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Verbal agreement on home insurance
Spikelad
Posts: 21 Forumite
I am due to renew my home insurance on 2nd March,i did a search on the internet and got a decent quote from a well established company.
I then phoned my present insurance firm and asked them if they could match the price i had been quoted.They said they could not match it but to keep me as a customer they would reduce this year's premium so that the difference in price was only 10 Pounds,i said that was fine and i would be happy to accept this quote,so far so good.
However i have just received my renewal form today and what i have noticed is that my total payment will be over 40 Pounds dearer,i pay by monthly direct debit and there are charges for paying this way which inflates the price.
As i agreed verbally to accept this quote am i legally bound to pay,i have not signed any paperwork and would like to cancel.
I then phoned my present insurance firm and asked them if they could match the price i had been quoted.They said they could not match it but to keep me as a customer they would reduce this year's premium so that the difference in price was only 10 Pounds,i said that was fine and i would be happy to accept this quote,so far so good.
However i have just received my renewal form today and what i have noticed is that my total payment will be over 40 Pounds dearer,i pay by monthly direct debit and there are charges for paying this way which inflates the price.
As i agreed verbally to accept this quote am i legally bound to pay,i have not signed any paperwork and would like to cancel.
0
Comments
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The policy will have a cooling off period during which you can cancel - so just exercise your cancellation rights.0
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Thank you for your reply,i thought i would be ok but i was not sure.0
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