cancellation of car insurance £180 !!!!

mikey72

Quote wrote: »

I don't remember saying people should pay regardless. I just remember saying that the cheapest insurance can end up costing you money. How many complaints are there on this forum from people who have shopped around and settled for the cheapest insurance they can find?

Less than those complaining they've been ripped off?

Quote

One has nothing to do with the other. The same people would complain about being "ripped off" as would complain about shoddy service when, by their own admission, they've settled for the cheapest insurance they can find.

I don't spend hours shopping around for car insurance, and I'm perfectly happy with my car insurance.

Who is being ripped off?

Spamfilter

Hmm I just cancelled with Santander Car Insurance, I was hit for £42 as a cancellation charge - this was in my t&c so cant complain really, but wasnt expecting a 5 % insurance tax to also be taken. I guess its worth reading the small print in detail when it comes to signing up. Santander was about £40 less than its nearest competitor on the insurance compare site.. But of cause when taking into account they charged £25 admin fee just to change my home address recently, plus the £42 to cancel the policy and this tax thingy, I was clearly better off elsewhere. I, much like most, just saw the cheap price and cracked on! Its always the way, you dont get nothing for nothing.

I did say to the "customer retention dept" when cancelling that I would think twice about using them in the future and the girl laughed! Saying yeahhh that fee, it is alot innit. Well, yes love, it is! :O)

Not complaining, just reminding myself and others who stumble on this thread to leave through the terms in detail before buying... thats why they give you 14 days to cancel without cost.

newbie007_2

Spamfilter wrote: »

:O) Not complaining, just reminding myself and others who stumble on this thread to leave through the terms in detail before buying... thats why they give you 14 days to cancel without cost.

If I am correct you will still get charge if the policy already commence, just dont get charge cancellation fee. I suspect the majority of insurers charge a set fee for change of details anyway i.e address and + - the difference in postcode.

glider3560

newbie007 wrote: »

If I am correct you will still get charge if the policy already commence, just dont get charge cancellation fee

Most have a minimum premium for the 14 day period which may be considerably more than 14/365 of the policy cost (plus insurance premium tax).

swangirl12

All I can say is read the small print before you take the policy. I got a fantastic policy from Budget Car Insurance, but didn't read the cancellation charge part. I have just sold my car (within 3 months of taking the policy) and am not replacing it, so cannot transfer the insurance which would have cost me £30. Instead I have had to pay a) for the insurance cover I've used, which is understandable b) a cancellation charge of £75, yes £75 PLUS c) An unbelievable 60% of the total policy cost on top of that - my grand refund after 3 months of cover is £35 !!! It's all in the policy documents so I should have read them before taking the insurance (actually I didn't receive them until AFTER I had taken the insurance). As I have never experienced these kinds of cancellation charges, it was one part of the document I did not think I needed to scrutinize. At least it makes the charges most of you have been asked to pay look quite reasonable - my total charges are more than £230 !!! As I paid it up front, at least I haven't got to find the money to pay it. So if you think you might be cancelling your policy, do not select Budget or others like them. If not, go ahead, they were certainly one of the cheapest for actual cover, but now I know why !!!

olly300

All you complaining about cancellation charges should be aware that the regulators rule these as fair charges.

Why should customers who don't have to alter their policies pay for those who do?

When I was in a period where I knew where I had to alter my policy 3 times in one year due to moving, I looked at the administration charges for each insurer before taking out a policy and then took the 3rd cheapest due to having much lower admin charges then the 2 cheapest. (£0 for each move with money back for one then £25 to increase the mileage limit compared to £15-25 for each move and to increase mileage.)

So those of you who know you are likely to move house, likely to change car, have a car on it's last legs or are simply having money problems so may have to get rid of the car, have a look at your lowest 4 quotes admin charges before taking out the policy. Then decide what policy to take out based on that.

vaio

swangirl12 wrote: »

.....Instead I have had to pay a) for the insurance cover I've used, which is understandable b) a cancellation charge of £75, yes £75 PLUS c) An unbelievable 60% of the total policy cost on top of that - my grand refund after 3 months of cover is £35 !!! It's all in the policy documents so I should have read them before taking the insurance (actually I didn't receive them until AFTER I had taken the insurance).......

There are set up costs associated with a policy (but given online policies I doubt they amount to much) but it's still reasonable that using 25% of the cover will cost more than 25% of the premium but you seem to be saying that 25% of the cover is costing you 85% of the premium plus a £75 cancellation fee which I'd have said is bordering on not reasonable.

I also thought that the FOS view was that cancellation fees in excess of £50 were unreasonable, might be worth giving them ring?

newbie007_2

vaio wrote: »

There are set up costs associated with a policy (but given online policies I doubt they amount to much) but it's still resonble tht using 25% of the cover will cost more thn 25% of the premium but you seem to be sying tht 25% of the cover is costing you 85% of teh premium plus a £75 cncelltion fee which I'd hve sid is not resonble. I lso thought tht the FOS view ws tht cncelltion costs in excess of £50 were unreasonble

Your wireless keyboard running out of battery?

vaio

Nope, my "a" key doesn't work so type, post then edit and spell check (hoping that some smart ar se doesn't quote me in the mean time )