Admiral cancellation

HUFCsteve

Looked at short term insurance but costing £200 for a month

MarkyMarkD

Given that I've already told the OP that the cancellation fee is £45, I don't know why 6 subsequent posters have posted comment guessing that cancellation might be really expensive!

maginot

MarkyMarkD wrote: »

Given that I've already told the OP that the cancellation fee is £45, I don't know why 6 subsequent posters have posted comment guessing that cancellation might be really expensive!

Because car insurance is a 12 month contract, the cancellation fee may only be £45, however if you wanted 3-4 months of cover you are not able to just pay 3-4 months of a 12 month contract and £45 on top.

The cost would be closer to 6-7 months of cover with £45 on top. If he made a claim it would then be the full 12 months that would need to be paid.

Posters are just suggesting that he needs to compare the costs of short term cover with yearly cover, cancellation costs and higher risk of not getting a refund on premiums if a claim etc.

HUFCsteve

I take the point that by paying monthly I am spreading the total cost of 12 months cover over a whole year. But if I know that I am likely to cancel within the first couple of months, am I better off paying by MDD? Otherwise if I paid in full, I'd be dependent on the insurers refunding me...

maginot

HUFCsteve wrote: »

I take the point that by paying monthly I am spreading the total cost of 12 months cover over a whole year. But if I know that I am likely to cancel within the first couple of months, am I better off paying by MDD? Otherwise if I paid in full, I'd be dependent on the insurers refunding me...

Yes, you would be reliant on the insurers refunding you, but you would still have to pay the same amount and you yourself owe the insurance company money. I'm sure after they have taken their cut they will refund fairly promptly.

As I said, I don't know what would be cheaper overall for your situation. With my insurer, as soon as I've used 7 months I an liable for the full 12 months. So if I cancelled then, I would pay a cancellation fee and not receive any refund.

sallyanne4

JimDuff wrote: »

Not a refund, I'll be paying monthly. Wondering what they charge to cancel? And they are by FAR the cheapest.

Hi as others suggest you're better gettin a short term policy my son was with Admiral they wrote his car off, didn't pay any thing out and then cancelled his policy now they want him to pay a full years payments for the priveledge that's why they're the cheapest !!

jonnyd281

sallyanne4 wrote: »

Hi as others suggest you're better gettin a short term policy my son was with Admiral they wrote his car off, didn't pay any thing out and then cancelled his policy now they want him to pay a full years payments for the priveledge that's why they're the cheapest !!

Your not in quite the same situation though
https://forums.moneysavingexpert.com/discussion/comment/50623659#Comment_50623659

It appears that your son hit another car.

MarkyMarkD

maginot wrote: »

Because car insurance is a 12 month contract, the cancellation fee may only be £45, however if you wanted 3-4 months of cover you are not able to just pay 3-4 months of a 12 month contract and £45 on top.

The cost would be closer to 6-7 months of cover with £45 on top. If he made a claim it would then be the full 12 months that would need to be paid.

Posters are just suggesting that he needs to compare the costs of short term cover with yearly cover, cancellation costs and higher risk of not getting a refund on premiums if a claim etc.

No, because Admiral's Ts & Cs say that the refund is pro rata, less the £45 charge. As I said.

Tremour-88

I'm with admiral and the smallprint at the bottom says to return all documents and there will be a £45 fee involved providing there has been no claims made.