First time car insurance policy

jenny_f

I bought my first car yesterday (used). I'm so excited!

I had to get the insurance there and then so that my b/f could drive it home.

I got myself and him covered, fully comp, no legal cover and no breakdown cover. Going to get breakdown through AA or RAC. I was quite impressed with the price and went with Direct Line, I did this as they've proved and average when I've been comparing and we got multi car discount.

However the excess is £600! I've since done a tesco quote with a £350 excess which is slightly cheaper than Direct Line. Direct Line charge £25 to cancel

The question is do I pay and cancel, getting a better policy (as lower excess), I've also seen £50 cashback online if you enter a code. Also if I can find someone who has tesco car insurance we both get £10 gift card/10000 points. So overall cheaper.

Will the cashback and the refer a friend both work or only one??

Any comments???

lisyloo

Check wkith Direct Line first before you cancel (or get the info from their website).

Usually you will be penalised heavily for short term cover
e.g. for a week they might charge you for one month or two months.
This is because they have already spent most of their admin money setting up your policy and getting a quote, so whilst you have only had a small amount of time on cover, they've still spent most of their costs.

You should find out what you will get back first before considering cancelling.
I bet it will be more expensive than you think.

I suspect you cannot use both offers together if both use a differnt link.

LadyIndecisive

Call Tesco and see if they can lower the excess or match the quote. Tesco Car Insurance and Direct Line are both policies written by the same company, RBS Insurance, which may help in this instance.

jenny_f

Direct line said that in first 14 days it's £25 fee, after this it's £25 plus the cost of what I've used.

Tesco is cheaper than Direct Line anyway with a lower excess.

McKneff

Re your breakdown cover if you havent already got it.
In The Mirror on Saturday the AA were advertising
Basic cover for £39 but with a £20 M & S Voucher. Thought that was a pretty good deal.

The Phone number is 0800 032 0675 and you have to quote the reference code 6882

lisyloo

plus the cost of what I've used

This is the bit I suggest you check.
How do they calculate what you've used?

If it was "fair" the pro-rated 20 days would be
premium * 20/365

However many insurers calculate this on a very unfair basis.

hellokitty08

I did manage to cancle a policy with direct line last year within 14 days for free, but it might have been because they couldnt offer the cover for my car and we didnt realise that until after 10 days! They were very co-operative in the end.

hels14

Every insurance policy has a grace period - time to change your mind! You usually get 14 days minimum to change your mind. Ring Direct Line and tell them you've changed your mind and you're entitled to all the money paid to their agent! I work in an insurance company so know this is true! Good luck x

jenny_f

Can you give me something legal/better to quote.

They do state in T&C's over the phone and online that its £25 in first 14 days then after 14 days it's £25 plus whatever you've used

I ideally want them to match tesco

~Brock~

What hels said is true - no insurance comapny can charge if a customer cancels within 14 days UNLESS the customer has made a claim. These are in the General Insurance rules (ICOBS) laid down and enforced by the FSA.

jenny_f

thanks. The last bit you said sounds official - is this the same as the distance selling act? Just want to have it clear before I quote it to them.