Co-op Insurance Cancellation Fee

rodbillo

I took out a car insurance policy in May 2016 with Coop Insurance, however I needed to change my car, to a Leased vehicle, so I phoned them and changed the vehicle details on my policy. The amended policy is showing me as the owner, I phoned Co-op and advised them they needed to show the owner of the vehicle as the Leasing Company, they said they could not change the name, as they did not insure personnel leased vehicles.
It was then agreed the policy would have to be cancelled but they wanted charge me a £50 cancellation fee. In my opinion this should be wavered as they were unable to continue the policy due to restrictions of their rules. I have now escalated this to their Complaints Department.
Has anybody had any similar experiences with Co-op Insurance with regard to cancellation fees?

dunstonh

In my opinion this should be wavered as they were unable to continue the policy due to restrictions of their rules.

That is one opinion. However, the other is that you are the one breaking the contract and creating the extra work. So, you should pay for it.

I have now escalated this to their Complaints Department.

Chances are they will waive it as a goodwill gesture. However, that is all you are reliant on.

rodbillo

Thanks for the responses they offered me £25, but I was also of the opinion that it was them breaking the agreement, therefore I have ask them to deal with it as a complaint, I will let you know the outcome.

Quentin

Your opinion is wrong.

You have changed the goalposts not them.

Your complaint won't be upheld but a goodwill gesture is on the table which they may raise or remove!

rodbillo

Just a final update Co-op Insurance have agreed to refund the £50, Thank You Co-op.

rodbillo

Co-op Cancellation Fee **Wavered***

dunstonh

waived
....

Faith177

rodbillo wrote: »

Co-op Cancellation Fee **Wavered***

Probably because it's cheaper than the £500+ fee they will get charged if you to go to the Ombudsman

Quentin

Faith177 wrote: »

Probably because it's cheaper than the £500+ fee they will get charge if you to go to the Ombudsman

It's always worth making a complaint to an insurer no matter the rights and wrongs as they are likely to take into account not just any FOS fee they have to pay should a complaint end up being investigated but all the expensive management time involved in dealing with the complaint/corresponding with FOS etc, before making the decision to simply kill off the complaint with a goodwill gesture

dunstonh

Quentin wrote: »

It's always worth making a complaint to an insurer no matter the rights and wrongs as they are likely to take into account not just any FOS fee they have to pay should a complaint end up being investigated but all the expensive management time involved in dealing with the complaint/corresponding with FOS etc, before making the decision to simply kill off the complaint with a goodwill gesture

I was at a meeting with the FOS and this blackmail method was brought up. It was mentioned that they are looking at alternative funding ways, in particular with fast track complaints. No other detail given just that it was an area being looked at.

Quentin

dunstonh wrote: »

I was at a meeting with the FOS and this blackmail method was brought up.....

Must have been a fun meeting if they had blackmail on the agenda.

Do you or the fos know what blackmail is?

It certainly isn't what has happened here!

Customers are fully entitled to raise complaints, and it isn't the customers concern whether or not the complaint is properly addressed or killed off by way of a goodwill gesture. (Which looks more like a business decision than any blackmail - which is of course a criminal matter)