Insurance - change of vehicle

Aztecsilver

My sister just brought a new car (03 fiesta) and called her insurance company to change the vehicle details. They wanted an extra £21 bringing the monthly cost to £51!! Not being confident with dealing this sort of thing she just went along with it.

Since then she has had a letter to say they want £54 a month. I have looked at the paper work she received and there is no direct debit break down anywhere for the insurance only the quote with the interest and admin fee which worked out at £41 over 12 months.

I have had a little shop around on the comparison websites and the quotes I got back for her ranged from £20-30, even the company she is with quoted £32 a month.

She doesn't have the money to pay it out right so direct debit is her only option, but where does she stand with the situation with her current company, can she still get out of it (had the policy since Tuesday 9th Feb) as they are blatantly ripping her off!!

dunstonh

She doesn't have the money to pay it out right so direct debit is her only option, but where does she stand with the situation with her current company, can she still get out of it (had the policy since Tuesday 9th Feb) as they are blatantly ripping her off!!

They are not blatantly ripping her off. They are just not competitive with her choice of current vehicle.

Can you clarify the situation as its not clear from your post whether this is a new policy (suggested with your last comment) or an existing policy with a vehicle amendment (suggested by your first paragraph).

Aztecsilver

For a brand new policy with them when I looked for a more competitive price they want £32. Yet to amend the existing policy, which she has done, they want £54 a month! Seems extreme to me.

This is an amended policy.

NEH

Was just wondeirng if that was the 9th Feb this year? Was wondering if she had a coolng off period, obviously she would incure cancellation charges...

Aztecsilver

It was this year.
That is what I would like to know, can she cancel? Do they have a cooling off period?
Even with a charge, the quotes I have found would save her £25 a month if not more if she can cancel.

NEH

Aztecsilver wrote: »

It was this year.
That is what I would like to know, can she cancel? Do they have a cooling off period?
Even with a charge, the quotes I have found would save her £25 a month if not more if she can cancel.

If you do a search on here there may be a thread about it.... She hasn't had made any claims in the days she has had it has she?

Aztecsilver

No claim has been made, she only amened the policy 6 days ago.

NEH

Aztecsilver wrote: »

No claim has been made, she only amened the policy 6 days ago.

Ahh i see the amendment has already been done....I don't quite get it you say the policy was taken out on the 9th yet you say she ameded the policy by my calculation on the 8th it doesn't make sense from what you saying she amended the policy before she took it out....?????

Aztecsilver

She had a car, she brought a new car.
She amended her existing policy details to the new car (which started on the Tuesday 9th Feb 2010) when she took ownership of her new car.
The insurance company have increased her payments to £54 a month, when if she took out a new policy they would only charge £32 a month.

Undertandably she is a little bit disappointed with this especially when she can get cover for £20-30 elsewhere.

What I want to know is can she cancel as it has only been less than a week or will she be charged for a large % to do so?

NEH

Aztecsilver wrote: »

She had a car, she brought a new car.
She amended her existing policy details to the new car (which started on the Tuesday 9th Feb 2010) when she took ownership of her new car.
The insurance company have increased her payments to £54 a month, when if she took out a new policy they would only charge £32 a month.

Undertandably she is a little bit disappointed with this especially when she can get cover for £20-30 elsewhere.

What I want to know is can she cancel as it has only been less than a week or will she be charged for a large % to do so?

She can cancel but as it's an existing policy she won't get much money back. A policy doesn't become new just because of a change of car.

lisyloo

Get the fees for cancellation.
There will almost certainly be some admin fees and some charges for insurance already used, but if they really are charging so much, it may still be cheaper to cancel.

If the fees and charges are in line with guidelines and what her policy says (which she was provided up front to read) then there is nothing she can do.
It's just a case of working out which is cheapest.

If it really is very uncompetitive then she would probably be best off cancelling, but she should not expect that to be free.
People have done work becasue of her changin her car and they don't work for free.