We all know that drivers insurance premiums are based on the drivers age, What car your insuring, where the car is kept and so on. Things are not so simple and obtaining low insurance quotes is beccoming a minefield of probing questions and non motoring related factors such as class your financial situation and worse.
When taking out car insurance you will be asked, "Have you ever canceled a motor insurance policy" Imagine the scenario if you will, You have been driving for years and built up a good no claims bonus. You have just renewed your car insurance and pay monthly by direct debit. Then unexpectedly you get a promotion and get a brand spanking new company car. Or you lose your job and cant afford to run it. Either way, Your no longer going to run it so you contact your insurance company and cancel your policy, stick your old motor in the garage and sell it at a later date. You are more than entitled to do so. However, Like a jilted lover of the bunny boiler persuation your insurance company wont like it if you end your relationship with them. They may not cut and boil your childrens fluffy bunny but they will teach you a lesson you will never forget.
When the day comes that you decide you need motor insurance again, be it with your old or new insurer, you will rue the day you canceled your last policy. After some experimenting on insurance comparison websites we found that breaking up really is hard too do. When we answered No to ever having canceled a policy, our final quotes came in from over 30 insurance companies with an average yearly premium of £312 Fully comprehensive. Nice!
However, When we admitted to being an insurance love rat by canceling a former policy only two insurance companies would give us quotes. Both were quoting over £700.
To conclude, If your situation changes, for better or worse and you no longer need your insurance just keep schtum and continue paying. You dont want to get hurt now do ya?
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