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  • FIRST POST
    • chewback
    • By chewback 15th Sep 17, 2:12 PM
    • 55Posts
    • 48Thanks
    chewback
    Cooling off period
    • #1
    • 15th Sep 17, 2:12 PM
    Cooling off period 15th Sep 17 at 2:12 PM
    Does an insurer have to offer a cooling off period if I add a named driver to a policy?

    My policy has been running for 2 months
Page 1
    • rudekid48
    • By rudekid48 15th Sep 17, 2:28 PM
    • 2,034 Posts
    • 3,522 Thanks
    rudekid48
    • #2
    • 15th Sep 17, 2:28 PM
    • #2
    • 15th Sep 17, 2:28 PM
    No. Only when you take out a new policy / renew an existing one.
    All matter is merely energy condensed to a slow vibration, we are all one consciousness experiencing itself subjectively, there is no such thing as death, life is only a dream, and we are the imagination of ourselves.
    • chewback
    • By chewback 15th Sep 17, 2:32 PM
    • 55 Posts
    • 48 Thanks
    chewback
    • #3
    • 15th Sep 17, 2:32 PM
    • #3
    • 15th Sep 17, 2:32 PM
    Thanks. If I were to add a named driver and then took them off after a month would I get a refund?
    • rudekid48
    • By rudekid48 15th Sep 17, 3:08 PM
    • 2,034 Posts
    • 3,522 Thanks
    rudekid48
    • #4
    • 15th Sep 17, 3:08 PM
    • #4
    • 15th Sep 17, 3:08 PM
    Only your insurer can answer that, sorry.
    All matter is merely energy condensed to a slow vibration, we are all one consciousness experiencing itself subjectively, there is no such thing as death, life is only a dream, and we are the imagination of ourselves.
    • dunstonh
    • By dunstonh 15th Sep 17, 4:05 PM
    • 89,561 Posts
    • 56,019 Thanks
    dunstonh
    • #5
    • 15th Sep 17, 4:05 PM
    • #5
    • 15th Sep 17, 4:05 PM
    The expectation of that scenario is that you would pay an admin fee for adding them and possibly an increased premium. Then when you take them off, you would pay another admin fee and a partial refund (not exactly pro-rata and may not be worth it).
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Aretnap
    • By Aretnap 15th Sep 17, 4:22 PM
    • 2,816 Posts
    • 2,307 Thanks
    Aretnap
    • #6
    • 15th Sep 17, 4:22 PM
    • #6
    • 15th Sep 17, 4:22 PM
    If you only need to add a named driver for a limited period you can usually have them added as a temporary additional driver for a set period (a week, a month, whatever). That way you only pay one admin fee, nor do you have to pay the extra premium for the full year (assuming the extra driver increases your premium - it won't always do so).
    • forgotmyname
    • By forgotmyname 15th Sep 17, 7:25 PM
    • 26,034 Posts
    • 10,383 Thanks
    forgotmyname
    • #7
    • 15th Sep 17, 7:25 PM
    • #7
    • 15th Sep 17, 7:25 PM
    Was the premium considerably more than the admin fees?
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
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