Insurance Cancelation fees

jonniek

Hi

I am looking for some help in regards to the admin fees that insurance companies charge you for cancelling your car insurance policy.

I cancelled my policy around a week after i started it and I hadn't even sent the signed forms back to the insurance company.
I paid the policy in full. Once i called to cancel the policy i was told about an admin fee and also some charges for th eweeks insurance.
In total th epolicy was £180, they only refunded £100 of the £180.
They basically charged me £80 for 1 weeks insurance. (I wonder if i tried to claim within the week and before returning the signed forms if they would have paid out?)

Basically I want to know if there is anyway I can get more money back from these robbing insurance companies.

Thanks
Jon

FlameCloud

The FOS considers up to £50 for Admin charges acceptable, and then insurers will refund the premium according to their usual guidelines- i.e. not pro rata.

Have you asked for a breakdown?

I would also contact the police, as the word robbery implies that they used violence (or the the threat of violence) to deprive you of property. Or I take it you are exagerating and just havent read the policy properly?

jonniek

er no they came round here with baseball bats and guns to demand the money.....

In my eyes it is robery......if you have nothing better to do then please feel free to go and play with some traffic!

I was asking for some help not a sacastic comment!!!

tinkerbell84

Alternatively, OP, you can use the handy search function on this site and see the many answers that have been given when this question has been asked many hundred times before

FlameCloud

The first bit is helpful if you actually bothered to read it.

The fact is, you are saying it is something that it isnt. Given that you cannot grasp the difference in contract law and a crime there is little hope you will understand why you are being charged.

jonniek

I don't spend my life on this site so wasn't aware that this had been asked hundreds of times before......

Also FlameCloud I am allowed my opinion, so if I wish to state it as robbery then I will. Didn't think peole where that Sad to take every sentence so seriously. Next time I will use no light hearted comments because I don't want individuals like yourself replying to my posts.

FlameCloud

Sounds good to me!

Its not my (or other posters) fault that you are not educated enough to be able to see what Robbery actually is, and that charging you money to break a contract is in no way related to this.

jonniek

I was under the impression that you had a period of grace to cancel the contract...Bored of this now!

FlameCloud

You do, but the insurers are still allowed to charge for time on cover and expenses in setting the policy up. These would have been detailed in the policy docs you clearly read before buying

dunstonh

I was under the impression that you had a period of grace to cancel the contract...Bored of this now!

Not on renewals but on new business. However, that does not remove your commitment to pay.

The FSA has no issues with providers and brokers making a smaller charge to cover costs incurred. Hence why the FOS normally reject complaints if the fee is under £50 and its mentioned in their documentation.

The fact you didnt read the documentation is not the fault of the insurer and it is not robbery when its your own fault.