Bedridden greetings all.
After breaking my leg pretty badly, Doc says I should avoid driving entirely for at least two months. My insurance is about to renew and talking to my old man on the weekend, he suggested waiting until I can drive again.
Stupid to consider or am I just not thrifty enough? Saving would be equivalent to a couple hundred.
No one else drives my car and it's locked in a garage for what it's worth. It's no financial problem for me to pay the renewal right now though either.
Nah just wait it out
fire & theft for two months?
This..
One day when we were out, some thugs jumped the fence, pried open a house window and came in found the keys, and used the keys to open the garage door, unlock the vehicle and open the electric gate.
OP, don't think that just because the car isn't being used and is "locked away" that it isn't at some (minuscule) risk.
Other than fire or theft (unlikely given its in your garage but unlikely events are what we tend to insure for in the first place), wait. You usually get better deals as a new customer anyway, and you'd be wasting two months of premiums if you renewed.
Looking up quotes for fire and theft now and I'd still save a decent bit, so that's where I'm leaning. Thanks for the replies all.
Renew it. You might not be able to drive but your friendly local car thieves can.
I'd say it all depends on your premium. If you're premium is $1,000pa for a $80,000 car, I'd pay the $150ish over the two months to protect $80,000 from theft and other damages.
You mentioned a saving of few hundreds, so I assume you have comprehensive cover.
Maybe change it to third party cover and change to comprehensive once you are back?
This will cover anyone driving it if they hit a rolls.
Ultimate Ozbargain Strategy…
Take out a new policy (full comprehensive) with a different insurance provider every 14 tot 21 days cancelling within the cooling off period to obtain a full refund. Utilise until all provides within the Australia market are exhausted. Return to original insurance company and continue where you left off!
would make sense but just make sure they dont reactivate the old insurance policy, which will be back dated.
also consider the no claims bonus, which should be valid if you swap providers but not if you let the original lapse
Provided the garage isn't under any big trees I'd probably risk it and wait until you can drive again to renew…
5 weeks later….there will be a new thread.
Help…I let my insurance lapse due to my broken leg, thieves stole my car…can I still claim? LEL.
Might be worth checking if you have a no-claims bonus on that policy that you may lose. When we sold a car and bought a new one, the lady from SGIO told us to transfer the policy rather than cancel it and create a new one to not lose the bonuses for having the first policy.
Wait it out, the threat of someone breaking in and stealing it is miniscule, and you might even be able to claim it on your house insurance if it happened
Obviously depends on how much car is worth. For a lambo, probably not worth the risk
What did your insurance company say?
Not much. Got a new fire and theft policy with a new insurer. Old insurer wasn't the cheapest and most of the benefits were part of my comp plan or roadside assist.
If you wait, remember to set a reminder to buy! We've seen too many people forget
I'd say screw it. Wait the two months.
In that time do some shopping around and find yourself some cheaper insurance.