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Can I Transfer My Insurance To My New Car?

Can I Transfer My Insurance To My New Car?

When buying a new car, you might want to transfer your existing insurance policy, rather than setting up a new one; doing so can make it easier to retain no claims bonuses and other aspects of your old policy that you want to keep. However, the actual process of transferring your insurance to a new car can involve overcoming some complications. To this end, it’s worth checking the details of policies available through providers to make sure you’re getting the most out of moving your insurance.

There can be many reasons why you might want to transfer your insurance to a new car; you might just be upgrading your current vehicle, or you may be getting a second car that you want to make your main mode of transport. The process of moving your insurance over involves contacting your current insurance provider and informing them of your decision, and of what car you’ll now be driving. Depending on the make and model, and what kind of driving you’ll be doing, it’s likely that your premium will be affected.

In most cases, your insurance provider will have a straightforward plan in place for you to move your policy; you’ll have to negotiate a revised quote based on a new car, and will also have to transfer your policy in a reasonable amount of time. The longer you leave transferring your insurance, the higher the risk of driving without insurance on your vehicle. Make sure that you give your insurance company plenty of notice before you finalise a new car purchase so you can avoid a gap between two policies.


It’s also worth exploring how you can transfer your no claims bonus; if you’ve built up a significant no claims discount, and then you’ll be able to switch it to the new car as part of your revised quote. However, you’re only able to hold a no claims discount on a single vehicle at a time, and in the name of one person. If moving your insurance to another provider, you’ll also need to be able to offer proof of your existing no claims bonus.

When switching to a new car, it can similarly be worth investigating gap insurance for specific situations; this insurance protects you against a shortfall, or depreciation, in the value of your old car if you need to replace it as the result of damage, theft, or being written off completely. The gap policy means that you can cover the difference between your settlement with another insurer and the original amount of money that you spent on a car; taking this approach can help you to avoid a struggle to face a debt on your finance.

It is possible, then, to transfer your existing insurance to a new car. However, you will need to be specific in terms of your new model and driving habits, and will have to accept a potential rise in your premium payments if the provider deems you to be at a higher risk than before you switched. Risk assessments can depend on changes on circumstances, which might include you taking on a faster car, or one that has a lower safety record. Make sure that you check with your insurer before you arrange to move your policy.

About Liam Patterson

Liam Patterson writes this blogs about the latest car insurance deals. He recommends learning more about car insurance at He’s also recently been blogging about his travels in south East Asia.