Temporary car insurance - selling car

[singarainbow]

My current insurance expires mid July, but I am moving overseas at the end of August. I will be selling my car mid August. I have looked at temp insurance options online, they cost about 200 for 28 days!!!
Would it be legal to take a new, year long policy out, cancel on day 13 of the cooling off period, and take out another one and do the same? Even if they charge me 50 cancellation fee (twice) it will still work out cheaper.

why don't you just take out the new policy, cancel it when you sell and pay one cancellation fee?

My current insurer have told me that if I cancel outside the cooling off period, I have to pay the full years premium!!! I will call others and ask their policies though.

outrageous!

not to worry though, There will be someone reasonable out there. Run some comparisons online - you will hopefully be able to find a cheaper policy and maybe even a more reasonable cancellation clause.

you should never renew car insurance with the same company, always a ripoff.

No, is not normal that you would not get the rest of the year refunded if you cancel part way through. Just take out your policy and pay by monthly DD - then cancel the DD once you've sold the car.

...but paying monthly makes the premium much bigger!

Yes the annual premium would obviously be higher but if only paying one month then its not such a big deal. And certainly easier for peace of mind and convenience, ie not having to chase up a refund of 11/12 of annual premium minus cancellation, surely?

Yes, you can do as you suggest and take advantage of the cooling off periods.

PS cancelling a monthly DD would not be a good idea. You might be subject to financial penalties.

Of course I don't mean you would just cancel the DD - you would write to cancel your policy as of a certain date, then stop the monthly DD from after that date (just incase the bank don't). At least that way you aren't paying out a whole year's insurance up front then waiting for a cheque refund. You are just paying the one or two months you need. Many people need to cancel their policy once their year's insurance has started - you can even get a refund on car tax I'm pretty sure.

Even though you pay monthly, the insurance contract will probably still be for the whole year. So if you do cancel early, you may still have additional premiums to pay.

found a company who have low monthly payments, no deposit and I asked the question about cancellation, and it would only be a 50 fee, so would work out lots cheaper than the temporary cover.
Thanks for your input!!