 3 weeks - would have cost me extra and I would not have completed a full year of no claims).
So as I see it the scenarios are . . .

1) Leave the BMW cover in place, and take a separate, new policy out of the S4. The advantage is that the Beemer would still be covered for a few weeks to help selling it (test drives). However I've found out that I can't apply my no claims bonus to two policies - so the cover for the S4 would be hugely more expensive !

2) Switch my existing cover from the BMW to the S4, then take out a new policy on the S4 on the 24th Feb. No problems with the S4 but the disadvantages are then there would be a switching fee for the sake of three weeks, and the BMW would be uncovered (which is illegal now isn't it, despite it not being driven and off the public road).

I'm waiting to hear back from my insurance broker to see what they suggest but what do others do ? This must be quite a common situation.

By the way, when searching for quotes for the S4 I'm gobsmacked by Esure - £258 fully comp, buisness and pleasure, with protected no claims (and they'll cover a remap in due course for an extra £50 per annum) ! Middle aged, plenty of no claims, live in the sticks.

[adsgreen]

Ask one to mirror the no claims bonus - I've done this lots before.
You may get a hit as most deduct 2 years but can still work (nothing stopping you amending the policy after).

You can get short term insurance for 30 days. Not cheap but still cheaper than a full 12 month with no-no claims.

[liffy99]

OK, think I see.
Alternatively, would this work . . .

1) Take out new policy on S4 starting 1 Feb. Cancel BMW policy (may be a cancellation fee). As I'd be three weeks short of another year's no-claims bonus I could only count that up until last year (no problem as I've a few more than 5 years, just annoying).
2) My other half would probably have the BMW, so she can insure that (change of vehicle on her policy) from 1 Feb and then declare her TT SORN.
3) Sell the TT

[Ian_C]

Personally, I would try the following:

1st Feb insure the S4 with an additional years no claims added on. Wait for said new S4 insurer to write to you chasing proof of no-claims. BMW renewal will have come through by then, hence post off the part of the renewal which states the no-claims. Let the BMW policy expire.

The only catch is you won't be able to insure the S4 with the same people as your current BMW policy

[adsgreen]

Personally, I would try the following:

1st Feb insure the S4 with an additional years no claims added on. Wait for said new S4 insurer to write to you chasing proof of no-claims. BMW renewal will have come through by then, hence post off the part of the renewal which states the no-claims. Let the BMW policy expire.

The only catch is you won't be able to insure the S4 with the same people as your current BMW policy

That's not a bad idea - should just work with the timescales you've mentioned.

[adsgreen]

Oh - is the S4 private or from a dealer? If a dealer you could grab their 7 day insurance which is usually complimentary which gives you even more times to sort.

[liffy99]

I like Ian_C's idea - but why not the same people on the S4 (do you just mean my other half, not me) ?
Insurance company may have come good though . .. . what they propose is;

1) Insure S4 with them (stonkingly good deal by the way).
2) Let BMW policy lapse on the same day (and they will waive the early termination fee of £40)
Forgot to ask if I would lose a year's no claims for the sake of 16 days (I now collect the S4 on the 8th - waiting for DVLA to sort out the private reg)
3) Other half will have the BMW, so just a change of car on her policy
4) Declare her Audi TT SORN and sell it (bargain to be had here guys - £1500 with decent mods, MOT etc - and a mere 198,000 miles !)
S4 is a private sale by the way.

[adsgreen]

I like Ian_C's idea - but why not the same people on the S4 (do you just mean my other half, not me) ?

Because they may spot you are technically insuring two cars with one set of no claims bonus.
they also have access to your current history so you would not have to send proof of no claims.

Ian's method relies on the fact that it can take a couple weeks for the proof of no claims to come through and as such you usually get a grace period of 14-21 days to send it to your new insurer.
In that time the old policy has lapsed and you can get the proof of no claims to the new insurer.

[Ian_C]

As above. Definitely worth a try.

[liffy99]

All sorted - everything fell into place.
Insurers simply started a new policy for the S4 and kindly agreed to count another year's no claims history, even though I was 2 weeks short (great deal too).
Other half inherited my Beemer and simply transferred her insurance from her TT to it.
TT was sold within 36 hours so, technically it was off road for 24 hours but new owner insured it and drove away.
Result !

[Ian_C]

Excellent!