You don't need to be an 'investor' to invest in Singletrack: 6 days left: 95% of target - Find out more
My renewal is due in a couple of weeks, but I'll be selling or scrapping the car in March/April. I'm planning to change insurers for my new car so am discounting the keep the policy and change the vehicle option.
Premium is £170 and cancellation fee is £50, so pro rata, if I use say 2 months cover I should be due a refund of £142 less £50, so £92, meaning I'll have paid £78 or thereabouts for the two months cover.
I've had a brief look at short term insurance and I haven't seen anything anywhere near that cost, more like the same as my annual premium per month.
Is that about right or are there other providers worth looking at?
I'd shop around to see if you could find lower cancellation fees when you renew. Almost certainly better value than any short term insurance even with that though. Alternatively why not switch to the new insurers you plan to use for the new car when you renew?
I did something similar but different (hence no use to you) when I changed cars. Sold the old one on ebay after getting the new one, and with 2 months left to run on the policy it was effectively far cheaper than getting any sort of short term cover to simply get a new policy for the new car, hence moving my renewal date by a couple of months. Didn't cancel the old policy as I'd have got less back than the cancellation charge, but won't be doing that again seeing the way you can be held liable for a vehicle you don't own.
Didn't think of that! I'll check.