Car insurance grace period uk

The new car insurance grace period is the timeframe your insurance company gives you before you must add a new car to your insurance policy. The existing policy‘s coverages are conveyed to your new vehicle during this time, giving you some coverage if you get in an accident right after you buy a new car.

The vast majority of insurance companies will let you choose between paying monthly or yearly for your policy. Your policy will therefore expire at midnight on the expiration date, unless your policy auto renews. In the UK, car insurance is a legal requirement to have a policy in place if you own a vehicle.

Depending on your car insurance company, your grace period can vary from 24 hours to 30 days. If your car insurance lapses, you have to either purchase a new policy or try to reinstate the cancelled policy. You may be able to reinstate a cancelled car insurance policy by filing a no-loss statement and paying a reinstatement fee.