Car insurance cancellation fees

Trick

Never had to do this before but don't think I ever will again either .

I have a second car that I insure on a separate policy to my main car. I am in the process of selling it. It's taken longer than I expected to sell. Anyway insurance ran out on 11th may so I renewed it.

Managed to sell the car now and so I would see how much I a refund I get back. I was told 75% when I enquired on renewing.

It seems I get less than 50%. A meagre 40% for 2 and a half weeks insurance. That's an absolute disgrace.

The reason it wasn't 75% was because they didn't mention the commission and arrangement fee. When I asked why they said it was in the terms.

Is this the norm?
I feel stupid spending this seeing as I have been haggling over a few hundred quid on my car sale when I could have sold it for less and been better off if I was in the 14 day cooling off peripd!!!!

OnanTheBarbarian

Seems to pretty much be the norm

The way we typically buy insurance has changed over the years, where people generally buy on price (the lowest) usually through the comparison sites. With the insurers being screwed down on price in order to remain competitive, there are often admin fees and all manner of other fees if you do anything to change the original arrangements before the policy runs out.

These usually are present in the T&C, but not many people read them and it ultimately results in shock & horror if any policy changes then need to be made or cancellation etc.

There will be a complaints procedure you can pursue with the insurers, if after completing the complaints process you remain dissatisfied, you can then take the complaint to the ombudsman, but you must exhaust the complaint procedure as part of your policy before getting the ombudsman involved.