"Refreshing" Insurance ?

[Tomaz]

I was wondering if anyone here has had any luck in “updating” or “refreshing” their insurance policy mid-term.

To give an example of what I mean, I am mid-term in my policy but looking to be buying a new car. To change over the policy to the new vehicle is not a problem, but I am more concerned about my rates. I know as of this next month, my drivers abstract would be clean and thus my rates would drop. I was hoping for my insurance company to adjust my premiums to reflect my new and clean driving record.

Has anyone attempted this? If so, have you been successful?


A few other notes to help make the situation more specific:

Insurance Company: Aviva
Current Coverage: PL/PD (third party liability)
Want to change coverage to comprehensive (looking to lease/finance new car)

Thanks!

[friedn00dles]

chances are the tickets will still be applied when you change to a different vehicle. Most Companies will only update your abstracts annually. It just depends which company your with and how they do their business.

For a Financed/Leased Vehicles you will need Collision and Comprehensive Coverage. Not just Comprehensive only.

[gmoney82]

unlikely someone will do the work to cancel and rewrite a policy. cancellation penalty might negate any savings

[Masked Bandit]

Your own company (Aviva) will not adjust your rating / record mid-term. They (the industry) won't do it because in reverse, they don't adjust in THEIR favour mid-term either.

For example, if your policy renews on October 1st and you have an accident November 1st, your rates are not adjusted until October of the following year.

Does that make sense?

[Tomaz]

Makes perfect sense. I was just hoping for a break in my benefit. (I know, I am greedy! lol)

[Masked Bandit]

You may still find a better overall deal when shopping around. A good broker may even know how to get you out of paying an early cancellation penalty.

[Tomaz]

Thanks for the help mate!