Please answer my insurance question

Honest John Back Room » Motoring discussion
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Thu 10 Feb 2005 17:46
Please answer my insurance question - GrahamF1
My insurance renewal is due in September, and I pay monthly.

If I were to sell the car now and cancel the policy, do I still have to pay the rest of the premium?
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Thu 10 Feb 2005 18:20
Please answer my insurance question - Retro
No, you will get a return premium. Check your policy wording for whether it will be pro-rata or on the more severe "short period" rates.

Please also be aware, that because of the way DDM works, you may be in arrears and have to pay the difference between the cancellation charge and the amount you have paid. It can work the other way also!
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Thu 10 Feb 2005 18:21
Please answer my insurance question - adverse camber
read the terms and conditions. It will depend on that.

I always pay up front and my insurer states that in the first year they refund pro-rata less one month, after renewal they will refund pro rata.

I would guess that you will have to pay a bit extra but I can't see that you would need to pay for a whole year.

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