Car insurance/scrapping car advice

[iklstarfish 10]

Hi my insurance is due to be renewed on 8th april but car needs to be scrapped should i hold off scrapping till insurance runs out as i have to pay cancellation fee and not sure if i will qualify for no claims.

Its my first car so not sure how it all works.

[Waldo 96]

Why not just keep the insurance going, but don't renew on the 8th? If that's cheaper than cancelling, surely you'd do that.

[iklstarfish 10]

Yes but do i need to tell them that i have s rapped the car?

[andyofborg 11]

Yes but do i need to tell them that i have s rapped the car?

 

Not really, if you are that bothered then wait until the last day of the policies term then scrap it.

[rudds1 102]

Scrap the car then let insurance run out. That way you will get a years no claim bonus

[iklstarfish 10]

Thanks for your help guys.

[Chez2 10]

Just make sure they don't renew the insurance. In the past I specifically told the insurance company not to take the money the following year. Sometimes it works, sometimes they take it anyway. I was angry with them and got a refund. We insured elsewhere but it makes no difference. When you take about a policy make sure they are not going to renew it without your permission. I would check they are not going to do this.

[iklstarfish 10]

Thanks am going tonwrite tomthem to inform them that i do not wish to renew.

[Chez2 10]

Thanks am going tonwrite tomthem to inform them that i do not wish to renew.

 

Give them a call so they can't say they didn't receive the letter, unless you send it recorded delivery.

[FinBak 12]

Scrap the car then let insurance run out. That way you will get a years no claim bonus

 

Not entirely true.

 

If you let the insurance run out and DON'T renew it then you run the risk of having to start all over again with ZERO no claims bonus when you want to insure again.

 

Beware.!!

[alchresearch 214]

Not entirely true.

 

If you let the insurance run out and DON'T renew it then you run the risk of having to start all over again with ZERO no claims bonus when you want to insure again.

 

Beware.!!

 

Isn't that only if you don't have insurance for a few years, or go onto a company car policy instead?

[Chez2 10]

It does last a while after its finished, not sure about the time limit.