Churchill Car Insurance wont let me pay them!!!!

stamina9008

I have an outstanding of £958.27 to be paid in installments over the next 10 months, but, i rang and asked if i could give them £400 today and £400 next monday...they said no...
I asked them last week and will ring them again today(but it takes ages to get through to an advisor), and i've forgotten the exact reason as to why they dont accept this, but i think she said it was policy or something similar.
I want to give them the money so that i dont spend it on something else and so that i dont have to worry about the monthly installments too much.
Why do you guys think some insurance companies dont accept this?
They could take my 800 leaving 158.27 and just require me to pay the 158.27 as a final payment next month under my installment plan and then cancel the direct debit because the insurance would have been paid completely.
What insurance company declines money?? LOL

forgotmyname

The installments were a loan, Possibly from a 3rd party (premium credit is common)

So the insurers may have already been paid the full price. Its the loan company you may want to contact.

Check your paperwork, maybe contact them directly.

Nothing surprises me with insurance companies, I can add 2 drivers to my policy mum and sister, And despite them having made claims fairly recently and i have not. The policy is actually cheaper adding them as named drivers.

vax2002

They wont let you from over the barrel, they make too much money out of people defaulting.
Insurance is becoming a secondary product for these companies with it just been a vehicle for them to get in on the money lending and financial penalties game .

InsideInsurance

Unless it has changed recently Churchill self finances the option for installments rather than using a credit house.

The much more likely reason is that their systems are simply not set up for handling over payments. They are ultimately an insurer not a loan company and so whilst they can deal with 12 monthly installments, calculating the APR etc they may not be able to handle people wanting to early settle or make an over payment for two months and then recalculate the rest of the loan etc.

If you are concerned about spending the money then open up a new free current account without a bank card etc. Stick the money in their and change the DD with Churchill to the new account.