Should i still be paying my car insurance after its been stolen? even though the insurance has paid me out?

foxychick24

This answer will sound kinda silly, but even though the claims department took your keys to the car, and paid you for the claim, your agents office might not cancel that vehicle off the policy until you call them and ask for it to be removed. The reason is because some people will go get a new car, and replace the new car with the old car (that way if there are any discounts on your old vehicle, the discounts might carry over).

Your agent might not be able to cancel the vehicle from your policy without your authorization, even though they paid on the claim.

Call your insurance company and ask them to back date the cancellation to the day AFTER your car was stolen. They should be able to back date the cancellation (and give you a credit for the day after your car was stolen). It never hurts to ask! :-)

If your monthly bill is already billed, they might not be able to rebill your account this month, but you might be able to see the reflection of a refund or credit next month. SO call your insurance company and tell them you want the stolen vehicle canceled and backdated to the day after it was stolen.

Good Luck!

Rach

When you took out your car insurance you took out 12 months cover. The fact that you chose to pay this over the course of the year is irrelevant, you must pay the year in full. If you do not do this you have claimed and not paid your premium in full and the company would be within their rights to claim back some of the payment they made.

MICHAEL S

If the insurance company took the keys and log book then you have no claim to the car if they have paid you out. I think that you will find that legally once the claim has been paid the cover for that car stops also. have you notified the DVLC that you no longer have the car if not I advise you to do so also include the police crime number for their reference.

fiddler

Of course not.Would you buy a cd if you didn't have a player.

chuckles951

You pay insurance on your new car and an old one you no longer have?? Cancel your old car off the policy. You have been paid off for it. If it is ever found it belongs to the insurance company now.

COLIN T

James i believe the system is that you contracted for a 1 year insurance policy for which the insurers charged you say Â£500. You took up the option to pay this 500 quid by way of 12 monthly instalments instead of all at once. You are NOT buying 12 x 1 month chunks of insurance!

When your car was stolen and the insurers paid you out, they completed their side of the contract. Had you paid the full 500 up in front you would NOT have got a partial refund despite the fact that you had not had a full 12 months use of the policy. They charged you 500 to insure your vehicle against various risks for up to a year. During that year they had to pay out after the car was stolen. The risk you insured against happened and they honoured their obligation. At that time the policy became completed as the vehicle they were covering was written off - but you are still liable for the balance of the fee they charged to cover the risk. As you took up the monthly payment option you must continue the payments until the full 500 quid charge has been paid. (500 quid just an example figure).

The people advising you that you don't have to pay any more as you no longer have the car are wrong i am afraid. You are legally obliged to pay the full sum they originally quoted you to cover the risk.

Sali

stop paying what are you paing for, a stolen car which don't exist. That is crazy, tell them you can not pay it.

Fred C

You didn't insure the car with a different company did you? Because, you should have been able to transfer your policy to the new car?

It does seem that, in some jurisdictions, insurance companies can collect a whole year premium, but in most places, once the policy is paid out, you should be able to cancel it, or transfer it to another vehicle.

WelshLad

Have you phoned the company and asked?

agrostic

Are you serious? You're really asking if you should be paying insurance for a car that you no longer have?

And what do you mean "they still want monthly payments" -- your insurance company is still "forcing" you to pay on a car you no longer have?

If so, your next call should be to consumer agencies (trading standards won't be much use here) and the FSA. They'll not only get it cancelled but should get you a refund on what you've already paid.

Karen P

making use of the SE such as google or yahoo to generate some ideas first if you would like to get the massive information,nonetheless if you would not want to put so much time,here http://www.AutoInsuranceFree.info/free-auto-insurance.htm is a direct and useful resource for your questions.

ihaveasexyhusband

I'm afraid that you do have to still pay the premiums for the old car until you have paid it of in full. What I'm confused about is why you purchased a new insurance cover for your new car and not change your insurance details to the new car?

