Short term insurance...

Does anyone know of any companies that do short term insurance??

IE 3 months and under, preferably 1 month to be honest.....

Thanks,
Will

If an insurance company works pro rata you will only pay for the amount of time you are insured and recieve any funds owed back to you should you cancel the policy. Probably be your best bet i should think

So do a month by month payment thing ya mean....

Really want to do it legit and all just incase and i know what ins cos can be like after experiencing them about 4 times now (

My insurance company told me that I was only liable to cough up the whole lot if paying monthly after 8 months.

Dave

Who you with Dave??

We've done this before, but the important thing to remember is that if you're paying monthly for your insurance then, in most cases, what is happening is that the broker is lending you the money for the full premium up front and you're repaying them monthly over a year.

This means that you're not actually paying for your insurance month-by-month, just repaying a loan.

Most policies also have a sliding scale of how much of the premium you'll be refunded if you cancel within a certain time, which probably looks like this ...

Up to 7 days: 90%
Up to 1 month: 75%
Up to 3 months: 50%
Up to 6 months: 25%
Up to 8 months: 10%
Over 8 months: No refund.

So if you take out a policy for £600 PA, repaying £50 per month (we'll ignore interest) and then cancel after 3 months you'll have paid £150, but will still owe the insurance company another £150.

But if the insurance company works pro rata then you will get all of the money back you are owed rather than a percentage as Andrew stated above.

i.e £600 policy which you cancel with 2 months remaining means you will get £100 back (£50 per month)

Find a company who works on a pro rata basis pay the policy in full on a 10mths 0% interest credit card and pay it off when you cancel your insurance

When i sold a motorbike and cancelled my insurance the insurance company paid me the remainig 137 days or what ever it was back by working it out pro rata. Halfax insurance used to work pro rata but not sure if they do now?

I had money back off an insurer once as I'd been paying monthly and when they included the deposit they owed me when I cancelled the policy.

@KP, I'm with Lifesure at the moment.

Dave

Hmm any contact numbers...

Will try and find it for you Will.

Dave

underwritten by nowich union, they do day insurance for around £10 a day, and it gets cheaper for more than 7 days. Anthing over group 15 insurance is £20 a day.

http://www.dayinsure.com/

It looks good and could be usefull if i need something for the future Really need something i can get to use to tax the car so guess ill have to hunt out a pro rata company and do it that way