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Can I let my insurance cover continue to run on a car I'm selling to avoid the cancellation fee?
I'm trading in my car in on 31 July 2017, the insurance expires at the end of August. Rias want £50 to cancel or £53 to change insurance onto new car for the remaining one month. Had good quotes from another insurance company but would need to insure the new car with alternative insurance company from date of purchase 31 July. Rather than pay the cost of cancellation, is it possible to let the insurance cover for my older vehicle run its course until 31 August although I will no longer be the owner of that vehicle?
Asked on 21 July 2017 by Margaret Partington
Answered by
Honest John
Yes you can do that, but it does run the risk that if the vehicle is used on the road it will show as being on your insurance. Make sure you cancel the tax when ownership is exchanged and mark on as SORNED, the new owner when taxing will then have to put their insurance details in to get to pay the tax. That way you covered. Technically, you should cancel the insurance as you no longer have an insurable interest in the vehicle, but there is nothing to say you cannot do it.
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