Sureterm insurance

Spider08

Took out a classic car insurance policy with Sureterm direct. Good premium so a good deal.
However, sold car and now looking to cancel policy. Have had policy for only 6 months so expecting a few quid back.
Surprise with charges loaded and termination costs I have had nothing returned.
please read policies in full and do not fall into the trap I fell in!!!

yours unhappy:(

vaio

Spider08 wrote: »

.....please read policies in full......

always good advice

raskazz

Spider08 wrote: »

Took out a classic car insurance policy with Sureterm direct. Good premium so a good deal.
However, sold car and now looking to cancel policy. Have had policy for only 6 months so expecting a few quid back.
Surprise with charges loaded and termination costs I have had nothing returned.
please read policies in full and do not fall into the trap I fell in!!!

yours unhappy:(

Classic car policies generally have cancellation terms which are harsher than private car policies for 2 reasons:

(i) Classic car insurance is a seasonal business (cars overwhelmingly used between March/April to September/October) and are also usually mileage rated. The cancellation terms will be designed to prevent customers from buying a policy in March, using up their full annual mileage allowance, then cancelling in September and getting a refund.

(ii) Classic car insurance is generally much cheaper than standard private car due to the cherished nature of the vehicles and the limited use. However, the broker/insurer's fixed costs in setting up the policy are essentially the same - hence the classic car policy will generally have either a higher fixed cancellation fee or harsher short-period rates.

As you would find pretty similar terms across the whole classic car insurnace market there's no real reason for you to feel particularly aggreived.