Axa insurance cancellation - £25 charge!

cris01
cris01 Posts: 27 Forumite
First Post First Anniversary Combo Breaker
in Insurance & life assurance
Yesterday I used the comparison sites on MSE to get a quote for car insurance, the cheapest was with AXA. My current insurance does not finish until 29/07/10, so I completed all the details online, and paid the one off payment by credit card. It was only when discussing the details with my partner that I realised that my car was an accident damaged repairable, cat D, and was not covered by the insurance ( a fact hidden in the t&c's). As i had to put in the reg no, and the website reurned the details of my car, I'd assumed it was ok. Anyway, I rang today to cancel, and was told that I would have to pay a cancellation fee of £25 ( even though the insurance hadn't even started!) I was told the reason was admin costs had been incurred. I have since looked at other insurers websites, the ones I have checked don't charge if cancelled within a certain period, 14 days seems to be the norm. I thought by law there had to be a 14 day "cooling off" period. I just wondered if there was anything else I could do besides complain to AXA?
Thank you, any advice appreciated!

Comments

  • dunstonh
    dunstonh Posts: 116,342 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    I have since looked at other insurers websites, the ones I have checked don't charge if cancelled within a certain period, 14 days seems to be the norm. I thought by law there had to be a 14 day "cooling off" period. I just wondered if there was anything else I could do besides complain to AXA?

    It is permissible for them to charge an admin fee during the cancellation rights period. A few do this. As long as its disclosed (as in their published fees) then its acceptable.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • cris01
    cris01 Posts: 27 Forumite
    First Post First Anniversary Combo Breaker
    Thank you for that info. I shan't use them again!
  • tralu
    tralu Posts: 53 Forumite
    Axa insurance whether it be for travel, home, life, pet, life, home, or whatever, are CRAP !!!! there has been sooooooo many threads on here to warn people what axa are like, and still people insure with them, and then find out they wish they hadn't!!!
    Please people, read the forums first before you insure with axa in particular, even if axaa seem to be giving a resonablel deal, they are out to get yoou.

    Be warned!!!
    tralu
  • dick_turpin
    dick_turpin Posts: 207 Forumite
    First Anniversary Combo Breaker
    I have been with Axa for nearly two years, submitted my first claim at Christmas and am still waiting payment despite being assured it was being dealt with as a priority! Highly not recommended and I will change company at the end of the current insured year.
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