Fractured/Suspended insurance (Student)

[powergen05]

First off.....Hi all, im new here :)

right, i'm a new driver, not much money, and at present have no car, but just looking for some info regarding insurance


I am due to start Uni in London in september, and will no be driving during term time.
During the holidays (which range from 2 weeks to 3 months) i intend to drive whilst at home.

My problem is that i cannot afford to keep a car insured during term time, and have no idea what sort of options are available to me. For some reason (probably my age and gender, M/18) the majority of insurers will only offer me annual payment options, so starting a policy, and canceling as-and-when seems a non-option


is there some kind of cover i don't know about which i can use for a short period, then simply cancel when i return to London for term time? (i looked up short term cover, but this appears to be limited to 28 days annually)


thanks in advance for any help

Si

[jay2505]

norwich union do a short term policy and a fixd price...aint too expensive eitha

[mike06]

Hi Jay,

I have some experience from various insurance companies such as www.17to40.co.uk and www.womenonwheels.co.uk, so might be able to help.

Many companies can offer suspension policies, that you can basically turn on and off as necessary. The way it works is that you accept a full years premium, and during that time you can tell the insurer that the car isn't being used. During this time, you still continue to pay the premium, however at renewal, you'd receive this amount as a discount (suspension credits). This gives you the flexibility to have a policy that you can turn off and on, with no need for cancellation fees or a new deposit each time.

With the companies I have worked with, if you drive the car for more than 6 months of the policy (and suspend for the rest) you actually get our years no claims bonus to! So you can imagine how cheap the second year would be.

I hope this helps, if not now, then in the future. Feel free to ask me anything :)