Advice needed....car insurance cancellation /refunded premium

loeeza

Hi,

Well three months ago we rewnewed car insurance with e-car and paid £998.90.
We then cancelled the insurance policy within the cooling off period as we found much better quote else where.

They have refunded us only £513.58. In other words they have charged us £475.32 for cancelling within 14 days.

I am aware that £75 is admin costs...but what about the four hundred.

What shall I do?

ARGHHH...... Advice appreciated.

Thanks

StephenMarsh

You need to have a look at the policy booklet and see the cancellation scales involved a lot of insurers start at around 70% refund (less cancellation fee) for cancelling within the first month, it will all be in your policy.

loeeza

This is what is says , but i still dont get it ....



Cancelling Your Policy.
On cancellation of your annual policy and when we receive your certificate of insurance you will be entitled to a refund on a pro rata basis for the period of insurance still remaining subject to you not having made a claim or a claim having been made against you during the period of cover. This will be less a cancellation charge of £75.You must return your certificate to us within 21 days of cancellation or no refund will be allowed.

Quentin

If you have any extras (eg breakdown cover/uninsured loss recovery etc) then they usually are treated separately and can't be refunded.

Regarding the insurance premium, write and ask them to itemise the cancellation charge, then take it from there.