Motor Insurance cancellation fee

dunstonh

twhatmough wrote: »

I did cancel the policy and got a good deal from Sheila's Wheels, but they still want to charge me £75.00. If they are meant to be brokers, why couldn't they find me a decent price?

Price is only one consideration and brokers are not there to give you best price on the market.

Each week you see adverts on TV telling you that Asda are cheaper than Tesco on x number of items. Tesco run an advert telling you that they are cheaper than Asda on x number of items that same week. One is never going to be cheaper than the other on everything. Same with insurance.

vaio

I thought that traditionally brokers were there to look at the market & the clients needs and source the best deal which, as you say, isn't just related to price but obviously does include it to a greater or lesser depending where the client puts it in their list of needs.

Without knowing what SW & the rest of the market were offering we can't really comment on the quality of the broker and their £2.5k offering.

Having said that, £300 to £2.5k does smack of the current insurer business model of "cheap to snare the punter and then screw them on changes & renewals" .