Car Insurance Cancellation Fees

jaisab

Hi, would like a few opinions regarding the cancellation of my car insurance policy. Before I sold my car a few weeks ago I contacted my insurance company (sheilas wheels) regarding a new car quote, cancellation fees,admin fees etc.Quote received was double my current policy of £350.00. I asked how much it was to cancel my current policy, quoted £55 cancellation charges and £26.50 charges from the credit agreement, minus the payments made already (I pay by Direct Debit) came to -£18.59 . Told the adviser I would get back to them if/when I decided to buy my new car.
Compared new policy quotes at comparison sites, came in £250 cheaper. I then rang sheila’s wheels to cancel my old policy, paid the -£18.59 a few days later.

Out of the blue today I have received a bill for £227.05 from ‘ Close Premium Finance ‘ due to cancellation charges. After trawling the net, have realized that I took out a loan for the insurance with ‘ Close Premium Finance ‘ through sheilas wheels and after reading there T&C,it states “If you validly withdraw, the credit agreement is treated as if it was never entered into and you must repay the amount of credit within 30 days beginning with the day after the day you notified ‘Close Premium Finance’ of your intention to withdraw”.

I realize I owe the amount, my mistake and will never happen again but my issue is with the original Sheilas Wheels advisor who gave me incorrect advice, obviously i would never have cancelled my policy if I had known about the cancellation charges imposed by the credit finance company. Do you think I have a case for a complaint, fee reduction etc ?
I personally think they will say it was my own fault, I should of read the T&C's,the sheilas wheels advisor is not an employee of ‘ Close Premium Finance ‘ therefore I should have checked with ‘ Close Premium Finance ‘ myself.
Any advice before i pay the balance off would be appreciated.

Thanks in Advance

Quentin

jaisab wrote: »

........I realize I owe the amount, my mistake and will never happen again.......

In that case, you know the answer on whether or not you need to pay it.

(Though if you were not asked to agree those ts +cs when originally applying for the policy/credit and this is the first you knew about them you may have an argument to go on with the finance company!)

jaisab

Quentin wrote: »

Though if you were not asked to agree those ts +cs when originally applying for the policy/credit

T&C's where posted along with the finance arrangement and two credit forms ,i should of signed one and returned but i never did,my own silly fault for not reading through and checking

jaisab

Does anybody have any opinions / experience with 'Close Premium Finance' ?