Car Insurance - company wants full years payment for a car that no longer exists!

RichardD1970

Paying for your insurance in monthly instalments is just having it on finance.

It is the same as if you had a loan for the amount or used a credit card. You still have to pay off your debt regardless of what happens to the car. You wouldn't expect the CC or loan company to say don't bother paying, would you?

You might get some rebate if you cancel the policy but that will depend on lots of different things

AndyPK

As I understood it. If you made a claim you have to pay the 12 months.
If you cancel it you don't but their will be some charges you have to pay.

forgotmyname

Is an incident a claim? I guess someone could try a claim later on?

Damage to someone's property?

vaio

Torry_Quine wrote: »

Even when paying monthly it's an annual policy and so yes the whole amount is due. Why didn't he claim?

Nah, whatever the method of paying if you cancel mid term having made no claims then you should get a *broadly* pro rata refund on premium.

There might (will) be a cancellation fee and maybe some costs associated with unwinding any finance agreement but they should be relatively small compared to a £2k premium