Transferring your Car Insurance |

How to transfer your car insurance if you change cars during your policy term

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Unless you’ve specifically requested a policy to cover multiple cars, your car insurance policy only allows you to drive a specific car. That means if you change the car you’re driving, you’ll need to let your insurance provider know. They’ll then amend your insurance policy.

Almost all insurance providers will allow you to transfer your policy from one car to another, amend your policy to reflect that. Remember though, it might result in a change in premium and potentially an administration charge.

Frequently Thought Questions

Car insurance can feel like a complicated business. But we’re here to de-mystify it. We try to keep things simple so here’s our guide to answer the questions you might have when it comes to transferring your car insurance.

When should I tell them?

Whether you’re thinking of buying a brand new car from a dealer, or a second hand one from your local paper – you’ll probably want to know what the new car will cost you to insure.

As soon as you have an idea which car or cars you’re interested in you could contact your insurance provider with the registration details and ask them. Better to find out the likely cost of insurance before you buy the car than leaving it until later and getting a nasty surprise.

How do I tell them?

You can try picking up the phone and giving the insurance provider a call or, you can use their online portal if they have one.

What will the insurance provider do?

They’ll confirm the make and model of the vehicle(s) with you and check whether anything else has changed on your policy. They’ll then be able to give you the cost for insuring the new car which you can factor into your decision.

Will it change the cost of my insurance?

That depends, but it is likely to change your premium. This could be good news or not so good news depending on what you’re buying. If you’re buying a very different car, for example one that is much more powerful, then the premium might go up.

What do I do if my premium does go up?

If your premium goes up, you’ll need to meet the increase. You’ll usually be asked to pay the extra in the method you agreed at the start of the policy, either a lump sum or an increase to your monthly payments. It’s possible you might be offered, or if not, you could ask, if there is a possibility of spreading the cost over the number of months remaining on your policy.

Will it cost anything to transfer my insurance?

There’s usually an administration fee of between £15 and £45 payable depending on your insurance provider. Some will waive this fee if you do this online – best to check the details before going ahead.

Do I need to stay with my current insurance provider?

You don’t need to no, but this could be the most straightforward option. If you’re happy to stay and the costs are reasonable, your policy will be adjusted for you.

If you feel the changes are unreasonable or you know you can get a much better deal elsewhere, you can cancel your policy and take out a new one.

Remember there are usually cancellation fees that you have to pay and you won’t earn any NCD during that year of insurance, so you’d need to weigh these up against the saving you’d make by switching. Check your policy for details of how much these fees are.

Anything else?

Just make sure you’ve sorted out the insurance before you climb behind the wheel of your new car! In the excitement, it’s all too easy to forget. If you’re buying a car from a dealership they’ll often give you temporary insurance for a period of a few days to tide you over until you’ve sorted it out long term. If you’re buying a car privately, make sure you’ve adequate cover. You don’t want to have an accident and find you’re uninsured.

Comparing prices

If you’re transferring your insurance, it’s always worth running a comparison before speaking with your insurance provider. That way, you’ll get a good idea of what they should be offering you. If they’re too expensive, you’ll have a number of other options to turn to. You can do that here really easily with our comparison service. To find it just follow the link and find out today what you could save.

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