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Brokersure Limited not upholding the terms and conditions of their travel insurance
jonboysez
Posts: 70 Forumite
I recently took out single trip travel insurance with Brokersure Limited and after reading the terms and conditions decided it didn't fit my requirements so emailed them to cancel my policy within 14 days. They have asked me to confirm that I haven't made a claim and haven't travelled yet, which i confirmed but are telling me that they are going to charge me £5 to cancel the policy even though I have cancelled well within the 14 days cooling off period. Their policy terms state "You have a cooling off period where, should you decide that you find that the terms and conditions do not meet your requirements, and provided you have not travelled or claimed on the policy, you can advise us within 14 days of purchase for a full refund to be considered." Can they charge me this £5 penalty?
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Comments
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The cancellation rights period is not free period. They are allowed to make an admin charge. Many charge much more. So, £5 sounds entirely reasonable.
The key is to read about the policy first. Not after you buy 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.1 -
Their terms make no mention of a charge for cancelling within the cooling off period, on the contrary it states a full refund will be considered - besides which do insurance contracts not come under what used to be called "distance selling" rules?0
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BTW - the £5 cancellation fee amounts to 25.4% of the cost of the policy and it is 2.5 times the admin fee they charged for taking out the policy to start with (£17.66 plus £2 admin fee). I also took out a policy with the AA RECENTLY and cancelled it and they refunded me in full - so thumbs up to the AA0
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Will be considered, is not the same as Will be given. for £5 how much stress are you going to get over it?jonboysez said:Their terms make no mention of a charge for cancelling within the cooling off period, on the contrary it states a full refund will be considered - besides which do insurance contracts not come under what used to be called "distance selling" rules?"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Yes you learn stuff everyday - well done to all those companies that don't try to penalise folk in these hard times - Well Done the AA and Well Done to FairFx for dropping your charge for buying back my currency0
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