Insurance for New Car

[Spo2]

Hi all,

I am wondering what is the best way to go for car insurance with the new car.

1. I have got a quote from Toyota, and I am certain it will be most expensive. As I don't know the car reg, I can't check on the price comparison sites. I am wondering what is the best way around this?

2. I have always part exchanged car, but this time, I am likely to have an old car and a new car. I plan to sell the old car via carwow, cazoo etc to get better money. In the past, when I changed car, I updated the insurance policy by paying additional money. Do I get another insurance for the new car, sell the old car, and lose money on the insurance of existing car? What is the best way for insurance in this situation?

Many thanks for your help.

Sol

[Catlover]

I don’t think you need reg no to get a quote, they will want to know all other Des tail ie make model any vehicle mods. The comparison sites should be able to cope…. Have you tried at all or have you yourself built an hurdle before you started.        
My first Prius I bought privately, and needed time to sell the Yaris I had. I chatted to my insurance company, put my insurance onto the Prius, gave me 24 hours to sell the Yaris, after that it was something like £25 per day for cover. If you get your new car one day, you could move your existing to anyone of those we buy any the same day.      
loved thinking when not a major problem….. just some pre thinking.

[FROSTYBALLS]

Presumably the old car will still be covered by existing insurance. If the policy still has time to run when you get your new car, I would be inclined to contact the existing insurer, explain that you're changing the car but will need insurance on both until you sell the old car, and see whether they will provide  cover for the both cars on a temporary basis for a reasonable extra premium until you sell the old car.

[Spo2]

Joe,

You are correct- re creating hurdles and pre-thinking. Sadly this is how I work- my wife constantly says to stop 'scenario planning'. I would give it a go, and I was wondering would not the dealer provide free driveaway insurance? I was provided on old cars and would expect on new one? I am hoping this would give some more time to sell the existing car.

[forkingabout]

The Toyota dealer offered me 3 days drive away insurance cover included with the purchase price of a new Toyota.

Should be enough time to dispose of your old vehicle & then swop over your insurance to cover your new vehicle. 

[Catlover]

1 hour ago, Spo2 said:

Joe,

You are correct- re creating hurdles and pre-thinking. Sadly this is how I work- my wife constantly says to stop 'scenario planning'. I would give it a go, and I was wondering would not the dealer provide free driveaway insurance? I was provided on old cars and would expect on new one? I am hoping this would give some more time to sell the existing car.

When I traded my g3 Prius for the current Gen4 the offer was there for free insurance for a few days, forgot how many, but I timed the change over from old to new would be while in the office sorting paperwork. 
The scenario I mentioned before when I bought the g3 Prius privately and still had the Yaris with a day free cover….. in that day I got it washed, a car dealer was literally next door to the car wash, went and chatted to the boss, and he bought the Yaris there and then for a bit more than we buy any car had offered. Within 2 weeks he had sold it, and I didn’t have to pay any more to the insurance company.

[Catlover]

Spo2, if your wife has a car then you have no problem at all. Sort out a sale with WBAC or whoever on a Sat morning, drive straight to the dealer with your wife and by arrangement jump into you new car. Job sorted, just relax.

[Roy124]

2 hours ago, FROSTYBALLS said:

Presumably the old car will still be covered by existing insurance. If the policy still has time to run when you get your new car, I would be inclined to contact the existing insurer, explain that you're changing the car but..... 

That is what I did when I changed.  The additional premium on the new car was significantly higher than my old car but the penalty/refund for early termination made paying an additional sum was the best option. Two months later I insured with a new provider. 

[Stopeter44]

1 hour ago, Roy124 said:

That is what I did when I changed.  The additional premium on the new car was significantly higher than my old car but the penalty/refund for early termination made paying an additional sum was the best option. Two months later I insured with a new provider. 

Cripes, do you have to pay a penalty for early termination of insurance in the UK ? Shocking !

[Spo2]

4 hours ago, Catlover said:

I don’t think you need reg no to get a quote, they will want to know all other Des tail ie make model any vehicle mods. The comparison sites should be able to cope…. Have you tried at all or have you yourself built an hurdle before you started.        
My first Prius I bought privately, and needed time to sell the Yaris I had. I chatted to my insurance company, put my insurance onto the Prius, gave me 24 hours to sell the Yaris, after that it was something like £25 per day for cover. If you get your new car one day, you could move your existing to anyone of those we buy any the same day.      
loved thinking when not a major problem….. just some pre thinking.

Joe, 

Did, sites do allow you to ask for quotes based on model and year even if you don't own the car. I got half the price of what dealership quoted along with better terms! Thank you! 

Edited February 4, 2022 by Spo2
Typo

[Spo2]

12 minutes ago, Stopeter44 said:

Cripes, do you have to pay a penalty for early termination of insurance in the UK ? Shocking !

I think it is not phrased as penalty but as amendment fees. I suspect I will be in similar position roy124.

[Catlover]

3 minutes ago, Spo2 said:

Joe, 

Did, sites do allow you to ask for quotes based on model and year even if you don't own the car. I got have the price of what dealership quoted along with better terms! Thank you! 

Question….. you thinking of buying a car, but you want to know what the cost of ownership is. If insurance companies need you to own the car, or know it intimate details how is that going to help you. It isn’t.

