Insurance Lapse ?

listermint

Didnt want to hijak the other FTO thread and this is a seperate question. (mines not an FTO)

Insurance is up soon on my weekender. My renewal has come in with a pretty paltry discount.

I used there online quote thing and it gives a quote of more than 500 off my current policy. Now i know when you mention this on the phone to them the never match it, they might take another 100 or 50 off the quote but always give you some speel, and you end up jumping ship.

Can one let their policy lapse, ie off for 2 days and then renew with the same company under a new online policy? or is there rules against this ?

Axa btw

Anan1

Why would you even need to let it lapse - could you not have the new policy start at the same time as the old one finishes? But yeah, I don't see why it wouldn't be possible.

Profiler

listermint wrote: »

Can one let their policy lapse, ie off for 2 days and then renew with the same company under a new online policy? or is there rules against this ?

Axa btw

Yes, it's illegal to drive a car on the road while uninsured.

Mint Sauce

Profiler wrote: »

Yes, it's illegal to drive a car on the road while uninsured.

Its his weekender. Am assuming its not going to be driven.

chillywilly

Profiler wrote: »

Yes, it's illegal to drive a car on the road while uninsured.

He didn't mention driving the car while uninsured.

listermint

Profiler wrote: »

Yes, it's illegal to drive a car on the road while uninsured.

Back under your rock poor reader...

listermint

Anan1 wrote: »

Why would you even need to let it lapse - could you not have the new policy start at the same time as the old one finishes? But yeah, I don't see why it wouldn't be possible.

No, what im presuming is these online quotes are for 'new customers' so to speak so the renewal they sent out to me is mine. This online quote is 'new'.

Ive tried comparing them over the phone in the past and the other end of the phone rarely matches the quote.

I hope im making some sense?

listermint

irish-stew wrote: »

Its his weekender. Am assuming its not going to be driven.

You assume correct. It gets used maybe once or twice a week if even.

Anan1

listermint wrote: »

No, what im presuming is these online quotes are for 'new customers' so to speak so the renewal they sent out to me is mine. This online quote is 'new'.

Ive tried comparing them over the phone in the past and the other end of the phone rarely matches the quote.

I hope im making some sense?

I know what you mean, but what's to stop you from taking out the new AXA policy online and giving the same start time as the expiration of your old policy? No overlap, no gap?

listermint

Anan1 wrote: »

I know what you mean, but what's to stop you from taking out the new AXA policy online and giving the same start time as the expiration of your old policy? No overlap, no gap?

I suppose that was the question. Is there anything to stop me? has anyone done that?

listermint

Ive looked in there Terms on the website and nothing jumps out.


a 500 Euro saving is far too tempting

Anan1

listermint wrote: »

I suppose that was the question. Is there anything to stop me? has anyone done that?

I haven't done it myself so i'm only really guessing here, but i'd go ahead with it online a day or two before the old policy lapses giving the expiry date as the start date and see what happens. They might be in touch if they notice that they're your previous insurer, but I'd be very surprised if they didn't just accept it as a done deal. I don't see any risk for you in it anyway?

listermint

Anan1 wrote: »

I haven't done it myself so i'm only really guessing here, but i'd go ahead with it online a day or two before the old policy lapses giving the expiry date as the start date and see what happens. They might be in touch if they notice that they're your previous insurer, but I'd be very surprised if they didn't just accept it as a done deal. I don't see any risk for you in it anyway?

Actually that makes perfect sense.. Phone call "well you gave me a cheaper quote online" end call..

Anan1

listermint wrote: »

Actually that makes perfect sense.. Phone call "well you gave me a cheaper quote online" end call..

See, aren't you glad now that you didn't put me on your ignore list after all?

listermint

Anan1 wrote: »

See, aren't you glad now that you didn't put me on your ignore list after all?

Id never do that, all talk :P

Profiler

listermint wrote: »

You assume correct. It gets used maybe once or twice a week if even.

You didn't make that clear and given what we all know happens on Irish roads there are obviosuly some people out there who have not problem driving without insurance.

If you let your policy lapse they your details are still on their system so they know you have let the cover expire. As such there is no guarantee that they will honor any quote given to you based on cover still being in place at that time.

blindside88

Your current policy is a 12 month contact, after that you have no obligation to your current terms and conditions. Usually a renewals team will be able to drop your renewal quote by €60-€80 but no more. If there is that much of a difference on the online system they will not drop your renewal quote but simply put you onto the new business team who will set up a new policy (like you could online)

PVincent

There is nothing against churning your policy. But why not try ringing them and ask them to match the online quote to save yourself the admin and the hassle.
For any new policy you will prob have to go thro the trouble of sending copy lic , your Ncb proof, etc etc even though its the same company.

Wicklowandy

Did this last week with axa, renewal doubled to €640, new online quote €398. Brought it to purchase screen, then called. Managed to get it for €398, and kept my old policy conditions (pay monthly by visa; they won't allow it on new policies) .

Wicklowandy

called the branch I normally use, but got through to Tralee;)

Mr Keek

Jesus, some people here are making a very big job of this.

Of course you can buy the online policy instead. An insurance policy is a 12 month contract. You renewal invitation is simply an offer to enter into a new contract.

Just double check your Expiry date(not your renewal date, it's on your Insurance Disc) and start your online quote from that date. Call the customer service team and them that you are not going to be renewing your policy, and you want it lapsed from the renewal date. They may ask you who you ended up going with, you don't need to answer that, it's not a relevant/material fact and is not something that has to be disclosed. Just tell them you have a cheaper offer, and make sure you have your NCB Cert.

There is no need to give yourself a couple days break. The only downside of going on cover online is you may need to sign a new proposal form, send them back their own NCB Cert etc. For €500 saving, who cares!

If they offer your a better offer online then they cannot refuse to sell it to you. It's a valid quote, not selling it to you would be in breach of equality acts, false advertising, mis-selling etc. you cannot be discriminated against, or forced to renewal a policy. That would not be compliant and would get them into serious trouble with the Financial Regulator if reported.

Just make sure you are comparing like with like, and you've answered all the questions online correctly, i.e the website might have asked you who your previous insurer was, make sure you answer this correctly.

challengemaster

listermint wrote: »

I suppose that was the question. Is there anything to stop me? has anyone done that?

Did it 3 years in a row with Quinn, no issues. Fire ahead!

They were rather confused when they found out my NCB was with them, though!