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Can anybody explain premium return on cancelled car insurance ???
michael07seles
Posts: 1 Newbie
Hello
I am trying to amend or cancel my insurance policy. I took it out for june 2009 to june 2010 on an old audi for £900 with E-car insurance( Ipayed full amount june 2009). I am looking to edit policy to a new fiesta instead of the audi.
If I change the car details to a new fiesta the premium says -£777.
If I cancel the policy the premium says £-329.
My question is... does -£329 mean I will recieve a check for £329??, or does it mean I owe the insurance company £300. Same for -£777 premium?
I am so so confused, why would I have to pay them £329 if i cancel because the policy has 6 months left? And if thats not the case why if I change to a more expensive car would they return £777 to me?
(Btw cancellation fee is £75)
Any kind of help or explanation of any of this would be EXTREMELY appreciated
Thankyou
Michael
I am trying to amend or cancel my insurance policy. I took it out for june 2009 to june 2010 on an old audi for £900 with E-car insurance( Ipayed full amount june 2009). I am looking to edit policy to a new fiesta instead of the audi.
If I change the car details to a new fiesta the premium says -£777.
If I cancel the policy the premium says £-329.
My question is... does -£329 mean I will recieve a check for £329??, or does it mean I owe the insurance company £300. Same for -£777 premium?
I am so so confused, why would I have to pay them £329 if i cancel because the policy has 6 months left? And if thats not the case why if I change to a more expensive car would they return £777 to me?
(Btw cancellation fee is £75)
Any kind of help or explanation of any of this would be EXTREMELY appreciated
Thankyou
Michael
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