croftrobin Posted January 19, 2016 Share Posted January 19, 2016 (edited) My annual renewal is in Febuary. Been insured for the last 6 years If I plan to change the car say in June, can I just buy 4 months insurance or do I have to buy a full years and then either cancel for a part refund or lose all. Have had differing views on this. Edited January 19, 2016 by croftrobin Link to comment Share on other sites More sharing options...
billphillips Posted January 19, 2016 Share Posted January 19, 2016 Just renew the insurance as normal. When you sell the car one of the enhancements will be that your selling it with insurance. Short term or refunds are not economical or worth the hassle involved. Live life, relax and enjoy. Your going to take a hit when you sell anyway, what's another 5k or so? Link to comment Share on other sites More sharing options...
croftrobin Posted January 19, 2016 Author Share Posted January 19, 2016 Just renew the insurance as normal. When you sell the car one of the enhancements will be that your selling it with insurance. Short term or refunds are not economical or worth the hassle involved. Live life, relax and enjoy. Your going to take a hit when you sell anyway, what's another 5k or so? OK all well if I sell it privately, what if I want to trade it in with a garage? Its more like a 9k hit - would buy another smartphone! Link to comment Share on other sites More sharing options...
lj cm Posted January 20, 2016 Share Posted January 20, 2016 Buy a 2. or 3. Class insurance or just the mandatory insurance. But it's a big risk to take!?. Link to comment Share on other sites More sharing options...
billphillips Posted January 20, 2016 Share Posted January 20, 2016 Just renew the insurance as normal. When you sell the car one of the enhancements will be that your selling it with insurance. Short term or refunds are not economical or worth the hassle involved. Live life, relax and enjoy. Your going to take a hit when you sell anyway, what's another 5k or so? OK all well if I sell it privately, what if I want to trade it in with a garage? Its more like a 9k hit - would buy another smartphone! You will take a hit if you go for short term or a refund on the insurance, you will only get a small % of the un-used premium. That pales into insignificance by the loss you will make by selling to a dealer, my experience is that they are greedier than their western counterparts.You could try changing your insurance broker to reduce the initial cost of insurance or you could renew with a voluntary excess on the policy. I use a 5k voluntary excess and my class1 is 10,500 (down from 27k). Link to comment Share on other sites More sharing options...
Gsxrnz Posted January 20, 2016 Share Posted January 20, 2016 Just renew the insurance as normal. When you sell the car one of the enhancements will be that your selling it with insurance. Short term or refunds are not economical or worth the hassle involved. Live life, relax and enjoy. Your going to take a hit when you sell anyway, what's another 5k or so? OK all well if I sell it privately, what if I want to trade it in with a garage? Its more like a 9k hit - would buy another smartphone! You will take a hit if you go for short term or a refund on the insurance, you will only get a small % of the un-used premium. That pales into insignificance by the loss you will make by selling to a dealer, my experience is that they are greedier than their western counterparts.You could try changing your insurance broker to reduce the initial cost of insurance or you could renew with a voluntary excess on the policy. I use a 5k voluntary excess and my class1 is 10,500 (down from 27k). " I use a 5k voluntary excess and my class1 is 10,500 (down from 27k)." The Actuary who figured out that premium differential must be an absolute genius. Link to comment Share on other sites More sharing options...
stevenl Posted January 20, 2016 Share Posted January 20, 2016 You will take a hit if you go for short term or a refund on the insurance, you will only get a small % of the un-used premium. I have done this twice now, and both times the refund was about 80% of the unused premium. So I would not call that a small %. Link to comment Share on other sites More sharing options...
billphillips Posted January 20, 2016 Share Posted January 20, 2016 (edited) You will take a hit if you go for short term or a refund on the insurance, you will only get a small % of the un-used premium.I have done this twice now, and both times the refund was about 80% of the unused premium. So I would not call that a small %. There you go then, that's the route to take! Edited January 20, 2016 by billphillips Link to comment Share on other sites More sharing options...
billphillips Posted January 20, 2016 Share Posted January 20, 2016 Just renew the insurance as normal. When you sell the car one of the enhancements will be that your selling it with insurance. Short term or refunds are not economical or worth the hassle involved. Live life, relax and enjoy. Your going to take a hit when you sell anyway, what's another 5k or so? OK all well if I sell it privately, what if I want to trade it in with a garage? Its more like a 9k hit - would buy another smartphone! You will take a hit if you go for short term or a refund on the insurance, you will only get a small % of the un-used premium. That pales into insignificance by the loss you will make by selling to a dealer, my experience is that they are greedier than their western counterparts.You could try changing your insurance broker to reduce the initial cost of insurance or you could renew with a voluntary excess on the policy. I use a 5k voluntary excess and my class1 is 10,500 (down from 27k). " I use a 5k voluntary excess and my class1 is 10,500 (down from 27k)." The Actuary who figured out that premium differential must be an absolute genius. Yea! Don't you just love it when Thai logic comes into play at your advantage. Anyone that's interested in a quote try this... https://www.gluaygluay.com/en/ Link to comment Share on other sites More sharing options...
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