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Car insurance want me to pay £830
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Torran123
Posts: 1 Newbie
I had a car which was damaged by a leak caused by heavy rainfall after 2 months of me owning it. So i made a claim to my insurance but a few days after they said my car was valued below my excess so my claim wasn't viable but they would still come and collect my car for scrap free of charge. I was quite annoyed about this but I'm getting a new car next week so I will just transfer it onto my existing policy or so I thought. I checked my account today and they are going to try and take £830 from my account on the 21/04. I presume this is for the remaining months I had to pay (£91 a month). But I was told by the person on the phone I had 31 days to get a new car onto my policy. Surely I can't be expected to pay 830 pounds for my car breaking through no fault of my own. Especially as I'm fully comprehensive? Also I have cancelled monthly insurance with this company once before as I was going to university and I just had to pay the 50 pound admin fee and that was all. Can anyone help me ?
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Comments
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You pay for an annual policy, so you need to pay for it. It doesn't matter whether you were fully comprehensive or not.
The £830 isn't a fee for you breaking your car. It's for the insurance.0 -
sounds like it would have been cheaper to not go through your insurance,0
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If you have a policy you pay monthly then yes you have to keep paying it. Ask them to transfer the policy to the new car and adjust as necessary.
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Car insurance is an annual premium the money is loaned to you when you pay it monthly, if the policy is ceased then the full amount becomes due.0
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All car insurance is annual (bar short term policies). If you choose to pay monthly, you are actually taking out a loan to pay the annual premium.
If you make a claim on the policy in the year, then the policy becomes payable in full. Most insurers will transfer the policy to a new car as long as there is no more than a reasonable delay.
If you dont get a replacement car, you are required to pay the outstanding loan due.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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