Quizzes & Puzzles22 mins ago
Will I Get The Rest Of The Insurance Money Back?
I'm giving up my old banger (car), but it's only two months into the insurance. I've insured it for a year (I paid for the insurance annually).
Thank you!!
Answers
Transferring the insurance to your new car may not be the best option – you need to do the maths. If you can find another insurer who will insure your new car for less, then you need to find out how much of your 10 months your current insurer will refund, this should simply be the pro-rata cost per month, less an administrati ve fee.Then compare the cost of insuring...
09:15 Mon 19th Aug 2024
Transferring the insurance to your new car may not be the best option – you need to do the maths.
If you can find another insurer who will insure your new car for less, then you need to find out how much of your 10 months your current insurer will refund, this should simply be the pro-rata cost per month, less an administrative fee.
Then compare the cost of insuring the new car with your current insurer Vs the cheaper insurer (taking into account the admin fee you will pay for cancelling the insurance) and see who works out the cheaper.