Car insurance cancel policy, start new one?

beetlebailey

My wife and I both have cars and the insurance for both of them is up in August. As you can imagine this is a big outlay especially with kids going back to school.

Anyway I phoned my insurance company explaining the situation and asked if I could cancel my current policy and immediately start a new policy so that going forward we would have one policy renewal in June and another in August rather than both in August.

He advised if I were to cancel my policy and start a new one I would loose my no claims bonus!

Is this right?

Eggs For Dinner

beetlebailey wrote: »

My wife and I both have cars and the insurance for both of them is up in August. As you can imagine this is a big outlay especially with kids going back to school.

Anyway I phoned my insurance company explaining the situation and asked if I could cancel my current policy and immediately start a new policy so that going forward we would have one policy renewal in June and another in August rather than both in August.

He advised if I were to cancel my policy and start a new one I would loose my no claims bonus!

Is this right?

No, it isn't. But you would not gain a year's NCB from last August to now. Not an issue if you are on the max of the scale already

Sonny noggs

Not being smart, but if you have the money to pay for a full policy in June, can you not put the money aside and keep until August?