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Cooling off period
chewback
Posts: 68 Forumite
Does an insurer have to offer a cooling off period if I add a named driver to a policy?
My policy has been running for 2 months
My policy has been running for 2 months
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Comments
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No. Only when you take out a new policy / renew an existing one.All matter is merely energy condensed to a slow vibration, we are all one consciousness experiencing itself subjectively, there is no such thing as death, life is only a dream, and we are the imagination of ourselves.0
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Thanks. If I were to add a named driver and then took them off after a month would I get a refund?0
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Only your insurer can answer that, sorry.All matter is merely energy condensed to a slow vibration, we are all one consciousness experiencing itself subjectively, there is no such thing as death, life is only a dream, and we are the imagination of ourselves.0
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The expectation of that scenario is that you would pay an admin fee for adding them and possibly an increased premium. Then when you take them off, you would pay another admin fee and a partial refund (not exactly pro-rata and may not be worth it).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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If you only need to add a named driver for a limited period you can usually have them added as a temporary additional driver for a set period (a week, a month, whatever). That way you only pay one admin fee, nor do you have to pay the extra premium for the full year (assuming the extra driver increases your premium - it won't always do so).0
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Was the premium considerably more than the admin fees?Censorship Reigns Supreme in Troll City...0
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