XSDirect saying I owe them £51,000 !!!!!

Sea_Shell

Just been looking into XSDirect, and they appear to offer cheaper policies for large all section excesses, including Third Party Claims.

OP, what was your excess on your original policy, regardless of the voiding?  £1000, £5000?


They also appear to be registered in Ireland, and so would the FOS get involved?

ariyanxh

Sea_Shell said:

sheramber said:

Sea_Shell said:

 ?

Doesn't a void from inception mean that they have to refund all premiums too?  Surely they can't accept money and also void!?

 

I think the policy money has been set off against the outstanding charge.

So it has.  Sorry missed that.

So they have effectively "refunded" the annual premium, but have just knocked it off the balance owed.


Voiding just seems so extreme in the situation described, without any warning, chasers or other communication!?! 

The ombudsman would have been all over it, had it been pursued at the time, surely.

OP are you sure the claim forms were the reason, rather than a non disclosure of a material fact?



ETA - was your vehicle inspected by your insurers or a recommended repairer before your policy was voided?  Where was it recovered to after the accident?

Have they spotted something non standard on it?

Was it standard model spec?

100% I remember getting a letter through the post saying policy has been cancelled because I had “missed” the two week window for the forms. I wish at least I was told what a policy cancellation meant. I had no idea it means that the day of the accident was not covered either. I’ve only learnt this today 3.5 years on. No correspondence from them at all. I’m flabbergasted.

ariyanxh

Sea_Shell said:

Just been looking into XSDirect, and they appear to offer cheaper policies for large all section excesses, including Third Party Claims.

OP, what was your excess on your original policy, regardless of the voiding?  £1000, £5000?


They also appear to be registered in Ireland, and so would the FOS get involved?

I think the excess was £3000

Sea_Shell

ariyanxh said:

Sea_Shell said:

Just been looking into XSDirect, and they appear to offer cheaper policies for large all section excesses, including Third Party Claims.

OP, what was your excess on your original policy, regardless of the voiding?  £1000, £5000?


They also appear to be registered in Ireland, and so would the FOS get involved?

I think the excess was £3000

Could you have afforded to pay this under normal circumstances?

Was your car also written off?  How much was it worth?

born_again

ariyanxh said:

Is this from the "At Fault" claim or the one where you parked car was hit?

You have put 2020 twice? Is that a typo?

Was your 1st insurance policy paid monthly?

It’s from the “At Fault” claim from 2018. Yeah it was paid monthly.

In someway you are lucky this has come to light in 3.5 years & not a lot longer & the personal injury a lot higher. 

Did you stop the payments on the insurance after the crash? Then only continue them after they chased you?

molerat

Sea_Shell said:

Just been looking into XSDirect, and they appear to offer cheaper policies for large all section excesses, including Third Party Claims.

OP, what was your excess on your original policy, regardless of the voiding?  £1000, £5000?


They also appear to be registered in Ireland, and so would the FOS get involved?

XS Direct Insurance Brokers Limited is deemed authorised and regulated by the Financial Conduct Authority. The nature and extent of consumer protections may differ from those for firms based in the UK. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website. The company is registered in Ireland No. 442321. Registered Office: 23 Ely Place, Dublin 2, Ireland.

https://www.fca.org.uk/consumers/how-brexit-could-affect-you/dealing-eea-firms-funds

Looks like the FOS will get involved in a complaint but rights to any financial redress might be limited due to having to go through their home location dispute service which may or not exist.  Not really a problem in this case.

ariyanxh

Sea_Shell said:

ariyanxh said:

Sea_Shell said:

Just been looking into XSDirect, and they appear to offer cheaper policies for large all section excesses, including Third Party Claims.

OP, what was your excess on your original policy, regardless of the voiding?  £1000, £5000?


They also appear to be registered in Ireland, and so would the FOS get involved?

I think the excess was £3000

Could you have afforded to pay this under normal circumstances?

Was your car also written off?  How much was it worth?

I didn’t make a claim. My car was also written off. 

ariyanxh

born_again said:

ariyanxh said:

Is this from the "At Fault" claim or the one where you parked car was hit?

You have put 2020 twice? Is that a typo?

Was your 1st insurance policy paid monthly?

It’s from the “At Fault” claim from 2018. Yeah it was paid monthly.

In someway you are lucky this has come to light in 3.5 years & not a lot longer & the personal injury a lot higher. 

Did you stop the payments on the insurance after the crash? Then only continue them after they chased you?

Yeah I continued with the payments after they chased me.

Sea_Shell

ariyanxh said:

Sea_Shell said:

ariyanxh said:

Sea_Shell said:

Just been looking into XSDirect, and they appear to offer cheaper policies for large all section excesses, including Third Party Claims.

OP, what was your excess on your original policy, regardless of the voiding?  £1000, £5000?


They also appear to be registered in Ireland, and so would the FOS get involved?

I think the excess was £3000

Could you have afforded to pay this under normal circumstances?

Was your car also written off?  How much was it worth?

I didn’t make a claim. My car was also written off. 

Are you sure though that your excess didn't also apply to third party claims?

That appears to be their remit...sharing risk through high excesses on ALL sections.

sheramber

it is quite possible the personal injury figure has only recently been established as it would depend on how long lasting the effects of the injury were.

How much the excess was is not relevant if the policy was cancelled.