Car Insurance payment

[FeTT]

Some of you will have seen my recent thread about my car being written off by a third party whilst parked.

 

Anyway the claim has now been settled third party has accepted liability, payment has been made by Direct Line to me and my the cheque for my excess is on its way this week. Had to give my courtesy car back on Monday so I'm now car less.

 

I was paying my insurance monthly started in March on a mk3 Golf paid my deposit then paying £45 a month or so, got my mk4 Golf GTI in May and transfered my insurance to that premium went up to £65 I think then added alloy wheels and told them and payment went upto £75 a month .

 

Anyway question is since I no longer have a car will I be able cancel my policy and not have to make any more payments, or when I get a new car as I'm currently looking for one if the premium is cheaper than my previous one will my payments go back down?

 

I'm looking at a couple of cars at the moment so haven't decided what to do yet, but at the moment I really can't be bothered talking to DL until I have to as some of there staff have been horrible to deal with, not all mind you some were nice. Also am I right in thinking that since the third party accepted liability this shouldn't affect my premiums at all.

 

Thanks for any info

 

Sean

[vusys1]

if you cancel you would only have to pay the cancellation rate as the claim is non fault and 3rd party have paid costs you should not be penalised. If you change your vehicle to a lower grouping the premium should go down.

 

as the claim is non fault etc it should not make a diff,but some companies do take into account the frequency & type of claims regardless if not your fault.

[FeTT]

Thanks for that mate I'm probably going to keep my policy going as they were pretty competitive, this was my first insurance claim, so hopefully won't effect anything.

 

One thing I didn't understand though was when I first got my Golf GTi I phoned them from the dealership gave them the reg number and got my insurance transfered straight onto it after getting the certificate I noticed it was insured as a GTI 1.8 Turbo when the car was not the Turbo version told them this and it only saved my £15 a year when the Turbo version is group 14 and the standard version group 10 I would have expected the difference to be bigger than that. At the same time I told them about the aftermarket alloys which added £150 to my premium, so a turbo makes the car less of a risk than a set of cheapish alloy wheels strange lol.