Cancelling within cooling off

maddipops

I have taken out a policy for a car I was going to buy, however the sale fell through and I cancelled within 14 days.

The company is co-operative insurance.

I have been advised that there is a £20 cancellation fee, which I dont mind paying, but I paid a deposit of £44.01 so they still owe me £24.01, they wont release this money till they have the insurance certificate back.

I havent got it, it never arrived. They said they were going to send out a disclaimer for me to sign and once that's returned I will get a refund - fair enough.

My question is - why do they need it back if the policy is cancelled anyway? it's worthless - and if anyone did use it the police would check and see that it's not valid anyway.

My mate said who works in insurance - if there is a certificate of insurance out there somewhere then that means if an uninsured driver crashes the car the MIB will pursue that insurer as they have a 'financial interest' in the car?

Seems strange to me, however the insurance company are certainly desperate to have the certificate back, which I dont have. They are making me sign a disclaimer!!

Quentin

A proper certificate is of "value" even if the policy behind it has been cancelled (eg you could use it during its duration to "legalise" the car by buying a tax disc at a post office)

maddipops

no point in taxing it if there's no insurance on it, as if you get pulled over you're still going to get done for having no insurance?

Unless you used it as a third party driver if you have fully comp on another car with the right to drive other cars third party?

Quentin

I just gave you one example of why they want the cert back - (a car does have to have tax whilst being driven on the road, but doesn't have to be insured in its own right).

And there are other uses a proper certificate can be put to, I'm sure you can work that out yourself.

Bottom line is they won't give you your refund till they either get the cert back or you sign them their disclaimer.