Do I pay premium or admin fee due to error in no claims discount?

The premium has gone up by £400 because I said the incorrect no claims discount where I have 0 and there is an admin fee of £25.

They said it's an offence to drive with adequate third party insurance cover.

However my old insurance renewed at the same time and that has all the right details and I'll cancel the previous insurance.

Wity the new insurance, do I pay the premium of £400 quid which they said it's gone up or the administration fee? Or both together?

If I cancel the old insurance, how much is the applicable fee to cancel insurance?

Replies

  • DullGreyGuyDullGreyGuy Forumite
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    The additional premium and admin fee will be payable to retain that policy, you may just want to check if its £400 inc the admin fee of £25 or excluding it.

    Cost of cancellation varies massively between insurers/brokers, you'd need to ask yours what the fee will be. If you've not yet renewed your old policy and just want it to end at its end date then its not a case of cancelling it but asking for it to lapse and that should be free
  • Greg89Greg89 Forumite
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    Will I able to obtain a full refund as I paid £137 and only used it for 4 days in total. Or partial refund.

    They say I have to pay a cancellation fee of £20.
  • DullGreyGuyDullGreyGuy Forumite
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    Greg89 said:
    Will I able to obtain a full refund as I paid £137 and only used it for 4 days in total. Or partial refund.

    They say I have to pay a cancellation fee of £20.
    If they said the admin fee why did you ask about the refund at the same time?

    If you used 4 days then it wont be a full refund as you have to pay for those 4 days. In these circumstances insurers typically charge a short term rate for the days on cover rather the annual rate so cost is normally more than 4/365ths 
  • Greg89Greg89 Forumite
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    I understand and my error.

    Do you believe I get any refund, if so how much refund will I obtain? There is a 14 day cancellation policy however I'm unsure if they refund.
  • flower77gflower77g Forumite
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    possibly

    the amount paid
    less cancellation fee of £20
    less admin fee of £25 to update the policy to the correct information for 4 days
    less cost of 4 days cover at the correct (higher) rate
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