If you can cancel your new policy and get your old insurance people to add your new car to the existing policy.

miightymiighty

Just call your insurance agent; tell them to backdate the policy canceled effective the date it was stolen (they'll have the claim so they know your didn't need coverage after that date)

I work in an insurance office, and I work with this sort of thing all the time. If you are going to get a new car car shortly I would recommend completely suspending the coverage (if your company allows this) so that you keep your policy but arn't paying for any coverage. This will make it easier to get insurance on a new car; plus some companies give you discounts for how long you've had your policy, etc. Talk to your agent to see what they recomend.

andy w

If your car was stolen and the insurance have paid out on it then you have nothing to pay insurance on.

Stop the payments.

kwakerman U.K.

You will still have to pay monthly until you have paid the full premium for the year. If this wasn't the case it would mean you have had the full benefit of the insurance for less than full payment.

ANDY

Hello

If you had a policy all you do is change it to cover the new car.
Or you Stop the first one with the first Company and Start another policy with another Company.

Andy C

Bob B

For auto insurance the obvious way to get a fantastic quote is do a rate comparison on car policies. Make sure that you compare similar policies with the same limits, auto type, location, etc so that all things are an accurate comparison.

What I usually recommend is an internet comparison quote at http://www.lowratetoday.com since they have big name insurers and can give several quotes on car insurance polices.

rjtcgt

Hi My car was stolen, I reported this to the insurance.My son was in charge of the car at the time.He was a named driver .The car was recovered with no cost to the insurer no damage to car the claim did not have to go any further due to this.I just tried to get insurance for my son they said a price but then told me as there was a claim this would cost £500 more.The firm who dealt with the claim SWIFT said the had to log it as a claim and this could not be removed,My argumet is IT IS NOT a claim but a notification Its only a claim when an exchange of money has taken place ? They say its not their problem not their fault.I have told them that I an seeking advice and will use the FSA they told me that the FSA cant do anything but to go to the ABI however they don't undertake complaints.I have requested any telephone recordings and pare work they hold as i want to present the complaint in full to the FSA.Any thoughts Advice or help would be appreciated Russ

Johnny C

Even if you paid a lump sum for a year of insurance, you only used their service for a portion of the year. You would be entitled to a refund, or in your case cessation of payments, of the balance backdated to the day after the car was deemed written off. Whether you pay with monthly or annual payments, you really only pay and be insured on a per daily basis. My insurance includes a fee schedual within the small print showing of how much money is owed/refunded if i canceled or no longer have insurance within the calender period. The broker/insurance company, getting coverage, and paying for it is completely different department then when you make a claim. And often times its not the insurance that pays you, its an underwriter (the one who actually holds the liability) pays out the claim after reviewing the investigation of the insurance company (claims adjuster). There appears to be a lost of communication within their chain or they needed your consent, as mentioned above. Call them, ask, and follow up.

grace wills

The first thing you should do is report the theft to the nearest Police Station and obtain a crime reference number. Then contact our Personal Claims Advisers who will take the details from you. After this, a number of insurance industry database checks designed to protect our customers from fraud are carried out. A Claims Assessor may also be appointed to discuss the claim with you. When our enquiries are successfully completed an offer will be made to settle your claim.

grace wills

Paula2011

The same thing happened to my husband's 1998 work van about four months ago. We are still paying the monthly premium for a van that he no longer has even though it was found burnt out a few weeks after it was stolen. They told him that we need to continue paying the premium so the policy will follow on to another van but by the time they took the access out of the book price for it there wasn't enough to buy a trailer never mind another van. As my husband is a builder and work is more or less non-existent we used the little money to live. Insurance companies really know how to swindle every last penny out of you. It makes you question why we have insurance in the first place. But like everything else it's just another way to line the pockets of government officials by them slapping the tax onto everything they can get their hands on!!! Thieves in suits.... total reverse of Robin Hood, they steal from the poor to line the pockets of the rich!!!! What expenses don’t pay for the general public will (by enforcement if need be). Sorry for ranting on but it just makes me so mad that honest people are trying to live day by day and these guys are living overly comfortable lives on tax payers HARD earned cash. I am going to ring the insurance company tomorrow so lets hope they see reason and don't give me any legal rubbish as I'm not at all in the mood for their jargon!!

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