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Insurance question - will have 2 cars for 2 weeks

3 replies

AlunWynsKnee · 28/03/2019 11:19

Not very interesting and I have looked at policy documents but I'm struggling to see the way forwards
I'm getting a new (to me) car and selling my current car to someone I know but there's unavoidably going to be 2 weeks where I own both.
My insurer will only offer short term insurance at a cost of 50% of my current policy. My current insurance expires in June so it will cost as much to cancel it as to let it run and I've paid annually.
And my insurer attempts to be online only so it's impossible to find a number. They do say they won't add a second car to a policy but they do do multicar discount with a 14 day cooling off period.
Do I need to set up a new policy for the new car, cancel it at 13 days and then change the current policy? Is there a way I haven't thought of?
Thanks if you read all that!

OP posts:
AlunWynsKnee · 28/03/2019 19:12

Bump

OP posts:
DeathyMcDeathStarFace · 28/03/2019 20:49

Don't know how possible this is, but can you transfer the insurance to your new car and take the old one off the road? You'd have to store it actually off the road and declare SORN, but the day you sell it you/the buyer can take it off SORN, tax it and insure it in their name.

Or transfer insurance to new car and find another company to do temporary insurance for a couple of weeks for the other car? This can be expensive though. We were scrapping our old car as it was going to cost thousands to get it through its MOT. Our new (to us) car was delayed being prepped at the garage we were buying it from (ended up having 2 new gear boxes as a clutch problem put iron? filings into its new gear box and wrecked it!) so someone loaned us a car while we waited for our new one to be ready. Dh has max no claims bonus and was still going to be charged over £150 for temporary insurance for a week! The owner of the car managed to add dh to their insurance as a second driver until the end of their yearly policy - about three months - for about £40. Ended up with their car for about two weeks so it worked out better that way anyway. We still had the old car declared as SORN so kept our insurance on that in case it was damaged/went on fire/was stolen etc before it was taken by the scrap company, so could still claim for it and have no break in the insurance.

Or another possibility is to transfer your insurance to the new car and insure the old car with another company as if you are insuring it for a year, paying monthly. Then when it is sold cancel that policy within the 'cooling off period' normally 28 or 30 days. You'd need to check if you can use two different insurance companies at the same time (even for two different cars) and the costs involved, but might work out cheaper than a temporary insurance.

AlunWynsKnee · 31/03/2019 10:46

Thanks @DeathyMcDeathStarFace I've only just seen this. Yes I was getting a figure of £100+ for temp insurance too. I will be SORNing the old car so trying to decide between no insurance on old car or new monthly policy on old.

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