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Insurance Fraud?
tomsolomon
Posts: 3,613 Forumite
in Motoring
I just changed motor and decided to get a new quote instead of using my existing insurer. I had a look on one of the comparison website and found a really good quote, fully comp with all the bells and whistles. It seemed a bit too good to be true at the time but the insurance went through I payed the deposit of £73 and got my policy documents through email. Standard stuff right!
i get a phone call and an email today around the same time. I was out of the house and couldn't read the email attachment and the guy on the phone explained that they had passed the credit agreement onto a third party for DD payments. Okay nothing wrong there I thought, until I got home and read the third party payment plan. They had put a whacking great charge on top of my originally agreed balance with the insurance company, which took the payments from £24 a month to £31 a month.
Surely this can't be legal.
The companies involved are Wiser Choice Insurance, Europa Group Ltd. and Premium Credit.
Where do I stand people?
i get a phone call and an email today around the same time. I was out of the house and couldn't read the email attachment and the guy on the phone explained that they had passed the credit agreement onto a third party for DD payments. Okay nothing wrong there I thought, until I got home and read the third party payment plan. They had put a whacking great charge on top of my originally agreed balance with the insurance company, which took the payments from £24 a month to £31 a month.
Surely this can't be legal.
The companies involved are Wiser Choice Insurance, Europa Group Ltd. and Premium Credit.
Where do I stand people?
To travel at the speed of light, one must first become light.....
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Comments
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I have the original payments of £24.53 in writing on the policy schedule.To travel at the speed of light, one must first become light.....0
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Did you check out any reviews:
http://www.knowyourmoney.co.uk/wiser-choice-car-insurance-review/
Oh dear....:(Optimists see a glass half full
Pessimists see a glass half empty
Engineers just see a glass twice the size it needed to be
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Scum bags. I shall be adding my opinions to that website and passing the info on to others. Many thanks.To travel at the speed of light, one must first become light.....0
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Looks like their modus operandi is to offer a cheap policy, then increase the cost so the insured decides to cancel, and then make a wedge on the cancellation charges.Optimists see a glass half full
Pessimists see a glass half empty
Engineers just see a glass twice the size it needed to be0 -
All insurance companies bump the price up if you want to pay for it monthly, what does the small print actually say?Understeer is when you hit a wall with the front of your car
Oversteer is when you hit a wall with the back of your car
Horsepower is how fast your car hits the wall
Torque is how far your car sends the wall across the field once you've hit it0 -
The original quote was for £265, rising to £318 for, "administration". I was expecting this. The £24 per month includes the administration fee. I have this in writing on the policy schedule.To travel at the speed of light, one must first become light.....0
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Do you not have a 14 day coolingoff period in which to cancel this insurance ???
As far as I know you should have.
HTH0 -
Silly thought - it isn't 10 monthly installments rather then 12 is it?
That would make your 31 quids a month about right.
It's not uncommon for insurers to charge over 10 rather than 12 installments.Optimists see a glass half full
Pessimists see a glass half empty
Engineers just see a glass twice the size it needed to be0 -
Is this over 10 monthly instalments?tomsolomon wrote: »The original quote was for £265, rising to £318 for, "administration". I was expecting this. The £24 per month includes the administration fee. I have this in writing on the policy schedule.
If so, there is something wrong with the numbers as £318 minus the £73 deposit you already paid leaves a balance of £245 which would be £24.50 per month (over 10 months)
What does the small print say about admin fees for any 3rd party companies that may be involved?Understeer is when you hit a wall with the front of your car
Oversteer is when you hit a wall with the back of your car
Horsepower is how fast your car hits the wall
Torque is how far your car sends the wall across the field once you've hit it0 -
Quiet_Spark wrote: »Is this over 10 monthly instalments?
If so, there is something wrong with the numbers as £318 minus the £73 deposit you already paid leaves a balance of £245 which would be £24.50 per month (over 10 months)
What does the small print say about admin fees for any 3rd party companies that may be involved?
£24.53 to be precise.
well spotted. I didn't put the pence on, too long winded type.
Yes the payment schedule is over 10 months.To travel at the speed of light, one must first become light.....0
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