Canceling M&S policy

hummmming

My Wife has just got a new car we changed her old 106 insured with M&S and got a newish Micra which we got a quote to insure for £25 a moth with a different insurer.

We had a claim for a new 106 windscreen one month into the old policy (march).

When we go and cancel the insurance with M&S they tell us we owe the balance on the insurance £240 for the next 8 months.

Asking them to insure the Micra planning to cancel the new policy in the grace period but have been quoted £56 a month over £30 a month more than the best quote with a very large excess.
If we go to the M&S website they quote online £37 for the micra on the phone we are told that is for new customers only

Are we stuck here?
Do we have to pay the £240 + a 25 cancelation fee.

Very cross over this situation is there any other course of action we can take

Thanks in advance:mad:

dacouch

Yes you are.

Virtually every single Insurer will not allow a refund (If you paid in full up front) or will require the balance of the premiums to be paid (If your paying over instalments) if you cancel and have made a claim in that period of Insurance.

The only way around it is to reimberse the Insurer for the Windscreen Claim although if you have used Autoglass who are most Insurers preffered supplier then you will be amazed at how expensive the replacement glass was. You could ring them up and ask how much the windscreen claim was and weigh up the options.

Your new Insurer will almost certainly have the same rules if you try and cancel their policy

FH_Brit

You purchased the policy as a year, not by the month you just spread the cost.

Simplified example

You buy a bag of chips for £1.20 but you cannot affor it so the Chippy allows you to pay monthly (10p) but you go back the next day and say you are not paying because you have not got the chips anymore - coz you ate them last night - you still had your chips and need to pay - same as you bought 12 months coverage not 1 month at a time.