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  • FIRST POST
    • singhini
    • By singhini 29th Sep 17, 7:13 PM
    • 335Posts
    • 200Thanks
    singhini
    Sold my car: Rang insurance but no refund
    • #1
    • 29th Sep 17, 7:13 PM
    Sold my car: Rang insurance but no refund 29th Sep 17 at 7:13 PM
    I just sold my car earlier today and have emailed DVLA to notify them. I then contacted my insurance company to tell them aswell (expecting to hear that I was entitled to a refund) but I was told there's no refund as I have had the policy for over 90 days.


    The policy is a dual policy (i.e. two cars) and is a classic car policy (both cars are classic cars), however I cant find anywhere on any of the policy documents that no refund is applicable after 90 days


    The total policy was 600 and was renewed back in April so I was thinking about 100 - 150 refund (simple maths approach being 300 per car and still 6 months worth of insurance so about 150).


    Its not the amount of money I'm bothered about but the principal (I have 6 months unused insurance so surely something should be refunded)?? I would understand if I was told that irrespective of selling one of the cars you still have insurance on the other hence no refund as the policy is still active. But I was told it was due to being over 90 days (so had I sold both cars today then are they saying there would be no refund either).


    Anyone else had this?
Page 1
    • Ms Chocaholic
    • By Ms Chocaholic 29th Sep 17, 7:15 PM
    • 9,376 Posts
    • 57,700 Thanks
    Ms Chocaholic
    • #2
    • 29th Sep 17, 7:15 PM
    • #2
    • 29th Sep 17, 7:15 PM
    What company is this?
    Thrifty Till 50 Then Spend Till The End

    You can please some of the people some of the time, all of the people some of the time, some of the people all of the time but you can never please all of the people all of the time
    • McKneff
    • By McKneff 29th Sep 17, 7:21 PM
    • 36,035 Posts
    • 46,443 Thanks
    McKneff
    • #3
    • 29th Sep 17, 7:21 PM
    • #3
    • 29th Sep 17, 7:21 PM
    Look at your Terms etc. Cacelling brings about cancellation charge and very oftem afmin charge too
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
    • singhini
    • By singhini 29th Sep 17, 7:27 PM
    • 335 Posts
    • 200 Thanks
    singhini
    • #4
    • 29th Sep 17, 7:27 PM
    • #4
    • 29th Sep 17, 7:27 PM
    What company is this?
    Originally posted by Ms Chocaholic
    The company I took the policy through are called "ClassicLine" based in Hinckley


    I just looked on the insurance certificate and the policy is underwritten by a company called "ERG Group"
    • singhini
    • By singhini 29th Sep 17, 7:32 PM
    • 335 Posts
    • 200 Thanks
    singhini
    • #5
    • 29th Sep 17, 7:32 PM
    • #5
    • 29th Sep 17, 7:32 PM
    Look at your Terms etc. Cacelling brings about cancellation charge and very oftem afmin charge too
    Originally posted by McKneff
    Good point - insurance companies do tend to charge an admin fee to cancel (to answer your question I cant see any T&C's relating to cancellation charges, just T&C's regarding what is covered and upto what limits and what excess's apply i.e. i'm limited to 1,500 miles annually and windscreen excess is 75) I can see this sort of information but nothing to do with cancellations


    I will ring them up again tomorrow and ask them to show/point out where this info is located.
    • Warwick Hunt
    • By Warwick Hunt 29th Sep 17, 7:38 PM
    • 1,153 Posts
    • 551 Thanks
    Warwick Hunt
    • #6
    • 29th Sep 17, 7:38 PM
    • #6
    • 29th Sep 17, 7:38 PM
    Given it's a dual policy, what happened to the other car?
    • singhini
    • By singhini 29th Sep 17, 7:46 PM
    • 335 Posts
    • 200 Thanks
    singhini
    • #7
    • 29th Sep 17, 7:46 PM
    • #7
    • 29th Sep 17, 7:46 PM
    ah think ive found something on an original email from them:


    6.3 Insurers all vary with regard to premium refunds on cancellation so please refer to your policy document to find out if any premium is refundable.




    now I need to find my policy document
    • singhini
    • By singhini 29th Sep 17, 7:47 PM
    • 335 Posts
    • 200 Thanks
    singhini
    • #8
    • 29th Sep 17, 7:47 PM
    • #8
    • 29th Sep 17, 7:47 PM
    Given it's a dual policy, what happened to the other car?
    Originally posted by Warwick Hunt
    still got it
    • singhini
    • By singhini 29th Sep 17, 7:54 PM
    • 335 Posts
    • 200 Thanks
    singhini
    • #9
    • 29th Sep 17, 7:54 PM
    • #9
    • 29th Sep 17, 7:54 PM
    Found it:


    upto 30 days = 60% refund
    31-60 days = 40% refund
    61-90 days = 20% refund
    over 90 days = 0%


    Well I should have read the T&C's properly.


