Car insurance renewal days of grace to disappear, says Norwich Union

15 December 2004 / by None
Norwich Union, which insures one car in seven in the UK, has said that insurance regulations will mean that after January drivers will lose their fortnight's "intention to renew" period on car insurance.

As things stand policyholders have 14 days between when their current insurance policy runs out and when they must renew it, but new regulations mean this will have to change.

After January, 95 per cent of car insurance details have to be submitted to the Motor Insurers' Database (MID) within 14 days of any changes to the policy, be it a renewal, new business or mid-term change.

Additionally a five-day automatic lapse will come into force on Norwich Union policies, which will see car insurance policies automatically lapsed if notice of their renewal is not received within five of the renewal date passing.

To find out more about car insurance, click here.
© DeHavilland Information Services plc