Motor If I can't pay my insurance on time

K

kiara

Guest
I've posted elsewhere here about my cashflow problem but I have a question which is specific to insurance.

My insurance expires on Friday 21st. I need to use the car on Saturday and Sunday but right now I don't have the 30% deposit required for renewal. I will have it when I get paid on the 27th. I only need to use the car on Saturday and Sunday and can leave it parked in the drive after that until I get paid on Thursday.

If I return the documents on time (Statement of facts, no claims cert) would I be covered for the weekend because my application is going through even though it's not complete without the payment?

I have been paying by monthly direct debit and have never missed any payments previously.
 
Hi Kiara,
For what it's worth, my insurance documents from 123.ie state:
If we do not receive both the payment and the documents we have requested in this letter on or before your renewal date the policy will automatically lapse with effect from the renewal date

You will not be covered if you do not complete the payment.

Perhaps you should consider cancelling your plans for the weekend?
Certainly avoid money lenders like the plague (as per your other thread)

Nicola
 
I'm waiting on people from 123.ie to call me back. My current insurance is with Zurich. Zurich website says renewals can be paid by 9 monthly payments instead of 30% deposit. That should work perfectly for me. It's costing about €70 more over the year than Travelers but paying extra to an insurance company is 100% preferable to the moneylender option (other thread).
 
Thanks will update later when they get back to me.

I'm so stressed about money. People always suggest doing something to improve your income, etc. I am and it's the cost of the college course that has got me into this financial mess.

Thanks to everyone posting here, there is so much helpful information on this site.
 
You must log in or register to reply here.
Back
Top