Trapped in AXA Car Insurance Policy?

Tom99

If your figures are right I make it £38 pm dearer.

A relative of mine was in the same position as you with AXA and it took over a year for the 3rd party to admit liability.

McKneff

As above, you agreed and signed to all the terms and conditions so you have no choice. Pay the fee or keep it going. You wont pay anything at the end because you just tell them you will not be renewing.

AdrianC

l.charles wrote: »

My choice of car is not the issue here.

Yes, it is. You changed cars, and their premium for the replacement is not competitive. In other words, they don't particularly want to cover you on that car. Then there's the increased risk you present, having been involved in two collisions in the year, neither of which is closed yet.

AXA should not be charging me £100 more for the same deal I can find elsewhere

Why not?

Anyway, were you honest when getting the quote, and said that there were still TWO open claims on your record?

and definitely shouldn't be charging me £400 to cancel my policy.

What do the Ts & Cs of your policy say about cancelling while there are open claims?

For context, AXA charge me the same monthly rate for my second-hand 2005 Ford Fiesta 1.0 that they did for my 2010 Fiesta Zetec 1.6 (which was the vehicle written off).

You seem to be forgetting that you didn't have two collisions within a year on your record, neither closed as not-at-fault yet. You are a much higher risk now.

Dr_Crypto

It sounds like they’ve been perfectly reasonable. Work out yourself which option is best for you.

CardinalWolsey

It doesn't sound like AXA are "charging" you to cancel the policy, rather it sounds as if you pay monthly and AXA require you to pay off the remainder of the insurance cost. Remember, when you take out insurance, you have to pay for the full insurance for the whole year up front. Because insurers are such generous souls, they lend you the money and ask you to pay it back month by month. Some insurers may offer a partial refund on the premium dependent upon how far in to the cover period you are, and whether you have made claims or not. In your case, it sounds as if AXA want full payment of their premium, which is what you would have agreed to when taking out the policy.

Comms69

l.charles wrote: »

My choice of car is not the issue here. AXA should not be charging me £100 more for the same deal I can find elsewhere and definitely shouldn't be charging me £400 to cancel my policy.

For context, AXA charge me the same monthly rate for my second-hand 2005 Ford Fiesta 1.0 that they did for my 2010 Fiesta Zetec 1.6 (which was the vehicle written off).

Yes, yes they should, otherwise there would be no competition in the market.....

Carrot007

l.charles wrote: »

For context, AXA charge me the same monthly rate for my second-hand 2005 Ford Fiesta 1.0 that they did for my 2010 Fiesta Zetec 1.6 (which was the vehicle written off).

Given the general market for 1.0 Fiesta's it's no wonder it's more. (relatively to purchase cost)

New drivers think they mus thav 1.0's for some reason. They cause more acidents statistically so the car costs more to insure.