Dynamic Turtle Posted February 2, 2015 Share Posted February 2, 2015 As above, the insurance is due to lapse next week and obviously I don't want to pay another £600 odd quid to renew it for the year, only to get massively stiffed on redemption fees and/or receive only half of it back if I sell the car a mere two weeks later. Yes I am disorganised Yes it has been a very busy few months. Thanks, DT :-) Quote Link to comment Share on other sites More sharing options...
Ekona Posted February 2, 2015 Share Posted February 2, 2015 Good luck. Most insurers give you a couple of weeks covering both cars while you sell one, but no-one does months. You're going to have to cough up, I think. Quote Link to comment Share on other sites More sharing options...
KyleR Posted February 2, 2015 Share Posted February 2, 2015 I think the bigger problem will be having no NCB on the 350, otherwise you could just insure it as normal but pay monthly, most you'd overpay would likely be able £40 for cancelling. Tried your 370N insurers to add it to that policy for a while? Quote Link to comment Share on other sites More sharing options...
Gudzy Posted February 2, 2015 Share Posted February 2, 2015 (edited) I think the bigger problem will be having no NCB on the 350, otherwise you could just insure it as normal but pay monthly, most you'd overpay would likely be able £40 for cancelling. Tried your 370N insurers to add it to that policy for a while? Why would paying monthly help? If you are setting up a policy for a year, paying for it monthly is just a way to spread the payments. The insurance company still expect the full amount to be paid overall for the year and then refund the amount left, minus the cancellation fee, admin fee and whatever other fee they can come up with. I would try your current insurer as KykeR suggeats as they can sometimes provide temporary cover like this. Edited February 2, 2015 by Gudzy Quote Link to comment Share on other sites More sharing options...
KyleR Posted February 2, 2015 Share Posted February 2, 2015 I think the bigger problem will be having no NCB on the 350, otherwise you could just insure it as normal but pay monthly, most you'd overpay would likely be able £40 for cancelling. Tried your 370N insurers to add it to that policy for a while? Why would paying monthly help? If you are setting up a policy for a year, paying for it monthly is just a way to spread the payments. The insurance company still expect the full amount to be paid overall for the year and then refund the amount left, minus the cancellation fee, admin fee and whatever other fee they can come up with. I would try your current insurer as KykeR suggeats as they can sometimes provide temporary cover like this. Because he said he doesn't want to fork out £600 only to get half of it back. If you have paid it all up front, you have little control over how much you get back, but if paying monthly (and your insurer doesn't require a bumper deposit) the worst they can do is not refund a couple of week insurance you've already paid for that month Quote Link to comment Share on other sites More sharing options...
Ekona Posted February 2, 2015 Share Posted February 2, 2015 No, they issue you with an invoice that you then need to pay up in full. If you buy a mobile phone contract and get the latest whizzy phone thrown in, if you then cancel after two months you don't get to keep the phone unless you cough up for it. Not a great metaphor, I know, but you'll still have to pay their minimum fee regardless. Quote Link to comment Share on other sites More sharing options...
Gudzy Posted February 2, 2015 Share Posted February 2, 2015 I think the bigger problem will be having no NCB on the 350, otherwise you could just insure it as normal but pay monthly, most you'd overpay would likely be able £40 for cancelling. Tried your 370N insurers to add it to that policy for a while? Why would paying monthly help? If you are setting up a policy for a year, paying for it monthly is just a way to spread the payments. The insurance company still expect the full amount to be paid overall for the year and then refund the amount left, minus the cancellation fee, admin fee and whatever other fee they can come up with. I would try your current insurer as KykeR suggeats as they can sometimes provide temporary cover like this. Because he said he doesn't want to fork out £600 only to get half of it back. If you have paid it all up front, you have little control over how much you get back, but if paying monthly (and your insurer doesn't require a bumper deposit) the worst they can do is not refund a couple of week insurance you've already paid for that month You don't really have any control over the amount you get back from a cancellation of a yearly policy, it's set out in the terms and conditions for that policy. If you cancel your monthly payments and refuse to pay the balance they will most likely just pass on your details to a debt collection agency to retrieve the remaining amount (that usually adds a fee). Not really worth the hassle is it? Quote Link to comment Share on other sites More sharing options...
hensh65 Posted February 2, 2015 Share Posted February 2, 2015 When you cancel you only have to pay for the time you have been on cover and the cancellation fee. Maybe doesn't apply to all insurance companies but everyone I have been with and when I worked for one. Quote Link to comment Share on other sites More sharing options...
Ekona Posted February 2, 2015 Share Posted February 2, 2015 When you cancel you only have to pay for the time you have been on cover and the cancellation fee. Maybe doesn't apply to all insurance companies but everyone I have been with and when I worked for one. Exactly what we're saying, it's the cancellation fee & admin fee & whatever else fee they can justify that adds up. 1 Quote Link to comment Share on other sites More sharing options...
brillomaster Posted February 2, 2015 Share Posted February 2, 2015 this is probably an obvious one, but are you selling the zed and replacing it with something else? in which case just take out the full policy for the zed, and then swap the cars over once you've bought the replacement. if you're just selling the zed with no replacement, then i'd get on the phone to your insurer and explain the current situation - you might be able to do rolling monthly insurance or something, but if you don't ask you never know. Quote Link to comment Share on other sites More sharing options...
