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Insurance overlap

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  • 02-12-2016 3:02pm
    #1
    airmech
    Registered Users Posts: 89 ✭✭


    Hi,
    My policy ends in January, I have checked on line for quotes and it is alot cheaper to start my new policy in December 2016 than to wait until the 1st of January. Can anyone see a problem with this?


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    #2
    Liam McPoyle
    Closed Accounts Posts: 14,846 ✭✭✭✭Liam McPoyle


    airmech wrote: »
    Hi,
    My policy ends in January, I have checked on line for quotes and it is alot cheaper to start my new policy in December 2016 than to wait until the 1st of January. Can anyone see a problem with this?

    Nothing stopping you doing it but you will have to send in your NCB to your new insurer.

    They will check it and see that you bought a policy when you had a live policy running at the same time.

    They could well cancel your new policy as the automatic assumption would be that there is something dodgy afoot.

    If that's what you want to do how about cancelling your existing policy say on the 29th December then start the new one?

    They will probably charge you a cancellation fee though which is usually around €50. You will also lose this years ncd as you didn't hold the policy for a full year.

    Unless it's a very large saving on a like for like policy ie excess, benefits etc then personally I wouldn't bother.


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