Yenyenpark 1st Gear June 10, 2014 Share June 10, 2014 without cancellation after selling the car.. is this okay? I was not entitled to the refund due to an open accident case, and there will be a charge for cancellation. So my idea is just let the current insurance expired in August. Any implication? ↡ Advertisement Link to post Share on other sites More sharing options...
Acemundo Supercharged June 10, 2014 Share June 10, 2014 without cancellation after selling the car.. is this okay? I was not entitled to the refund due to an open accident case, and there will be a charge for cancellation. So my idea is just let the current insurance expired in August. Any implication? in fact, I know of 2 friends who are also forumers here, they do just as what you thought of. main motivation for them is that the money refunded is not going to be much yet, they can drag on for a long time to find their next car so that the NCD is preserved for their next car. the NCD only has a validity of one year from the time you terminated the insurance. Link to post Share on other sites More sharing options...
Kingkong 5th Gear June 10, 2014 Share June 10, 2014 You may sabo the next owner, as he/she may not be able to get an insurance coverage coz yours still not cancelled. Or you may get yourself into trouble, if the car gets into an accident during this period. Reason is simple, insurance coverage is still under your name. Link to post Share on other sites More sharing options...
Jckok888 1st Gear June 10, 2014 Share June 10, 2014 without cancellation after selling the car.. is this okay? I was not entitled to the refund due to an open accident case, and there will be a charge for cancellation. So my idea is just let the current insurance expired in August. Any implication? Why you do that? you can contact insurance company to cancel the car insurance and get refund for remaining months. Link to post Share on other sites More sharing options...
13177 Supersonic June 10, 2014 Share June 10, 2014 I guess even you cannot get back any refund of your insurance, think you can still able to cancel your insurance since you have already sold your car. 1 Link to post Share on other sites More sharing options...
Kangadrool Supersonic June 10, 2014 Share June 10, 2014 (edited) check your policy, am sure that there's such a clause requiring you to inform them. It's more of you and your insurer's liability during this period rather than the refund issue. without cancellation after selling the car.. is this okay? I was not entitled to the refund due to an open accident case, and there will be a charge for cancellation. So my idea is just let the current insurance expired in August. Any implication? Edited June 10, 2014 by Kangadrool 1 Link to post Share on other sites More sharing options...
Heman75 Supercharged June 10, 2014 Share June 10, 2014 in fact, I know of 2 friends who are also forumers here, they do just as what you thought of. main motivation for them is that the money refunded is not going to be much yet, they can drag on for a long time to find their next car so that the NCD is preserved for their next car. the NCD only has a validity of one year from the time you terminated the insurance. 1 Link to post Share on other sites More sharing options...
Xers007 Supercharged June 11, 2014 Share June 11, 2014 It cost me 90 bucks to terminate an insurance policy... Link to post Share on other sites More sharing options...
Kingkong 5th Gear June 11, 2014 Share June 11, 2014 (edited) It cost me 90 bucks to terminate an insurance policy... Which company is that? Do let us know, so that this may become one of our consideration points. I've done a few termination before. No refund, yes, cos left 2-3 months. But never encounter any termination fee lei. Edited June 11, 2014 by Kingkong 1 Link to post Share on other sites More sharing options...
Xers007 Supercharged June 11, 2014 Share June 11, 2014 Which company is that? Do let us know, so that this may become one of our consideration points. I've done a few termination before. No refund, yes, cos left 2-3 months. But never encounter any termination fee lei. The very budget insurance co. My policy just renew last month so have to terminate. Link to post Share on other sites More sharing options...
Kangadrool Supersonic June 11, 2014 Share June 11, 2014 you take "free" gift? The very budget insurance co. My policy just renew last month so have to terminate. 1 Link to post Share on other sites More sharing options...
Yenyenpark 1st Gear June 11, 2014 Author Share June 11, 2014 It cost me 90 bucks to terminate an insurance policy... so u let it lapse by end date? 1 Link to post Share on other sites More sharing options...
Xers007 Supercharged June 11, 2014 Share June 11, 2014 so u let it lapse by end date? of course no... i can get back a few hundred bucks... the policy is only bout a month old... Link to post Share on other sites More sharing options...
Kamani 3rd Gear June 11, 2014 Share June 11, 2014 Which company is that? Do let us know, so that this may become one of our consideration points. I've done a few termination before. No refund, yes, cos left 2-3 months. But never encounter any termination fee lei. mine also expired in 2 months and called them and they say they will refund full amount rounded up to the nearest dollar anyway its been already 1 month and yet to receive the cheque It might be just about $150-$160 Link to post Share on other sites More sharing options...
Xers007 Supercharged June 11, 2014 Share June 11, 2014 mine also expired in 2 months and called them and they say they will refund full amount rounded up to the nearest dollar anyway its been already 1 month and yet to receive the cheque It might be just about $150-$160 which ins co is urs? looks like budget ins co will charge admin fees to terminate... 1 Link to post Share on other sites More sharing options...
Kamani 3rd Gear June 11, 2014 Share June 11, 2014 which ins co is urs? looks like budget ins co will charge admin fees to terminate... AXA - but have been with them for 9 years but go thru' broker of course Link to post Share on other sites More sharing options...
skcar 1st Gear June 11, 2014 Share June 11, 2014 Maybe termination fees is to make up for the broker's commission ,since is only 1 month. 1 Link to post Share on other sites More sharing options...
Kamani 3rd Gear June 12, 2014 Share June 12, 2014 AXA - but have been with them for 9 years but go thru' broker of course Just received call today morning from AXA broker and they sending cheque today too and paying full amount of balance number of days which was less than a month actually and did not cut even 1 cent ↡ Advertisement 2 Link to post Share on other sites More sharing options...
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