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Promised a Refund then Refused by Insurance Company

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Hi people. I've been visiting this website for a while but this is my first time posting. I am looking for a little advice if anyone could be so kind.


Basically, I had a change of address with my insurer and refused their requote. I was advised that my policy would be cancelled in 7 days. 10 days later, after buying a new policy with another company, I called back up only to find out that my old policy was still running. In the end, they promised me a refund on my policy which they confirmed by email TWICE. I have two emails on two seperate days from them confirming that they would be issuing a refund.



They then called me back to tell me that this had been incorrectly issued and are now refusing to give me a refund or any form of compensation. So they've basically lied to me on two sepearate occassions and left me at a financial loss.


Can a company back track after promising to issue a refund? Would I still be entitled to compensation for all the lies they have fed me?


Hopefully somone can give me a bit of advice. Thank you.

Comments

  • What are they meant to be refunding you for? Do you mean a refund for the remaining time on your policy?
  • Fosterdog
    Fosterdog Posts: 4,948 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Is it possible that they are offering to refund the remaining policy but also have a cancellation fee which equals or is more than the remainder of the policy therefore meaning you won't physically get a refund as you also owe them money?
  • eddddy
    eddddy Posts: 17,985 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 28 October 2018 at 10:19AM
    It sounds like you're saying...
    • Your old insurer offered you a cancellation and refund
    • On that basis, you took out a new insurance policy
    • Your old insurer then changed their mind
    • So you are out-of-pocket as a result

    Assuming that's accurate (and it's a UK insurance company) -
    • You should follow the insurance companies complaints procedure
    • If you're unhappy with the outcome, complain to the Financial Ombudsman

    The ombudsman will look at whether you have been treated fairly, and can order the insurers to pay you compensation, if appropriate.

    See: https://www.financial-ombudsman.org.uk/publications/consumer-leaflet.htm


    In your complaint to the insurer, it's worth mentioning that you will take your complaint to the ombudsman, if you're unhappy with the outcome.



    Edit to add...

    Obviously, if it's the case that the insurer did nothing wrong, and you misunderstood and/or just assumed you would get a refund, following this process won't help you.
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