Cancelling car insurance

Jam3s7899

So here is my issue. I am roughly 6 months into the new policy insuring my 3dr Vauxhall corsa. I pay monthly, not a one off payment. I am having my first baby in the coming month and pre-lockdown I was looking for a bigger car, at least one with 5 doors! 

I had a quote on a 1.5 Fiesta from my current insurers and they said the premium I’d have to pay is £250. I was okay with that. Then I tried getting a quote for a 1.6 Vauxhall Insignia and a 1.4 Astra. They wouldn’t insure me on that as it is a ‘big car’ for someone my age and how long I’ve been driving for which is 3 years and I am nearly 21. (Found that quite funny considering I drive, trucks, coaches, etc for work!) 🤦🏼‍♂️😂

It is particularly annoying as I could get insured by other companies on them cars at quite a reasonable price, but my current one won’t insure me on them!? So today I found a 1.0 ltr Ford Fiesta 17 plate. Nothing fancy, big enough for me, my fiancé and our baby. I asked for a quote and they were supposed to ring me back at 18.00 hrs, however they didn’t. So I called them at 18.45 and they picked up at 18.55 telling me I would have to request a call back for tomorrow. Which was annoying as I just want to know if they’ll insure me on this 1.0 ltr fiesta. 

Now, If they won’t insure me on this car tomorrow, they’re prohibiting me from getting a bigger car in my budget, which I need for when my baby is born. The other thing is that I can get insured by other company’s on this car for next to no money!

My question is; Can I ask them to cancel my policy free of charge as they are prohibiting me from getting a bigger car that I need?

Sorry for the lengthy post! Just want to know where I stand with this insurance company!
Thank you,
James

davidmcn

Jam3s7899 said:

My question is; Can I ask them to cancel my policy free of charge as they are prohibiting me from getting a bigger car that I need?

No.

Jam3s7899

davidmcn said:

Jam3s7899 said:

My question is; Can I ask them to cancel my policy free of charge as they are prohibiting me from getting a bigger car that I need?

No.

How come? I mean, if they’re going to try and bully someone into sticking with a small car that is sh**ty on their part! They make it sound like I’ve had accidents and speeding tickets! 

davidmcn

Jam3s7899 said:

davidmcn said:

Jam3s7899 said:

My question is; Can I ask them to cancel my policy free of charge as they are prohibiting me from getting a bigger car that I need?

No.

How come?

Because their only obligation is to continue to provide you with the insurance you've got, for the current year, for the current car. They're under no obligation to offer you insurance on another car at all, never mind at a competitive premium. 

dunstonh

(Found that quite funny considering I drive, trucks, coaches, etc for work!) 🤦🏼‍♂️😂

At 20 you are still immature in driving terms.  And to be fair, your posts do indicate a naivety that you expect for someone your age (not a dig - just a fact of life).  For example, your comments that you think they are bullying you into not getting a bigger car when in reality it is you that is looking to break the contract.  It is not bullying.  They just do not want to take on the higher risk you wish to move to.

They make it sound like I’ve had accidents and speeding tickets! 

Insurance is priced on statistics.  If you think of a Venn diagram, you placed in one circle for the 20 year olds, then you have another circle for the car, another for any advanced driving qualifications you hold (not all will offer that) and another for type of car,  claims history and so on.    The insurer will decide what pricing each segment gets.  Or they may decide that anyone that falls in a particular segment is outside of the risk tolerance and not offer cover.         The segment you are in may have hundreds or thousands of people.  Some will have more maturity and sense than others but the insurer does not have the data to know who they are.  They just know that statistically, x% of that segment are going to cost them £y.    So, they set the premium for all those in that segment to cover that.     The good pay for the bad or the unlucky.  That is how insurance works.     Or, in your case, they decide its just too high a risk and they dont want to offer cover, which is within their rights.

All that said, some insurers will waive their cancellation charge if they cannot insure you.  However, you still need to pay the premium side of the cancellation terms and any non-refundable items you purchased (which could include breakdown cover, legal expenses etc).

Gatser

Selling car & not replacing

We are selling our car and not replacing so believe we must (legally) cancel our insurance. There is only 2 months insurance remaining so we are not bothered about a refund ... but insurers say they will charge £50 to cancel policy as its in their T&C. 

Before I cancel and pay the £50 charge, any hints and tips please? (I fully accept that we agreed to their T&C) Thanks

jay1804

Gatser said:

Selling car & not replacing

We are selling our car and not replacing so believe we must (legally) cancel our insurance. There is only 2 months insurance remaining so we are not bothered about a refund ... but insurers say they will charge £50 to cancel policy as its in their T&C. 

Before I cancel and pay the £50 charge, any hints and tips please? (I fully accept that we agreed to their T&C) Thanks

Some Insurers were waiving fees due to Covid-19. Have you checked if your insurer is doing this?

Gatser

jay1804 said:

Some Insurers were waiving fees due to Covid-19. Have you checked if your insurer is doing this?

Yes, I asked QuoteMeHappy and they just “QuoteMeT&C”!! 🙄
Not a big issue but the outcome will influence our decision on renewing other car/house insurance which is currently with them! 

MinuteNoodles

Jam3s7899 said:

I had a quote on a 1.5 Fiesta from my current insurers and they said the premium I’d have to pay is £250. I was okay with that. Then I tried getting a quote for a 1.6 Vauxhall Insignia and a 1.4 Astra. They wouldn’t insure me on that as it is a ‘big car’ for someone my age and how long I’ve been driving for which is 3 years and I am nearly 21. (Found that quite funny considering I drive, trucks, coaches, etc for work!) 🤦🏼‍♂️😂

Now, If they won’t insure me on this car tomorrow, they’re prohibiting me from getting a bigger car in my budget, which I need for when my baby is born. The other thing is that I can get insured by other company’s on this car for next to no money!

Get a quote for a Ford Mondeo or other barge that your dad or uncle would drive rather than a favourite of the boy racer brigade. My son had a 1.3L Ford Fiesta, killed the engine on that and bought a 2 litre Mondeo Estate. His insurance dropped by a third. At age 19 it went from £1250 for the Fiesta to £750 for the Mondeo. 

Jam3s7899

Get a quote for a Ford Mondeo or other barge that your dad or uncle would drive rather than a favourite of the boy racer brigade. My son had a 1.3L Ford Fiesta, killed the engine on that and bought a 2 litre Mondeo Estate. His insurance dropped by a third. At age 19 it went from £1250 for the Fiesta to £750 for the Mondeo. 

I done all of the above. On every other insurance provider they would insure me real cheap. Just mine wouldn’t. Fortunately they have insured me on the 1.0 ltr fiesta. 

Fighter1986

It's frustrating, yes, and you're only doing the right thing by your soon to be child.

Congratulations, by the way.

I, too, have had instances where an existing insurer has refused to insure an upgrade and I've ended up saving money by cancelling and going elsewhere but it was I who attempted to edit the terms of our contract. I accepted the fees and moved on, as, that's what I agreed to be liable for when taking out the policy.

Some insurers just have a very specific risk appetite.