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Insurance terms/period?

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  • 07-03-2005 7:51pm
    #1
    Saruman
    Registered Users Posts: 11,389 ✭✭✭✭


    Do insurers here ONLY allow your period of being insured to be 1 year??? I know in the states you can do it month by month, quarterly etc etc.. Great for competition as you can switch any time... one of the reasons its so cheap there i would say.

    As far as i know you pay for a year and you can cancel but you loose a lot of money in your refund... Am i wrong? Are there companies out there that do shorter terms? It would be great even if it was like the Tax.. do it for 3, 6, or 12 months. It should be the law and companies have to do it.


Comments

  • Options
    #2
    camarobill
    Closed Accounts Posts: 449 ✭✭camarobill


    nothing fair about insurance at all,a law onto them selfs,fat cats with top hats :cool:


  • Options
    #3
    Dilbert75
    Registered Users Posts: 4,724 ✭✭✭Dilbert75


    Only thing you could do is pay on easy-pay terms, ie. over ten months. Then you can cancel and only lose a small proportion. Beware that after doing this a few times, you'll run out of insurance companies and also you'll never accumulate an NCB - they only give credit for full years.


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    #4
    Rabies
    Registered Users Posts: 15,258 ✭✭✭✭Rabies


    If you take out full insurance it has to be for a yearly term. Although if you are name driver then the policy length can be what ever you want as long as it doesn't exceed the end of the policy date held my the owner of the main policy.


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    #5
    ando
    Registered Users Posts: 5,398 ✭✭✭ando


    I just sold my car and was given the option to cancel my account and get the rest of the years money back now, or suspend my insurance and in november, I get an extra years NCB's + my money back from March! I dont think you could do much better


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