    Thanks to all those who responded
    • Ozzuk
    • By Ozzuk 2nd Oct 17, 11:15 AM
    • 1,347 Posts
    • 1,976 Thanks
    Ozzuk
    There is a way around this, too late for you now though. Tell them you've bought something they won't insure, like a minibus. They'll cancel your policy with a pro-rata refund.

    I may or may not have done this many, many years ago, perhaps by using a reg from a minibus on ebay. No warranty is given or implied with this advice
    • Car 54
    • By Car 54 2nd Oct 17, 11:42 AM
    • 3,028 Posts
    • 1,898 Thanks
    Car 54
    There is a way around this, too late for you now though. Tell them you've bought something they won't insure, like a minibus. They'll cancel your policy with a pro-rata refund.

    I may or may not have done this many, many years ago, perhaps by using a reg from a minibus on ebay. No warranty is given or implied with this advice
    Originally posted by Ozzuk
    That sounds like fraud to me.
    • Johno100
    • By Johno100 2nd Oct 17, 11:47 AM
    • 3,762 Posts
    • 4,424 Thanks
    Johno100
    Found it:

    upto 30 days = 60% refund
    31-60 days = 40% refund
    61-90 days = 20% refund
    over 90 days = 0%

    Well I should have read the T&C's properly.

    Thanks to all those who responded
    Originally posted by singhini
    Who's T&C's are those the brokers or the underwriters?

    Have a read of The Financial Ombudsman Service's guidance on such matters and the case study is also worth a read. Yes, it is some years old but I can't imagine it would still be there if the situation had changed markedly.

    http://www.financial-ombudsman.org.uk/publications/ombudsman-news/54/insurance.htm
    • Ozzuk
    • By Ozzuk 2nd Oct 17, 12:05 PM
    • 1,347 Posts
    • 1,976 Thanks
    Ozzuk
    That sounds like fraud to me.
    Originally posted by Car 54
    Could well be, I didn't say it was good advice!
    • lg13mza
    • By lg13mza 2nd Oct 17, 1:47 PM
    • 97 Posts
    • 36 Thanks
    lg13mza
    I had similar on house insurance recently. Even though it was in their T&C's I still argued that the 'admin fee' for cancellation wasn't appropriate and I would report them to the FCA. Amazingly they reduced the admin fee dramatically.
    • Warwick Hunt
    • By Warwick Hunt 2nd Oct 17, 3:17 PM
    • 1,153 Posts
    • 551 Thanks
    Warwick Hunt
    still got it
    Originally posted by singhini
    Uninsured?
    • dlee16
    • By dlee16 5th Oct 17, 1:52 PM
    • 2 Posts
    • 0 Thanks
    dlee16
    Just had a similar experience with Rias Insurance. I had the policy for six months and changed my vehicle. To insure my new car that had a smaller engine was 452.33 for the remaining six months and the annual cost for a new policy with them was 1161.52! I cancelled the policy and was charged 50 admin but started a new annual policy with Saga for 261. Beware of Rias Insurance.
    • Johno100
    • By Johno100 5th Oct 17, 2:36 PM
    • 3,762 Posts
    • 4,424 Thanks
    Johno100
    Just had a similar experience with Rias Insurance. I had the policy for six months and changed my vehicle. To insure my new car that had a smaller engine was 452.33 for the remaining six months and the annual cost for a new policy with them was 1161.52! I cancelled the policy and was charged 50 admin but started a new annual policy with Saga for 261. Beware of Rias Insurance.
    Originally posted by dlee16
    50 is about normal for an admin fee. Assuming you paid the full premium up front, are they refunding you on a pro-rata basis, so in your case approximately 50% of your annual premium coming back to you?
    • dlee16
    • By dlee16 5th Oct 17, 2:57 PM
    • 2 Posts
    • 0 Thanks
    dlee16
    Thanks for your reply. I'll look into this right now as I paid full premium up front in March.
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