Cancelling insurance mid term to take out new (better) deal

impy78

dunstonh wrote: »

Did you work for free? Did your supervisor work for free? What about your pensions and benefits? The IT staff that put the computers in place? What about the FSA, FSCS and FOS levies/costs? Did your employer not have to pay any of those? and all the other things that lisyloo mentions...

The cost of the transaction itself is cheap. However, putting everything in place to allow that transaction is not.

Yes, but in the time it takes to cancel a policy, it probably would cost aboyt ooohhh, maybe £2 to cancel.

Besides the whole thing is a joke, the same company traded under different names, and certain brands didn't charge and some did.

They are making a huge profit without the cancellation fee.

And I didn't have any benefits or pensions, and I was on minimum wage, they treated the staff like crap, I rather hope they do go down the toilet.

lisyloo

I worked for an insurance company myself for almost 5 years, and I usually waived the fee, unless the person on the other end was horrible.

You obviously were given that discretion.
I think business models have changed since you worked in the industry and I don't think the call center people have that discretion.

And I didn't have any benefits or pensions, and I was on minimum wage, they treated the staff like crap, I rather hope they do go down the toilet.

The only suggestion I can offer is to be more particular about your employers and your insurers.
Obviously there isn't limitless choice but we all have options.
If you don't like a contract then don't sign it - find another one.
The main problem seems to be people being unware of what they've agreed to.

raskazz

impy78 wrote: »

Yes, but in the time it takes to cancel a policy, it probably would cost aboyt ooohhh, maybe £2 to cancel.

Besides the whole thing is a joke, the same company traded under different names, and certain brands didn't charge and some did.

They are making a huge profit without the cancellation fee.

And I didn't have any benefits or pensions, and I was on minimum wage, they treated the staff like crap, I rather hope they do go down the toilet.

Sour grapes anyone? :rotfl:

impy78

Oh it's total sour grapes!!! Lol!