1st Central - Canceling Car insurance

rizel23

I took out a policy with them in early August as they were the cheapest at the time (before reading the forums )

I chose to pay via monthly instalments, it was 2 months policy as a deposit and 10 monthly instalments.

I'm now changing my car and the quote they have given me is 300 more than cheapest else where, so obviously need to cancel.

Before i ring them up i want to get my position clear and know how i stand.

I have just looked at all my details and never signed or posted off the the credit agreement for the credit, simply forgot.

On the policy it says they charge a cancellation fee (fair enough) but does anyone how i go about cancelling the policy with with paying by monthly instalments and any addition cost?

thanks

Hammyman

So if you've not sent off the credit agreement, how are you paying? If you've not been, you may find your policy is cancelled once the two months you've paid for expires.

Where you stand depends on the company. Some of the nastier ones state you took out a 12 month loan so the loan is still payable regardless of whether you cancel or not. However you'll probably find they'll just charge the fee. You'll not accrue any NCB other than what you had on your renewal in August.

rizel23

The payments are taken by 3rd Party, so was\is like a credit agreement, i just forgot to post of my part of the signed agreement for the credit, they have and still do take the monthly payment.

I just wondered if anyone had first hand experience with dealing with similar with this company as scans of various forums suggested they are not the best to deal with

Hammyman

Without a signed agreement, the credit agreement is basically unenforceable.

rizel23

Hammyman wrote: »

Without a signed agreement, the credit agreement is basically unenforceable.

Yep ;-)

I agreed on-line to the terms & conditions of the insurance, but the credit was applied for on my behalf through 1st Central i think