Car insurance - pay monthly?

[jonnyscot]

Hi, our annual car insurance renewal is coming up for renewal, current 5 year NCB on class 1 insurance, we've been looking around to change out the car and I think we'll replace the vigo within the next 4 months or so, with that in mind I'm just wondering if it's a viable option to try and find a broker (If available ) to pay insurance premiums monthly, not much of a hit to lose as we were only 12.5k I think last year, but just wondered if it's possible?

Thanks

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[stament]

Can't you just change the policy to the new vehicle when you buy it? that's what we do in the UK but not sure how things work here

[jonnyscot]

Hi, wish you were right, but from what I've heard/read here the car insurance follows the car and not the owner,

it's a bit weird in my opinion insurance following the car and not the owner,, since some policies here also like in UK can have named drivers,

also I think although not certain that the NCB is lost by the owner when he sells the car but can be passed to new owner.

As said in my initial enquiry although only a few thou baht in saving, but better in my pocket than the insurers if I found a half decent policy that we can pay monthly, then just cancel when we sell car,

ok I suppose there will be cancellation fees etc but still should be cheaper than paying a one off annual fee and selling on the car after say 3 months later

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[stevenl]

Insurance contract will be for 1 year, monthly payments or not. And with a partial refund for unused periods, you might as well stick to where you are now.

[jonnyscot]

Just took out an additional year with our current insurer LMG, asked about pay monthly and gave reason, but they said could do 6 monthly with no further payment for cancelling inside first 6 months, mind you we had to wait a couple days for the LMG shop to get the ok on this from head office Bangkok, happy enough with that, although no reduction in overall payment from last years premium, still happy enough as that suits our plans

Thanks

Insurance contract will be for 1 year, monthly payments or not. And with a partial refund for unused periods, you might as well stick to where you are now.

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Edited August 8, 2014 by theoldgit
Quote fixed

[Tham1]

So if sell my car the insurance I paid goes with it or does new owner need to buy insurance and i cancel mine?

[stevenl]

So if sell my car the insurance I paid goes with it or does new owner need to buy insurance and i cancel mine?

Both are possible.