Cancellation fee within 14 days question

re-rewind

Hopefully one that someone can help me answer here because the T's&C's don't come across very clear to me

Basically I cancelled my insurance policy and took it out with the same company again within a 14 day period because it was substantially cheaper to pay yearly rather than monthly and also when i did a re-quote about a week later, it came out cheaper than it did originally anyway.

Just wasn't 100% if this is saying I can cancel within 14 days without be charged or that I can be charged £55 whether its within 14 days or not?

From the Policy Booklet:

YOUR RIGHT TO CANCEL THE POLICY
If, having examined your policy documentation, you decide not to proceed with the insurance, you
will have 14 days to cancel it, starting on the day you receive the policy documentation. To cancel,
please write to the address or call the number shown on your policy schedule. You must also return
your Certificate of Motor Insurance, and on receipt, we will refund any premiums already paid, except
when you have already made a claim under your policy. If you cancel your policy we may charge an
administration fee of up to £55.

CANCELLATION
• We may cancel this policy if we send you a letter giving you 7 days’ notice, to your last known address.
You must then return the Certificate of Motor Insurance to us. We will refund the appropriate proportion of
your premium, worked out from the date we receive your Certificate of Motor Insurance.
• You may cancel this policy if you return the Certificate of Motor Insurance to us. We will refund the appropriate
proportion of your premium worked out from the date we receive your Certificate of Motor Insurance.
• If you cancel the policy we may charge an administration fee of up to £55, which accounts for our costs in
providing the policy. If this applies to you details will appear in the Important Notes on your policy schedule.

vaio

......If this applies to you details will appear in the Important Notes on your policy schedule.

seems to be the salient phrase, what does your schedule say?

mikey72

"May" charge means you should phone them up, explain you'll still insured with them, but changed from monthly to annual payment, so as you're still such a good loyal customer, you would be really impressed if they cancel the first policy and waive any fee they may be thinking of charging. (Don't mention the second policy was cheaper)