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Cancelling Car Insurance

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Hi all,

I am after some advice regarding a car insurance policy I hold currently...

The excess on my current policy is £3000 any time a claim is made but I have found a new policy that is a lower premium and excess, obviously my current insurer is looking to charge me to cancel the contract (£650) but is there any way for me to avoid or lower this cost?

The new premium I found was not available in January when I took the policy out otherwise I would have done it sooner...

Comments

  • forgotmyname
    forgotmyname Posts: 32,925 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Don't cancel it and they wont charge a cancellation fee.

    If the new premium cheaper when taking into account the cancellation costs? If not stay where you are?
    Censorship Reigns Supreme in Troll City...

  • rs65
    rs65 Posts: 5,682 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Combo Breaker
    If the new premium cheaper when taking into account the cancellation costs? If not stay where you are?

    Its not that straightforward. Sounds like an all sections excess.

    OP, £3k is a massive excess to bear. I would be doing what I could to escape.
  • forgotmyname
    forgotmyname Posts: 32,925 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Which companies have an all sections excess? Seen it mentioned but do not recall any names being mentioned?
    Censorship Reigns Supreme in Troll City...

  • rs65
    rs65 Posts: 5,682 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Combo Breaker
    I'm guessing the OP is with this one

    https://forums.moneysavingexpert.com/discussion/5455512
  • forgotmyname
    forgotmyname Posts: 32,925 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    LOL... xsdirectinsurance website is an untrusted connection on google/firefox

    Says it all i think.
    Censorship Reigns Supreme in Troll City...

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