Change of car on policy rip off??

joepaul

Hi every one. I am in my first year with my current car insurance. As you may know in the first year you pay off the full year in 10 months. I have 3 more payments left. I changed my car and called the insurance (octagon) and they said the new car is approx £150 a year dearer. they said they will spread that amount over my last 3 payments plus the £20 admin fee for pushing a few buttons making my insurance go from £39.55 to over £80 for the last 3 payments!! I accept that it may be dearer over the year, and i would expect to pay the difference for the last 3 payments, but why am i being made to pay for the full years policy when in this years contract i will of only had the car for 3 months of it? Thanks.

InsideInsurance

The payment split is somewhat irrelevant, that is for your convenience.

How many months left of cover do you have?

Are you sure they said its £150 extra for the year and not £150 for the remainder of the year?

Most quote engines would simply tell them what the extra is for the remainder of the year and not an annualised number so could be that you miss heard them

If it is annual increase and you've 4 months left then you'd expect to pay 1/3 of it + Admin fees + Interest for paying by instalments

joepaul

InsideInsurance wrote: »

The payment split is somewhat irrelevant, that is for your convenience.

How many months left of cover do you have?

Are you sure they said its £150 extra for the year and not £150 for the remainder of the year?

Most quote engines would simply tell them what the extra is for the remainder of the year and not an annualised number so could be that you miss heard them

If it is annual increase and you've 4 months left then you'd expect to pay 1/3 of it + Admin fees + Interest for paying by instalments

yes you are correct. I must of misheard them.still not happy having to pay £25 admin fee just for them to press a few buttons and click save. Lol

InsideInsurance

joepaul wrote: »

yes you are correct. I must of misheard them.still not happy having to pay £25 admin fee just for them to press a few buttons and click save. Lol

Then chose an insurer who charges more up front but no admin charges.

As insurers race to the top of the aggregators price lists they are cutting cover and services that all used to be free/ built in and then adding some back in as a cost. Customers will leave an ethical brand for an unknown one to save less than £5 a year so insurers are struggling to sell on anything but price.

dunstonh

still not happy having to pay £25 admin fee just for them to press a few buttons and click save.

Is that really what you think all that happens?

Those computers they use must be free then as will the electric and the offices they work in and the staff that work there along with the actuaries, compliance etc.

Whilst the transaction may be quick, the resources in place to allow that transaction to be quick have costs.

chanz4

I had £50 to cancel contents insurance via the aa thats a rip off