Worth cancelling my insurance halfway through? - Civinfo
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post #1 of 5 (permalink) Old 21st February 2017, 12:23 Thread Starter
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Worth cancelling my insurance halfway through?

Hey guys..

I'm currently on my 6th month with 1st Central, paying roughly 190 a month for a stock FN2 Type R + declared HIDs and head unit. (Finally managed to get this after 4 years of driving other slower cars I hated with no mods, thanks Insurance)

I was quoted around 1300 (this quote was with 4 years NCB) from Sky Insurance who are mod friendly and I can actually FIINALLYY start doing some more exciting mods I'm 22 with 3 years NCB, no points, no fault accidents (1 non fault accident 4 years ago) and about to turn 23 in March.

My question is.. is it worth my cancelling my insurance with 1st Central halfway (or maybe when I turn 23 next month?), putting half a year of no claims to waste but going to Sky Insurance for a much cheaper and also mod friendly insurance? Or shall I not give in to the temptation and keep my insurance until August and renew properly when the time is right with another years of NCB under my belt (hopefully lol)

So confused, any advice is appreciated.. thanks.
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post #2 of 5 (permalink) Old 21st February 2017, 13:07
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Once you start modding all the normal insurance companies become completely useless and you can only get good quotes through the specialists. So I would phone Sky back and ask them to re run the quote with 3 years no claims rather than 4 years, that way you'll see how much you could potentially save or loose by running your current deal down, I think the quote will only differ by 150-200.

Its also worth mentioning that your current insurance company probably won't let you cancel without admin fees, which sometimes can add up to 100's.

Last edited by liamgdr; 21st February 2017 at 13:09. Reason: 2nd paragraph
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post #3 of 5 (permalink) Old 21st February 2017, 14:11
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When you take out insurance on monthly installments, you have signed a contract for the full year. So if you cancel halfway through, it's likely that they will charge you the remaining cost (or part of it) as a lump sum, and probably put on an admin fee as well.

It's better to have patience, stick with the current insurance until it lapses, and then move over.
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post #4 of 5 (permalink) Old 22nd February 2017, 10:49
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You'll also find that that extra year's bonus (and full 12 months' experience on the car when you switch at renewal) is worth having at your tender age. Over the two years you may still be quids in, especially if there's an early cancellation charge and admin fee attached to the outgoing policy.

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post #5 of 5 (permalink) Old 22nd February 2017, 11:17 Thread Starter
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Hmm.. I was quoted around 100 more for added business use, extra +1000 miles, 3 years NCB instead of 4 as I was originally quoted above.. and all mods declared along with future mods I'd like to add (cold air intake etc)

Also my current company offered a 150 credit for cancellation (50 will be taken away for cancellation fee)

Last edited by Mus; 22nd February 2017 at 11:36. Reason: Added info
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