Cancelling extended warranty

Furey

Evening all.

I've bought one of those optional car warranties from Olympic warranties. I thought I was being very clever as (as a mechanical engineer by trade) I could see some problems surfacing on my car which would outweigh the cost of the warranty.

Now as you clever MSE types probably know already, this warranty is worth nothing. I've had a good look through the T's & C's and read so many get outs and broad clauses that I cannot imagine a single thing that could ever go wrong with my car that would ever be covered. It is a scam, for all intents and purposes.

So rather than waste the time of my local mechanic, whom I have a good relationship with, by trying to claim and inevitably failing, I want to cancel my policy. I've gone past the 28 days cool off period, but it says that "there is no facility to cancel the contract outside of the 28 day period". Is that legal? surely if i don't want coverage any more (imagine the car is written off or sold?), I should be able to cancel a policy, as it is effectively insurance?

I really would prefer not to loose all of the £109 this piece of paper cost

smcaul

I think you will struggle to cancel if over their 28 days, unless you can show that you have been mis-sold the policy!

All I will say though is that Olympic are a complete shower of @#$%, I inherited one of their policy's on a car I purchased, one something went wrong they tried every thing they could to get out of paying for it, I just took them court via moneyclaim online and they decided to pay up before the case was heard, that cost them substantially more as well!

If you cant get a refund them be prepared to fight for any claims in court!

KeithP

Of course you can cancel. Just write to them telling them so.

However, bear in mind that you have already been covered for over 28 days.

Short term insurance is disproportionately expensive, so you may not get much, if anything, refunded.

Might just be worth leaving it running and, as smcaul says, be prepared to fight if you need to claim.

Furey

Well I'll have a go at writing to them to cancel then, and post again when they respond. I don't think its worth carrying on with the policy as its just going to be a massive hassle to claim and I don't have the time to drag it to court. Will let you know anyway cheers guys.