only change insurer when policy ends!!!!

johnnyr59

Hi

I am sure that everyone reading this will be more sussed than me however I still feel I need to tell someone.

I bought another car, trade in deal, and so looked around to see if anyone could beat my direct line policy. Direct line was saying I could continue my policy with another 60 pounds on top for the change of car. Esure came up with a deal that had a lower excess a better breakdown cover and was 70 pounds cheaper. So I signed up, bought it and THEN phoned to cancel my old policy. Well cut it short. with the penalties. (not penalties! I was told by the direct line supervisor on the phone.) I was actually 80 pounds worse off! (25% of the premium) On principle I kept going with esure. So my only point. (again I am sure you money folk all know this) Is do not change your car insurance until it is up for renewal. forget comparison sites and the like excepting before the annual renewal date. Diarise these things and save your hard earned. Otherwise forget it.

Cheers

JR

stugib

johnnyr59 wrote: »

On principle I kept going with esure.

Most odd....

cajef

johnnyr59 wrote: »

Hi


pounds cheaper. So I signed up, bought it and THEN phoned to cancel my old policy. Well cut it short. with the penalties. (not penalties! I was told by the direct line supervisor on the phone.) I was actually 80 pounds worse off! (25% of the premium)

The moral of the story is you should have read the terms and conditions before taking out a new policy with a different company, all insurance companies charge for cancellation it is a standard procedure.

dacouch

If you take the time to read the policy documents / terms and conditions for the TWELVE MONTH CONTRACT you took out with Direct Line you have been aware of the cancellation penalty.

If you have taken the time to read the Policy and Terms and Conditions of the Esure Policy you will also find they as do most Insurers have penalties if you cancel a policy.

If you had got your quote over the phone from Esure it would have been sensible for the person at Esure to have advised you that cancelling your Direct Line policy in favour of theirs would incurr cancellation costs. They must have been aware of your situation and if not cannot have asked you may questions. It does not take me long to work out if a customer is mid term with their current Insurer and I always advise them to look into what the cancellation costs are, otherwise you get an unhappy customer who comes back and complains and often wants to cancel the new policy, so its good practice to point out they should check tehir cancellation penalties

dunstonh

do not change your car insurance until it is up for renewal.

That is correct. Brokers have waited until renewal for years. Indeed, I seem to recall it was back in the 90s when something came back in then which was an agreement not to market for cases mid term.

Of course, if you bypass the broker and DIY then it is your responsibility to know what you are doing and what you are buying.

Quote

stugib wrote: »

Most odd....

Having principles or going with ESure?