Car Insurance 'Get Out' fine print

starks

Hi,
Do you know of any Car Insurance Companies who dont demand part percentage payment for remaining months if you were to sell the car before the Insurance year is complete; and specifically those companies where youre paying on a per month basis. I have heard some companies have this part payment buried in the Terms and Conditions BUT ONLY notified when you get the policy documents through!. I heard RAC were ok on this but some companies still want part payment for remaining months even though theyre charging 20%+ interest for ther monthly payment facilty. Pleased for any advice on other companies who are flexible on this as a lot of people use monthly payment facility but dont always sell their car at the exact time which tallies with the end of the current Insuarance period!.
Thanks

dacouch

Have a look at this thread

http://forums.moneysavingexpert.com/showthread.html?t=893319&highlight=cancellation

Quote

Most companies will charge you for cancelling a policy.
Some companies offer interest free instalments.
Insurers like annual policies, it's mainly how their statistics are calculated.
Are you selling your car?
Google "temporary car insurance".
Other stuff.

ALIBOBSY

If you move the policy onto your new vehicle it isn't usually an issue?

ali x

starks

Does anyone know what Hastings Direct cancellation policy is?.. they seem cheapest quote but dont have cancel details.

dacouch

Look under their Terms and Conditions which will detail any charges

starks

nothing on their site within T&C's; I checked earlier.

zkw29

starks wrote: »

nothing on their site within T&C's; I checked earlier.

Go to hastingsdirect.com.
Click: Car insurance - get a quote.
Click: "Terms of business".

In short: cancellation charge £45 (reduced to £20 if within 14 day cooling off period).

Quote

dacouch wrote: »

Have a look at this thread

http://forums.moneysavingexpert.com/showthread.html?t=893319&highlight=cancellation

That information is on the first post of this thread ^^^

People are morans.

starks

can assure you im not a moron..
the cancellation of 45 pounds is if you have paid in full and not monthly charge based; thus my comment about monthly related in my first thread ;-)

zkw29

starks wrote: »

the cancellation of 45 pounds is if you have paid in full and not monthly charge based

Where does it say that? That is the cancellation rate if you want to cancel the policy mid term. It doesn't matter whether you are paying monthly or not. If you are paying monthly they will calculate the pro rata premium and add £45 to that. If you have paid more than what is owed you are due a refund, if you have paid less than what is owed you will need to pay the outstanding balance.