Car insurance

Risinfromthegutter

If I cancelled my car insurance on the 1st September 2011; the policy running from 25th July 2011 for the year, and the cancellation charge was £48 plus a proportion for the days used, how much should I expect to be refunded on a policy costing £308 approx?

Your help would be hugely appreciated.

mikey72

Even if they try it on, and claim 2 months at £25 a month, at least £208 back. Best would be a true pro rata, up to a bit less than £230.

The FOS have already made a ruling on this.

http://www.financial-ombudsman.org.uk/publications/ombudsman-news/54/insurance.htm

I'd probably be happy with anything from £200 upwards before making a complaint though.

Risinfromthegutter

Thanks for your reply...

...the refund I received was just under £150!

I had asked that they would waive the admin charge as they had been unable to provide a quote for the new car too!

I guess the first port of call would be to ring them and ask if they've made a mistake?

mikey72

Risinfromthegutter wrote: »

Thanks for your reply...

...the refund I received was just under £150!

I had asked that they would waive the admin charge as they had been unable to provide a quote for the new car too!

I guess the first port of call would be to ring them and ask if they've made a mistake?

Who's the insurer.

Normally, they do tend to be more helpful and waive the fees if they can't provide insurance for a change of car, as they are causing the need to cancel, not you. I'd would be hoping for about £100 more, and take it from there. Some are better than others though, and the FOS is free at the end of the day.

Risinfromthegutter

mikey72 wrote: »

Who's the insurer.

Normally, they do tend to be more helpful and waive the fees if they can't provide insurance for a change of car, as they are causing the need to cancel, not you. I'd would be hoping for about £100 more, and take it from there. Some are better than others though, and the FOS is free at the end of the day.

The insurer is Bedford Insurance (Motor Quote Direct). I'll see how I get on; thanks for your input. I'd didn't want to go in all guns blazing if the amount refunded was the 'norm'. I was expecting between £240 and £220 depending on whether they were going to use the cancellation as outlined in the terms or the conflicting cancellation method given over the phone!

I had a feeling it was not going to be straight forward!

Plus I had borrowed the money for the new insurance policy from a family member hoping to pay them back when the refund came through, now its not enough!!

mikey72

Risinfromthegutter wrote: »

The insurer is Bedford Insurance (Motor Quote Direct). I'll see how I get on; thanks for your input. I'd didn't want to go in all guns blazing if the amount refunded was the 'norm'. I was expecting between £240 and £220 depending on whether they were going to use the cancellation as outlined in the terms or the conflicting cancellation method given over the phone!

I had a feeling it was not going to be straight forward!

Plus I had borrowed the money for the new insurance policy from a family member hoping to pay them back when the refund came through, now its not enough!!

They have some dubious fees in their t&c's, they may not bear up to close scrutiny by the FOS.
I write a formal complaint to the insurer, if they reject it, refer it to the FOS as a complaint.