Best thing to do is try it… just go to one of the internet sites and try to start off, usually it asks early have you got the car or will get it soon.

[Roy124]

Spo, not quite. 

My option on buying the new car was to pay an additional premium to the existing insurer or forfeit a large proportion of any refund should I terminate early.  In other words with 2.5 months to run, pro rata, I was due around £75.  Continuing to full term, but paying an extra, was about £50.

It was cheaper to continue before switching to a much less expensive company. 

Last year, year 2 of that new insurer the premium was £401.

The premium for a new Yaris, same insured price, from the Toyota insurers is £597 or £636 in installments. 

[Catlover]

Unfortunately Toyota insurance (Toyota is only a headline name, some other company will be behind it) we’re way too expensive for me. I go on the comparison sites and for about 6 years LV is been lowest or thereabouts, and I been with them. Wife is the same, LV, but she went away for one year then gone back to LV. I had to claim couple years ago and the service from LV was top notch, everything went very smoothly.     
I do know for others LV prices don’t work for them. Got to test the water.

[Stopeter44]

Interesting comparison, I had a choice when taking delivery in France. I either stayed with my existing company and the premium was going to be let's call it 450€ (Full cover including road side assistance) or go with Toyota and pay slightly less, for similar cover (lower deductibles, but lower liability coverage). I chose this option because of the carrot of a potential up to 12% discount, valid two years, depending on the EV time of my driving.

This scheme is available on MY21 and beyond Yaris & Yaris Cross. I thought it was worth testing. I'll recheck with my old insurance company when insurance is due, though, to see which is better.

[Catlover]

I always keep breakdown cover separate. I get a good deal here in the UK with Start Rescue….. home breakdown included for around £75 for both our car.

Have had to use them, once the starter motor went in a C1 and she was 15 mile away. She called Start Rescue, within 30 minutes they were out with a flatbed, loaded the car up, brought them back to our local friendly garage 100 yards away, job done. Used them in the lockdown winter of 2019-20, Battery flat on wife’s car. The guy was ok with the Battery but I was educating him about the hybrid unit, he not seen under the bonnet before I don’t think.

[Stopeter44]

2 minutes ago, Catlover said:

I always keep breakdown cover separate. I get a good deal here in the UK with Start Rescue….. home breakdown included for around £75 for both our car.

I don't know if that's an option here, there's no AA and no RAC, there's no tradition of separate breakdown insurance, AFAIK.

[Spo2]

1 hour ago, Catlover said:

I always keep breakdown cover separate. I get a good deal here in the UK with Start Rescue….. home breakdown included for around £75 for both our car.

Have had to use them, once the starter motor went in a C1 and she was 15 mile away. She called Start Rescue, within 30 minutes they were out with a flatbed, loaded the car up, brought them back to our local friendly garage 100 yards away, job done. Used them in the lockdown winter of 2019-20, battery flat on wife’s car. The guy was ok with the battery but I was educating him about the hybrid unit, he not seen under the bonnet before I don’t think.

Joe, thanks for this. Start Rescue looks cheaper than most.

[Catlover]

Yea, and the service has been good for the last 12+ years we been with them., 

[Spo2]

17 minutes ago, Catlover said:

Yea, and the service has been good for the last 12+ years we been with them., 

Thanks - would switch to them when my current one runs out! 

[Mojo1010]

I have been with start rescue for the 4th year with my Yaris, never had to use it once as the Yaris is so reliable. It cost me £30 a year for home and national rescue and onwards fee, thinks it's the 3 stars policy. 

[FROSTYBALLS]

3 hours ago, Catlover said:

Toyota is only a headline name, some other company will be behind it

It is the same with any vehicle manufacturer branded insurance - similar to supermarkets, banks, etc who offer insurance services under their brand. For example HSBC effectively act as a broker.

Insurers have particular client groups they prefer to deal with, and the way they categorise customers may take into account postcodes, occupations, age, driving history, etc, etc, as well as the car being insured. One way they dissuade customers they don't want can be to offer high quotations.

[Cyker]

Ha, you're paying cover for 2 cars that I'm paying for just one!!!  

3 hours ago, Catlover said:

Unfortunately Toyota insurance (Toyota is only a headline name, some other company will be behind it) we’re way too expensive for me. I go on the comparison sites and for about 6 years LV is been lowest or thereabouts, and I been with them. Wife is the same, LV, but she went away for one year then gone back to LV. I had to claim couple years ago and the service from LV was top notch, everything went very smoothly.     
I do know for others LV prices don’t work for them. Got to test the water.

It's worth checking with Toyota as sometimes they give bizarrely low prices, but yeah, they do seem to be well over the odds most of the time when I've asked for a quote. They're a bit unusual as they're one of the few insurers not underwritten by one of The Big Three (or was it Four, I forget now...!), which is probably why their quote algorithm is so seemingly random  

 

[DAN@ADRIAN FLUX]

Hi.

If you need any help with insurance at all then please feel free to drop me a line.

Regards,

Dan.

[Roy124]

Good point about breakdown insurance.  With my Corolla first year was free and provided by AA.  Second year Toyota cover, still provided by AA was much cheaper than the AA direct.

Renewal is due 1st March but only until I get the new car.  Decisions!