When to cancel cpp

hippyjimbob

Hi, i have just filled out my claim form using your very helpful guide, now I am ready to send it back by post. Can you please tell me when I should cancel my policy with CPP??, the policy has about 15 months to run.

[Deleted User]

Are you sure you have Card Protection Plan (CPP)?

Typically, these policies are ongoing and I can't see how a policy protecting your credit and debit cards etc has "fifteen months to run".

If you do have CPP, you can cancel it anytime. However, it sounds like you are confusing it with some other insurance you may have.

hippyjimbob

yes I am sure, i pay for it once every 3 years, this gives me a discount on the yearly subscription, it is with CPP, and i have sent off my claim form yesterday. In the letter I received from them it says " By now you will have cancelled your policy" so what do I do? ring them up and cancel it then wait for my cheque to arrive. this would mean i loose 15 months of cover.

[Deleted User]

hippyjimbob wrote: »

this would mean i loose 15 months of cover.

If you still want the cover, then why are you demanding a refund of it?
You can only legitimately complain about the insurance if it's no use to you and you are happy for it to be cancelled. You can't have it both ways.

RedFraggle

I read that as they would cancel it automatically if I claimed.

[Deleted User]

RedFraggle wrote: »

I read that as they would cancel it automatically if I claimed.

That is correct.

hippyjimbob

So would the answer to my original question be, "Wait until CPP decide that I have a valid claim and let them cancel it". If on the other hand I do not have a valid claim, then carry on using it until my subscription comes to an end and not renew it. I have claimed on the basis of how it was sold to me.

-taff

you should cancel your policy whenever you like.
If you think it was sold incorrctly and you don't think it's a good idea, cancel straightaway.
If you think it's a great policy, and you want to keep it 'just in case' it's going to pay out, then wait for them to cancel it.

[Deleted User]

hippyjimbob wrote: »

So would the answer to my original question be, "Wait until CPP decide that I have a valid claim and let them cancel it".

No, the answer to your original question is that you can choose to cancel it at any time. Your problem appears to be that you think the insurance is worth having, but still want a refund for all the years you haven't had any cause to claim on it. As I said earlier, you really shouldn't be trying to have it both ways.

How can you complain about the manner the CPP was sold to you? If you continue to believe the insurance is useful then you really shouldn't be complaining about it.

I imagine you will receive a full refund of your insurance premiums over the years (including the advance you paid), but you'll then have to look elsewhere for similar cover.