Double Discount Car Insurance Loophole!

abomb1969

I took out a policy before it is pulled as I suspect that they might realised their error in being so generous in the morning! My cheque back will be £413 and my premium £579. And I paid the £579 with my amex 2% cashback card - thats roughly £140 for a 4.6l Range Rover.

I read the small print and you have till the 28 Nov to submit and get an alternative quote. This is a binding contract now I have entered into it and as long as I comply with the T&C's I will be getting my cheque - has anyone else done this yet?

Over the cheapest quote I got from NU I saved £230ish.

I would suggest anyone hesitating takes an insurance policy NOW as you have 14 days to cancel if you change your mind, as the Nationwide say the offer can be withdrawn at any time I suspect that several of you might actually get free insurance if you get in quick.

ltlmiles5

balsingh wrote:

Most companies provide a courtesy car ... but I've not come across hotel cover or clothes bring covered. Maybe thats what they will catch you out on!!

Yes, I've just renewed my car insurance today, and I didn't dare take out Nationwide's offer as it was so much more than the one I was quoted. Incidentally, I found https://www.quotelinedirect.com a lot better than the two websites suggested here. I always spend hours and days getting various quotes and they've always provided the BEST! I've been with them for 3 years now, into my 4th year, and no problems so far. They even give you some discounts eg 1/2 price MOT, etc with various companies. I would try them for a very cheap quote.

It's true that it's hard to find companies that will provide the hotel or clothes cover. But if any of you want to try out quotelinedirect, they're also offering £100 Thomas Cook vouchers for new business! If you take out breakdown cover from them as well, it's only £59 from Europ Assistance, Europe's largest breakdown company, and that covers you even outside your home and in Europe! Bargain!

I called them previously on a Sunday, and it only took them about 40 mins to get to me. Last year when it was snowing badly in Kent, they were with me within the hour, although I was told it would take longer due to the hazardous conditions!

One negative side though: The web quote I got was about £60-100 cheaper than the one I got through their customer services. They ask you to call them to see if they can beat their web quote, and it turns out they can't and it's even more expensive as their website isn't 100% accurate!!! Still, it was cheaper than other companies. Maybe it's because I'm not a new customer.... last time , I got a better deal when I rang up.

MSE_Martin

Hi Folks,

I know some of you have said "im too scared to do this", do remember even if Nationwide don't agree to double the discount you've a 14 day cooling off period. This is from its t&cs

Please read your Policy carefully and keep it in a safe place. If You do not feel that this Policy meets Your requirements, please send it back to Us straight away. If it is returned to Us within 14 days of receipt We will refund the premium in full provided no claims have been made during that time. The full annual premium will be due if a claim has been made during that period.

balsingh

I am sure someone mentioned that it can take 28 days to claim the money back .... by then its too late to cancel if the claim falls through.

abomb1969

Yes balsingh you will be too late to cancel but you can still terminate cover albeit at a cost (does anyone know what the cost of this is i dont have my policy docs at work).

Bonjeroo

abomb1969 wrote:

Yes balsingh you will be too late to cancel but you can still terminate cover albeit at a cost (does anyone know what the cost of this is i dont have my policy docs at work).

I don't see that this is an issue. You can read the policy documents here:

http://www.nationwide.co.uk/insuran..._ins_policy.htm

Surely you can check the policy for your cheaper quote against the Nationwide policy before going ahead.

Any money savers fancy calling Nationwide and seeing which companies' policies match theirs?

Bonj

MSMiser

Well I have just gone for it, got renewal quote from AA they wanted just over £400. Nationwide quote was £255 then Norwich Union 'Quoted me Happy' at £210 so a saving of £235. Thanks Martin !

newfunk

So if they dont pay up, how much is the cancellation charge?

MSMiser

Shoulnt be a cancellation charge as you have a 14 day cooling off period

newfunk

MSMiser wrote:

Shoulnt be a cancellation charge as you have a 14 day cooling off period

But if it takes 28 days to pay up what then? Just my luck I'd be out of pocket by £800