insurance rip off

loskie

of course the broker should get his commision after all he has done the work you are paying for. You cancelling earlier hasn't reduced the work for him has it? In fact it has possibly added to his workload.
If you disagree with the brokers commision go direct to an insurer next time.

stranger12

Yes but i shouldn't be the one paying their commision

The insurance should

Yes definitaly no more broker for me

Nodding_Donkey

Why? the broker is working for you, not working for the insurer.

AdrianC

stranger12 wrote: »

Yes but i shouldn't be the one paying their commision

Really? They've worked for you, to find you the year's policy - which you've chosen to cancel less than half-way through...?

The insurance should

And where do you think it'd come from? Yep, your premium!

Nobbie1967

AdrianC wrote: »

Really? They've worked for you, to find you the year's policy - which you've chosen to cancel less than half-way through...?



And where do you think it'd come from? Yep, your premium!

Maybe the OP wants their broker's commission payment paid by the insurance company and then added to all our premiums. I prefer the current system

Nodding_Donkey

Nobbie1967 wrote: »

Maybe the OP wants their broker's commission payment paid by the insurance company and then added to all our premiums. I prefer the current system

That's easily sorted, use an insurance agent not an insurance broker

foxy-stoat

I assume the OP used the broker because it was the cheapest premium for the 12 month policy.

I would of also assumed that the OP went on compare the market or go compare as a comparason and still choose the broker due to price.

The only way to find out if he has been ripped off would be to ask the cheapest company on one of the comparason web sites how much their cancellation charge would of been if the policy was taken out with them and how much the annual premium was. I bet there would be very little in it.

Years ago you would get pro rota cancellation rates plus a small fee and maybe not communicated to the customer until they asked, now all administration and canceallation fees are upfront at the point of sale, the punter has a chance to read them and cancel the policy within the 14 day cooling off period.

stranger12

Not exactly

I used them because they were £15 cheaper so not a lot

You have 14 days and lesson learned to read it in future

Still that doesn't justify morally how they rip u off

Nodding_Donkey

stranger12 wrote: »

Not exactly

I used them because they were £15 cheaper so not a lot

You have 14 days and lesson learned to read it in future

Still that doesn't justify morally how they rip u off

You just don't get it do you?

They haven't "ripped you off"

LMAO

Iceweasel

stranger12 wrote: »

Not exactly

I used them because they were £15 cheaper so not a lot

You have 14 days and lesson learned to read it in future

Still that doesn't justify morally how they rip u off

You never told us why you cancelled the policy.

It wouldn't be because you got a quote for a cheaper annual policy elsewhere would it?

I always found it best to wait till renewal time before changing companies for the reason you've discovered.