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    Can I get a car insurance policy and cancel it within the 14 days cooling off period and then move onto another insurer and do the same?
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    (Original post by SFeet)
    Can I get a car insurance policy and cancel it within the 14 days cooling off period and then move onto another insurer and do the same?
    Why would you want to do that?
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    (Original post by Emma:-))
    Why would you want to do that?
    Figured out it would be a lot lot cheaper this way
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    How will it be cheaper?
    You would look around at insurance prices before you buy any insurance anyway, and then go with whoever offers you the cheapest price.
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    I assume he means pay for it, then get money back within 14 days, and then carry on until everyone refuses to insure him.
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    (Original post by Maccees)
    I assume he means pay for it, then get money back within 14 days, and then carry on until everyone refuses to insure him.
    Exactly, would you say that would be possible lol
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    (Original post by Maccees)
    I assume he means pay for it, then get money back within 14 days, and then carry on until everyone refuses to insure him.
    I get what you mean, but thats stupid though. It is a lot of hassle and it will just end up with most (if not all) insurance companies getting fed up with you and maybe refusing to insure you.
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    (Original post by Emma:-))
    I get what you mean, but thats stupid though. It is a lot of hassle and it will just end up with most (if not all) insurance companies getting fed up with you and maybe refusing to insure you.
    I actually think the hassle is worth it because paying out £6-7k for a years insurance is unjustifiable
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    (Original post by SFeet)
    I actually think the hassle is worth it because paying out £6-7k for a years insurance is unjustifiable
    In the end- companies may start refusing to insure you- which would be worse than high prices, as if you have had insurance refused before, then the cost of insurance is even more expensive, plus the fact that companies may not want to insure you in the first place if you have had insurance refused elsewhere.
    Yes, i agree 6-7k is a lot of money, its stupid them quoting you that much is stupid, but if you look hard enough, and use some of the car insurance tips that people have posted on other threads, then you should get it cheaper. And once you start building up a bit of no claims bonus etc then the price should go down a lot.
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    Just an FYI: Most insurance companies will charge you for the number of days you were under their cover before paying back your deposit/premium. You won't get a cancellation charge since it will be within the cooling off period, but you'll still get charged for being covered. I think your plan has a somewhat major flaw.
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    (Original post by Emma:-))
    In the end- companies may start refusing to insure you- which would be worse than high prices, as if you have had insurance refused before, then the cost of insurance is even more expensive, plus the fact that companies may not want to insure you in the first place if you have had insurance refused elsewhere.
    Yes, i agree 6-7k is a lot of money, its stupid them quoting you that much is stupid, but if you look hard enough, and use some of the car insurance tips that people have posted on other threads, then you should get it cheaper. And once you start building up a bit of no claims bonus etc then the price should go down a lot.
    Thanx for the advice, I'll have to think about it lol
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    (Original post by Kre)
    Just an FYI: Most insurance companies will charge you for the number of days you were under their cover before paying back your deposit/premium. You won't get a cancellation charge since it will be within the cooling off period, but you'll still get charged for being covered. I think your plan has a somewhat major flaw.
    Lol of course I'd get charged for the days that I've been with them, you can't expect to get free insurance now can you? But yeah, I get your point
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    (Original post by SFeet)
    Thanx for the advice, I'll have to think about it lol

    This it the thread i was on about.
    http://www.thestudentroom.co.uk/show....php?t=1148594
    Its best in the long run to do things properly and in the end you will get decent insurance prices. Trying to cheat the system most of the time doesnt work.
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    (Original post by SFeet)
    Lol of course I'd get charged for the days that I've been with them, you can't expect to get free insurance now can you? But yeah, I get your point
    Then how exactly did you think would it be cheaper?
    Assuming you go from the cheapest insurer to the more expensive ones, you'll pay half a months premium on each policy before cancellation, which will gradually become more and more expensive as the weeks progress. Staying with the first and cheapest insurer means you pay a constant amount monthly. Not to mention you won't earn any no claims bonus this way. :lolwut:
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    (Original post by Kre)
    Then how exactly did you think would it be cheaper?
    Assuming you go from the cheapest insurer to the more expensive ones, you'll pay half a months premium on each policy before cancellation, which will gradually become more and more expensive as the weeks progress. Staying with the first and cheapest insurer means you pay a constant amount monthly. Not to mention you won't earn any no claims bonus this way. :lolwut:
    Exactly- going with the cheapest insurer means you get the cheapest price. But if you go swapping insurers- then you will go around paying more expensive prices, which wont work out cheaper at all.
    Plus the fact that if you stay with the same insurer, you get your no claims bonus at the end of it- which in itself brings the price down quite a lot.
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    As others have said, it'll most likely work out more expensive than sticking to a single insurer. I've had experience of cancelling just before the 14 day cooling off period and I was charged approx on a pro-rata basis (probably more) for the number of days insured + an admin fee for cancellation.

    Also consider the fact that you will not be earning any no claims bonus/discount since it'll be restarting every time you start a new policy.

    Consider the likelihood of insurance premiums increasing over a few weeks/months which will mean that you'll end up paying more and the possibility of insurers refusing to insure you.

    Also, it will be a hassle to cancel your policy every 2 weeks as you'll have to ring them up and request cancellation which may also require an email to be sent or a letter in the post requesting cancellation.

    It'll end up costing more than you think

    Edit: I forgot to add that it can take up to 30 days to get your money back if you've paid the full annual amount.
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    (Original post by SFeet)
    I actually think the hassle is worth it because paying out £6-7k for a years insurance is unjustifiable
    Except that my first of year of insurance was under £800
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    (Original post by Camoxide)
    Except that my first of year of insurance was under £800
    Lucky you then, I live in a high risk area
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    (Original post by Emma:-))
    This it the thread i was on about.
    http://www.thestudentroom.co.uk/show....php?t=1148594
    Its best in the long run to do things properly and in the end you will get decent insurance prices. Trying to cheat the system most of the time doesnt work.
    Thanks for that, do you know any insurers who allow you to build up NCB as a named driver?
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    (Original post by SFeet)
    Thanks for that, do you know any insurers who allow you to build up NCB as a named driver?
    Im not sure, ive not really looked into it myself. Ive got a feeling that direct line might do it. You would have to look on the companies websites to see if they do it. If you get named drivers no claims, then you can only usually use it if you get your own policy with that company. You cant use it if you go elsewhere. Named driver no claims is good, but the only thing is if the company you are with isnt the cheapest around when you come to take out the policy, it can be a bit of a bummer.
    If you are wanting to be a named driver on a policy (e.g. your parents poicy), then make sure you actually are only a named driver. If you go round taking out a policy, but put someone else (e.g. a parent or someone) as the main driver instead of yourself and put yourself just as a named driver, basically to get it cheaper, then its called fronting. Its illegal.
 
 
 
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