Temporary Car Insurance

kazza90210

Hi (mods move this if its in the wrong place)

My car insurance is due up at the end of the month, the only thing is I plan to go travelling in Oct for a year, my current insurance company doesnt do temporary insurance and will only give me 60% back if I cancel in Oct. So does anyone know company that offers temporary policys?

Thanks

Henry Ford III

1/. Set it up for the year.

2/. Pay monthly.

3/. Return cert and disc when no longer needed, and cancel ddm

leeroybrown

The danger with doing that is that the insurance company will demand a cancellation fee and the OP will come back to find that they've got a bad debt.

kazza90210

I looked in to cancelling but they will only pay back a %, which means I will be paying a fortune for 3months cover. Was thinking if I payed by direct debit for 3months and then cancelled is that a way to get around losing out on money?

Ive rang loads of companys and none seem to offer temporary insurance

mandz

My sister is in college in the UK and what she does is she phones up and asks them to suspend her insurance while over there and then phones when she's back in Ireland to have it reinstated... I'm not 100% how it works but apparently they will give you back money for the months which your insurance was suspended. Worth asking them about to see how it works.

Dazzler88

i was with Quinn a few years ago and i cancelled my insurnace after only two months cover and wasnt charged a cancellation fee.Although i did forget to shut down the DD and they came in the 2 months and took my monthly payment even though the insurance was cancelled.

dudara

I'd imagine that when you take out insurance for a year, you are signing a contract for a year. Even if you cancel the direct debit you may be liable for the outstanding amount and could end up with a bad debt.

timmywex

Its a huge risk for an insurance companty to offer temperary insurance/shorteer than a year.

But there is big demand for it, even people wanting it for summer months or whatever

Zonda999

timmywex wrote: »

Its a huge risk for an insurance companty to offer temperary insurance/shorteer than a year.

Why so?

niceirishfella

OP, did you ask your insurer can you "freeze" your insurance in Oct when you depart and take it back up again when you come home from your travels in a year?

Santa Claus

Try ringing a broker, there may be a company willing to offer 3 months insurance (but expect to pay more than a quarter of your normal premium for the convenience).

thebiglad

Don't think anyone does short term policies in Ireland - too difficult to administer.

To have an insurance policy there is one significant principle

'Insurable Interest' - in lay mans terms you must legally own the item which you are insuring.

This is generally not an issue but were you to lay up the policy after 3 months with the intention that at year end you will get a portion of your premium back (they will charge a premium for fire & theft cover only) then you are effectively in breach of policy conditions and renders the policy void anyhow.

Also why pay for 9 months cover which you do not require and will get back a portion of at end of the policy!

Best option is as suggested earlier, pay by DD, cancel the policy and DD when you no longer need it, return disc and certificate to Insurer. Generally Insurer's DD are for advance payment so you should not have any arrears.

The Insurer will contact you for arrears if there are any to the date of cancellation but not to the end of the policy and in the very unlikely event they do, they will not pursue it - happens all the time and so long as there is no claim they don't lose out anyhow.

Do make sure you deal with any arrears though, you will want evidence of no claim bonus when you return next year and want to get another policy!

kazza90210

Thanks for all the advice guys, will ring my insurance company again tomorrow and see if we can work something out. DD sounds like the best way to go and then ill just have to pay any cancellation fee that they charge!

Im surprised no one offers this kind of cover, as there seems to be a demand for it and in my opinion getting 3 months worth of money is better then none.

niceirishfella

Whats to be surprised about. No one offers 3 months or any short term insurance product as they have us all by the balls - simple.