Expensive cancellation fees

Ian1961

I have just taken out insurance on my car and am looking at changing it in a few months time, i noticed that the provider has a £56 cancellation fee. How can they justify this amount?

The_Fat_Controller

Cancellation and change fees should have been one of your first considerations if you knew you were not going to have the policy for its full term.

neilmcl

Ian1961 said:

I have just taken out insurance on my car and am looking at changing it in a few months time, i noticed that the provider has a £56 cancellation fee. How can they justify this amount?

Seems pretty much the norm to me.

EssexExile

If you'd taken out short term insurance it would've cost more, plus a customer service person for 15 minutes at who knows what an hour. £56 sounds about right.

Flight3287462

Why would you cancel your insurance, just transfer to your new car.

Ian1961

Thanks for the replies, all valid points. Lesson to be learned regards looking at the small print.

marlot

I've just sold my car.  LV charged me an admin fee of £15, which I thought was very reasonable.

Jaybee_16

Although slightly off topic, I changed address three times in just over a year. Saga charged me no admin fees.