Insurance Rant

johne · Nov 28, 2024 at 12:00 PM

Since my wife passed away getting on for three years ago now, I've kept her car a VW Golf, perhaps out of sentimentality, but also because it was very reliable and good on fuel. I have my own car too, so I guess it's a bit extravagant having two, especially when I'm retired and don't do a great deal of mileage.

Fast forward to now and I decided it was time to part with the Golf and I sold it last weekend. Of course the insurance cover I took out is no longer required by me and at first I was going to just let it run out as its due for renewal at the end of January. But I thought what the hell, there's two full months unused there, I'll ring up the provider and see if I can get a few bob back. I duly did so, only to be told that the amount I would get back was around £8 less than the £40 admin charge they normally levy for cancelling a policy. The person on the phone did say they would waive the fee in this case. FFS! Too right. I'd have been better just letting the bloody policy expire it would have saved me a phone call if nothing else. Here endeth todays rant.

ajc400 · Nov 28, 2024 at 12:06 PM

If you let it run and the buyer has an accident it could maybe cause complications as you have the car insured.... better to cancel, I recon.

Iron · Nov 28, 2024 at 12:10 PM

I've had exactly the same when I've sold bikes. I've had to pay for the insurance company to cancel, I've never received any money back, so I now just let them run out.

Boothman · Nov 28, 2024 at 12:10 PM

johne said: ↑

Since my wife passed away getting on for three years ago now, I've kept her car a VW Golf, perhaps out of sentimentality, but also because it was very reliable and good on fuel. I have my own car too, so I guess it's a bit extravagant having two, especially when I'm retired and don't do a great deal of mileage.

Fast forward to now and I decided it was time to part with the Golf and I sold it last weekend. Of course the insurance cover I took out is no longer required by me and at first I was going to just let it run out as its due for renewal at the end of January. But I thought what the hell, there's two full months unused there, I'll ring up the provider and see if I can get a few bob back. I duly did so, only to be told that the amount I would get back was around £8 less than the £40 admin charge they normally levy for cancelling a policy. The person on the phone did say they would waive the fee in this case. FFS! Too right. I'd have been better just letting the bloody policy expire it would have saved me a phone call if nothing else. Here endeth todays rant.
Click to expand...

You have done the right thing - you should always advise the insurance company as soon as you sell the vehicle and are no longer responsible for any liability. From others experience i can confirm it can be a very costly and torturous outcome if you don't and the new owner does anything illegal by accident or design.

joe mc donald · Nov 28, 2024 at 12:35 PM

johne said: ↑

Since my wife passed away getting on for three years ago now, I've kept her car a VW Golf, perhaps out of sentimentality, but also because it was very reliable and good on fuel. I have my own car too, so I guess it's a bit extravagant having two, especially when I'm retired and don't do a great deal of mileage.

Fast forward to now and I decided it was time to part with the Golf and I sold it last weekend. Of course the insurance cover I took out is no longer required by me and at first I was going to just let it run out as its due for renewal at the end of January. But I thought what the hell, there's two full months unused there, I'll ring up the provider and see if I can get a few bob back. I duly did so, only to be told that the amount I would get back was around £8 less than the £40 admin charge they normally levy for cancelling a policy. The person on the phone did say they would waive the fee in this case. FFS! Too right. I'd have been better just letting the bloody policy expire it would have saved me a phone call if nothing else. Here endeth todays rant.
Click to expand...

@johne I did this and forgot to cancel a bike i had sold. Couple i had a call from Manchester police about the bike Marauding around Manchester and damage to a car. Luck of God i was working and could not get to Manchester in the time the foolery took place. Even though i had sent the v5 back. And condolences to you for the sad loss of your good Lady

Iron · Nov 28, 2024 at 12:53 PM

Looks like I need to cancel policies in future.
Having read some more about this it looks like Insurance companies go out of their way to make life difficult (and expensive) for everyone.
We do like a rule book in this country....jeez

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