Need advice: what to do with existing insurance, car

[oldfool]

Quick facts: Blew 60, got a 16 month ban (down to 12 if I do the course which I will) and fine. Renewed my insurance in February.

Obviously I'm a complete idiot and deserve what I got (and probably worse).

Dilemma: do I keep my car, or sell it? If I keep it, what should I do with my insurance - let it run, telling them of the conviction next February; cancel it now, getting some money back; something else? Obviously I won't be driving before next February (in fact before next April!) but would be good to keep up theft cover I guess, if I keep the car.

Sorry if this sounds a bit confused. That's because I am. Many many thank yous to anyone who can advise. Insurance co is Direct Line.

 

[oldfool]

Sorry to bump - but would really, really appreciate any advice anyone could offer...

with many thanks in advance

 

[worriedsick]

Hi,i got a 20month ban reduced to 15 and i am keeping my car in garage,i have declared it as sorn and i rang my insurance company to tell them whats happened and they refunded me £450 my insurance was due to run out in july,but it depends where you are keeping your car etc. My insurance was due to be running out soon so made sense to cancel policy. Im putting the money i got back towards insurance next year as im sure its going to be quite hefty

 

[Paisley]

Hi, I have been in a similar situation twice!! When I lost my licence in 2008 I told my insurance company and because I had 2 other named drivers on the policy the policy was kept in my name but excluded from driving the car. When I got my licence back I informed Tesco and they charged me about £40 to go back on the insurance.


Second time around, I did the same, declared the car SWORN but because the car was in a driveway (not in a garage) I reduced the cover to third party, fire & theft.


As I was banned for 3 years I eventually sold the car after 1 year and cancelled the insurance. So when I do get my licence back I am looking at big bills!

So if you can I think keep your insurance going.