Saving on Insurance Renewal - Extra Day

team teri on 05/03/2024 - 16:16

Funny that. The old insurance runs until 13th of March 11:59pm. That's 1 minute to midnight.

The renewal I got sent starts on 13th of March. Meaning the car would be covered under both the old and the new policy for 23 hours and 59 minutes.

Since the renewal quote was stupid I shopped around. Turns out the best offer is to take out a new policy with the same company. My new policy now starts on 14th of March, getting an extra day at the end: it runs until 11:59 on 14th of March 2025.

There's a few more dollars saving on top of not paying the loyalty tax.

Of course, if a comet hits some time between 11:59:00 pm and 11:59:59 pm I'll regret that choice. If I live to regret it, since I'll be camped right next to my car that night…

Automotive Car Insurance Insurance

Comments

  • Dollar General on 05/03/2024 - 16:29

    Well the insurance company will need to prove the comet hit between the 1 minute you were uninsured

  • PissLUR on 05/03/2024 - 16:30

    you can also get 2 weeks free insurance on expired policy.

    • cloudy on 06/03/2024 - 20:14

      Can you explain this?

      • PissLUR on 06/03/2024 - 20:20

        they will send out reminder letter that your renewal is overdue and give you a 2 weeks deadline to pay. so if anything happens, just pay the renewal. otherwise move on to the new policy.

        • cloudy on 06/03/2024 - 20:20

          Ah nice!

  • Porker on 05/03/2024 - 16:50

    A comet might not be covered under policy regardless of impact time. Check your T&Cs.

    • jv on 05/03/2024 - 17:19
      -2

      A comet might not be covered under policy

      Yes they are.

  • Nugs on 05/03/2024 - 17:10
    +1

    "Turns out the best offer is to take out a new policy with the same company"
    yup
    .

  • jv on 05/03/2024 - 17:14

    Of course, if a comet hits some time between 11:59:00 pm and 11:59:59 pm I'll regret that choice.

    That's why Insurance Actuaries get paid the big bickies…

    • Gdsamp on 05/03/2024 - 17:24

      statisticians be like yeah this may or may not happen idk

  • jv on 05/03/2024 - 17:16
    -1

    There's a few more dollars saving on top of not paying the loyalty tax.

    I actually called my insurance last month, they offered me a generous discount, I told them I could get it cheaper and after a minute of two, they matched the offer…

  • Euphemistic on 05/03/2024 - 18:34

    But its not 11:59:00. Its 11:59. The seconds dont matter, or are rounded to the nearest minute.

    Having it expire on the same date that it starts is to ensure there is no gap in cover for renewal.

    I wonder what the claim rate is for the last day of the policy?

  • brendanm on 05/03/2024 - 19:39
    +1

    Take out a policy with company A. Cancel before the end of the cooling off period and take out a new policy with company B. Rinse and repeat. Free insurance.

  • bobbified on 05/03/2024 - 21:16

    So after 365 years, you get one year free! woohoooo!

    • altomic on 06/03/2024 - 18:50

      BTHSFGOF

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