KyleR Posted February 2, 2015 Share Posted February 2, 2015 I was paying monthly with Chris Knott, after 6 months I had to cancel my policy, I actually got a £15 rebate from them because even after the charges/fees, i'd already paid more than I'd used. Of course paying in full will have most likely resulted in the same total amount paid, because at least I didn't have to pay the full back up front, which seems to be the issue here. Quote Link to comment Share on other sites More sharing options...
kbeast35 Posted February 2, 2015 Share Posted February 2, 2015 who are you insured with? i know that admiral offer temporary cover for upto 28 days as this is something i was going to look into when the hire car went back after my z was involved in an accident and i was enquiring about insuring another car while mine was off the road, i never did go through with it as i managed to sort out a lift share while i'm waiting for mine to be repaired but could be worth just asking your insurers if its something they could offer Quote Link to comment Share on other sites More sharing options...
Dynamic Turtle Posted February 2, 2015 Author Share Posted February 2, 2015 this is probably an obvious one, but are you selling the zed and replacing it with something else? in which case just take out the full policy for the zed, and then swap the cars over once you've bought the replacement. if you're just selling the zed with no replacement, then i'd get on the phone to your insurer and explain the current situation - you might be able to do rolling monthly insurance or something, but if you don't ask you never know. Sadly it doesn't work like that, the difference in quotes from rolling it with Admiral on the Nismo and the next cheapest insurer was £400. Quote Link to comment Share on other sites More sharing options...
Dynamic Turtle Posted February 2, 2015 Author Share Posted February 2, 2015 who are you insured with? i know that admiral offer temporary cover for upto 28 days as this is something i was going to look into when the hire car went back after my z was involved in an accident and i was enquiring about insuring another car while mine was off the road, i never did go through with it as i managed to sort out a lift share while i'm waiting for mine to be repaired but could be worth just asking your insurers if its something they could offer Problem is that might not be long enough, particularly at this time of year. Quote Link to comment Share on other sites More sharing options...
Dynamic Turtle Posted February 2, 2015 Author Share Posted February 2, 2015 OK guys I've found an insurer which aside from having a 14 day cool-off has limited charges for cancellation (<£50) and pro-rata the difference based on use/365. This will have to do for the time being. Thanks again for your help. I might be posting an ad for the 350z here soon at an extremely attractive price, so have your wallets at the ready... DT Quote Link to comment Share on other sites More sharing options...
veilside z Posted February 3, 2015 Share Posted February 3, 2015 There is a company that specialises in Gap Insurance. Quote Link to comment Share on other sites More sharing options...
Ekona Posted February 3, 2015 Share Posted February 3, 2015 There's many companies that offer gap insurance, but I don't see how that's remotely relevant here. Quote Link to comment Share on other sites More sharing options...
veilside z Posted February 3, 2015 Share Posted February 3, 2015 Filling the gap from expiry of ins to sale date. Day to day cover. Quote Link to comment Share on other sites More sharing options...
Ekona Posted February 3, 2015 Share Posted February 3, 2015 That's not gap insurance. That's just regular car insurance. I know what you mean, but gap insurance is a specialist finance protection product and shouldn't be used as terminology in this instance. Sorry to be pedantic on this. Quote Link to comment Share on other sites More sharing options...
ioneabee Posted February 3, 2015 Share Posted February 3, 2015 If the car is off public roads - then you can leave it un-insured ...... at obvious risk ........ but then re-insure for a day for "test" drive purposes ? Quote Link to comment Share on other sites More sharing options...
Ekona Posted February 3, 2015 Share Posted February 3, 2015 You can't, as you'd have to SORN it and faff around losing tax. Quote Link to comment Share on other sites More sharing options...
Dynamic Turtle Posted February 3, 2015 Author Share Posted February 3, 2015 Exactly, and I'd want to keep it insured against theft too... Quote Link to comment Share on other sites More sharing options...
brillomaster Posted February 3, 2015 Share Posted February 3, 2015 are there any other members of the family (wife, sister, etc) who you can gift the car to for a short period of time to reduce the initial outlay of insurance? since no one will be driving the car other than for test drives, who the named driver on the insurance isn't going to matter so much. Quote Link to comment Share on other sites More sharing options...
ioneabee Posted February 3, 2015 Share Posted February 3, 2015 You can't, as you'd have to SORN it and faff around losing tax. I've asked this question before ........ and not sure you're correct here the fact that its off a public highway or not as far as road tax is concerned is irrelevant other than you then can't take it on a public road ...because you have no insurance - so because you would have no insurance, there is no need to not have it road taxed. This as far as I can see works both ways round unless you've found something else to confirm otherwise ? I await to be knocked firmly back down and replaced back in my box re : theft and damage etc - no question - if you want to minimise your risk then, yes you have to insure it Quote Link to comment Share on other sites More sharing options...
Dynamic Turtle Posted February 3, 2015 Author Share Posted February 3, 2015 are there any other members of the family (wife, sister, etc) who you can gift the car to for a short period of time to reduce the initial outlay of insurance? since no one will be driving the car other than for test drives, who the named driver on the insurance isn't going to matter so much. On reflection that would've been a smart idea but I'd like the flexibility to be able to move it myself. 1 Quote Link to comment Share on other sites More sharing options...
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