Brokersure Limited not upholding the terms and conditions of their travel insurance

jonboysez

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?

dunstonh

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.

jonboysez

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?

jonboysez

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 AA

csgohan4

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?

Will be considered, is not the same as Will be given.  for £5 how much stress are you going to get over it?

jonboysez

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 currency