Car insurance -cancelling after 6 days

lid8701

Hi all
I have taken out car insurance online with Igo4 insurance. I stated that I had 1 years NBC but have now found out that's its not valid. I earned this 1 years NBC from March 2010 to March 2011, and since then have not had my own insurance, I've only been a named driver for the past 2 years. I didn't realise this at the time until my dad explained to me why it was no longer valid.

When i took out he insutance on28th june i paid a deposit of just over £600.00, 10 monthly payments of £249.00. Of course due to no ncb now, this has now caused my insurance to go from 3000 to over 4000, which I cannot afford to pay.

Can I cancel my insurance and will I be refunded my deposit in full?

I've looked on google and saw something about a 14 day cooling off period?

Please help! I don't want to look like an idiot when I ring up!

Many thanks

Lydia

align700

You should have a cooling off period check terms and conditions on tthere Web site

TSx

You will be able to cancel - as you are within the 14 day period, they should only be charging you an administration fee (igo4 charge £75) and a charge for time on cover - the insurance you have had the benefit of (another £50 or so based on a £3k a year premium).

rudekid48

TSx wrote: »

You will be able to cancel - as you are within the 14 day period, they should only be charging you an administration fee (igo4 charge £75) and a charge for time on cover - the insurance you have had the benefit of (another £50 or so based on a £3k a year premium).

Any time on risk charge would be based on the higher figure with no NCB not the original 3k

lid8701

Thank you all for your replies it's much appreciated. Just one last question, do you think I should tell them that I am cancelling because my NBC is invalid, or just tell them I'm cancelling due to change in circumstances?

Many thanks

Lydia

Quentin

You don't need to give a reason.

If they push for one in the hope of keeping you just tell them it's due to a change of circumstances.

Filip

If you get new insurance axa will accept ncb up to 3 years old through certain brokers, I think co-op also do

dianafox789

So now next time when you take the insurance please check all the terms and condition of the insurance policy.

lid8701

'If you get new insurance axa will accept ncb up to 3 years old through certain brokers, I think co-op also do'

are you sure my ncb would still be valid for this? I haven't had my own insurance for 2 years, so it looks like i've lost my NCB completely.

Thanks

Lydia

Filip

lid8701 wrote: »

'If you get new insurance axa will accept ncb up to 3 years old through certain brokers, I think co-op also do'

are you sure my ncb would still be valid for this? I haven't had my own insurance for 2 years, so it looks like i've lost my NCB completely.

Thanks

Lydia

Just ring them for a quote and tell them your ncb is over 2 years old but under 3. Like I said, co-op do it, also my brother went through swinton earlier this year and they quoted him through axa who accepted his ncb that was over 2 years old but under 3.

asharon

Once insurance has started there isn't a cooling off period where you get everything back. Maybe with some who knows. But once the policy has started you are covered driving the car for that period and cancelling it is not backdating it. It is then allowed for them to charge a reasonable admin fee so it wont be free.