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Cancelling car insurance - they want £40
Comments
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Captaincodpiece wrote: »You entered into a 12 month contract with them agreeing to pay the full amount. They were kind enough to allow you to pay it in instalment and its you who wants of of the contract not them.
Where did I say that then ? I never paid it in installments...it was paid outright. They have a ridiculous cancellation charge that outweighs the return due to me for cancelling. To ensure I cough up they are telling me its illegal not to cancel If I sell the car.0 -
The fact is, is that it is irrelevant that it is legal or illegal, don't waste your time.
When you took out the insurance you agreed to pay any and all cancellation fees etc and signed to say you had read all the terms and conditions.
Its quite a small amount to be honest, you could also have been stung with an admin charge of £50 ish, so think your self lucky
Just pay the £40make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
Where did I say that then ? I never paid it in installments...it was paid outright. They have a ridiculous cancellation charge that outweighs the return due to me for cancelling. To ensure I cough up they are telling me its illegal not to cancel If I sell the car.
Ok, so I mis read it as you said not pay them anything.
If you allow that policy to expire can you afford to insure the new car without a no claims bonus?
Two policies will require two no claims bonus.0 -
Captaincodpiece wrote: »You entered into a 12 month contract with them agreeing to pay the full amount. They were kind enough to allow you to pay it in instalment and its you who wants of of the contract not them.
The OP said nothing about instalments, reads like he is fully paid up.
The £40 is a ridiculous "admin fee" for the cancellation.
If you believe the somewhat apocryphal stories, (which have been debated long and hard elsewhere) if the policy is not cancelled, and the uninsured new owner has an accident, the current insurer has a legal obligation to pay out, and then pursue the OP for the money.
So basically, the OP is doing his insurer a favour by cancelling, so that they can wheedle out of a payout, followed by a lot of legal expenses to get an award of £50 a week from the OP against a possible £1,000,000 payout, and they reward him with a £40 charge.
Robdogs. (but apparently common)I want to go back to The Olden Days, when every single thing that I can think of was better.....
(except air quality and Medical Science
)0 -
If you tell them you sold it, refuse to pay the bill THEY will cancel the policy, for either breach of contract or failure to pay.
Then when you next get quotes and you see the line 'have you ever had an insurance policy cancelled or any special terms imposed' -- you will now answer YES.
Do some dummy quotes selecting 'yes'. Then tell us if you want to take the risk or not just to save £40.
If anything, tell them you haven't sold it and keep it running - but still carries some significant risks.
As well as the fact if you do not cancel it - you cannot use your NCB on the new policy as it will be classed as being in use. So if you've told your new insurer you have X NCB, it will come to light you actually should have declared a big fat zero.0 -
The OP said nothing about instalments, reads like he is fully paid up.
The £40 is a ridiculous "admin fee" for the cancellation.
If you believe the somewhat apocryphal stories, (which have been debated long and hard elsewhere) if the policy is not cancelled, and the uninsured new owner has an accident, the current insurer has a legal obligation to pay out, and then pursue the OP for the money.
So basically, the OP is doing his insurer a favour by cancelling, so that they can wheedle out of a payout, followed by a lot of legal expenses to get an award of £50 a week from the OP against a possible £1,000,000 payout, and they reward him with a £40 charge.
Robdogs. (but apparently common)
You buy 1 years insurance - thats the agreement that you sign up to.
If you renege on that agreement then you are subject to the terms and conditions set out when the insurance was taken out.
O/P - just pay the £40.0 -
Where did I say that then ? I never paid it in installments...it was paid outright. They have a ridiculous cancellation charge that outweighs the return due to me for cancelling. To ensure I cough up they are telling me its illegal not to cancel If I sell the car.
Ask them to direct you to the relevant law, I'm guessing they will put you on hold while they speak to an senior colleague who is slight;ly more knowledgeable (But equally wrong) and then try and blag you by telling you the Marine Insurance Act. Which is completely wrong.
As you used to work with Insurance Law, the relevant law on insurable interest is actually the Gambling Act which creates a wider definition of "Insurable Interest". It would be amusing to correct them and tell them the relevant law is the Gambling Act as they will no doubt try and tell you you're wrong.
If I were you apart from having fun asking them to demonstrate that it's illegal for you not to cancel by referring to the above and asking them to explain how Day Insurance and Learner Insurance is able to in effect issue a second policy on the same car but for different cars. I would send an "Official Complaint" by email, they're duty bound to investigate it. If you keep the complaint concise and polite but well worded, most companies will waive this type of cancellation fee in these circumstances.
I would drop into the complaint that their staff either intentionally miss led you or unintentionally miss led you due to poor training about it being illegal. Just to see their response0 -
Ask them to direct you to the relevant law, I'm guessing they will put you on hold while they speak to an senior colleague who is slight;ly more knowledgeable (But equally wrong) and then try and blag you by telling you the Marine Insurance Act. Which is completely wrong.
As you used to work with Insurance Law, the relevant law on insurable interest is actually the Gambling Act which creates a wider definition of "Insurable Interest". It would be amusing to correct them and tell them the relevant law is the Gambling Act as they will no doubt try and tell you you're wrong.
If I were you apart from having fun asking them to demonstrate that it's illegal for you not to cancel by referring to the above and asking them to explain how Day Insurance and Learner Insurance is able to in effect issue a second policy on the same car but for different cars. I would send an "Official Complaint" by email, they're duty bound to investigate it. If you keep the complaint concise and polite but well worded, most companies will waive this type of cancellation fee in these circumstances.
I would drop into the complaint that their staff either intentionally miss led you or unintentionally miss led you due to poor training about it being illegal. Just to see their response
Great reply,thankyou and reminds me of why im here....its a money saving forum right ?0 -
You buy 1 years insurance - thats the agreement that you sign up to.
If you renege on that agreement then you are subject to the terms and conditions set out when the insurance was taken out.
O/P - just pay the £40.
Quite right, if you can't be bothered to read how much "admin fee" they charge for a few seconds work, it is your own fault
(whether someone ought to look at these sort of "admin fees" is for an interesting few picoseconds of debate sometime)
Personally, I'd pay the £90, get 2 months cover and an extra years no claims bonus (200 a year is worth £33 for the 2 months, there is £40 to pay anyway, so it comes to a loss of £17 to gain an extra years no claims.)I want to go back to The Olden Days, when every single thing that I can think of was better.....
(except air quality and Medical Science)0 -
Quite right, if you can't be bothered to read how much "admin fee" they charge for a few seconds work, it is your own fault
(whether someone ought to look at these sort of "admin fees" is for an interesting few picoseconds of debate sometime)
Personally, I'd pay the £90, get 2 months cover and an extra years no claims bonus (200 a year is worth £33 for the 2 months, there is £40 to pay anyway, so it comes to a loss of £17 to gain an extra years no claims.)
Get real, in reality who looks at cancellation fees. Ive been with them for some time, I have maximum no claims (so not an issue) they want £400 to insure the new car. I can get it elsewhere for £200, so even with the cancellation fee Im better off binning them.0
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