[zimbo]

I have just arranged my free insurance for my new UP which I am collecting next week.

BUT when I was on the phone to my current insurer afterwards they duly informed me that there was a fee due of just under £22 to cancel the policy after which they will then send out my proof of NCB!!! No one EVER mentioned anything before about a cancellation fee

and now as I dont have a CC anymore and have never had a debit card and I dont use cheques so I now have to try figure out how to pay this fee within 7 days or will have to try see if a family member will let me use their card if I give them the cash for it.

I am actually furious about this fee and think it is absolutely rediculous, fee apparently is normally £55 but seeing as how far into my policy I am (due to expire end of September) it is only £22 due for cancelling!!

All the documents from this company are dealt with as e-docs and no physical paperwork is given except at cost if you desire them, so just trawled through all the e-docs I have (taken me about 2-3 hours to do) and way WAY deep down in the deepest darkest hole it mentions the fee of £55. Blinking joke if you ask me.

Sorry about the rant folks, but insurance companies really get me

 

[smargh]

This is standard practice for car (& most?) insurance.

 

[NightBlue]

Is your free insurance just the 7 day "drive away" or did you get a year's insurance with your deal?

 

[Smyth]

I dunno if it's because I'm younger with no real outgoings except my up, but I always wondered why people get so up tight about £22. Yes I understand it's about the principle but still, I can't be bothered getting worked up about such a little amount.

 

[ospreywatcher]

Most policies have a sliding scale for cancellations. They generally see it as a 12 month contract - mine will not refund if you are in the last 3 months of cover. Some companies will charge you for any changes throughout the year, although mine have waved any fee when I have been changing to a new car. However I am insured through a block policy for Institute of Advanced Motorists members; which possibly has different rules and regulations.
On second thoughts - is the £22 for cancellation, or a final payment if you have been paying monthly?Edited by: ospreywatcher

 

[zimbo]

Thanks for the replies guys.
Nightblue, this is a years insurance.

Smyth, £22 is a lot of money to me! as I dont earn a lot of money and that money could be better used on much better things.

Ospreywatcher, yeah the money is for cancellation of the policy as I paid my policy in full when I took it out last year.

As far as I'm concerned, I've PAID for insurance upto the end of September, so wont be needing the next three months of what I've paid for so they should be giving me those three months worth of money back since they have it already ...and should not be asking me for money!

 

[Beevee]

I agree with you. If you have paid to insure your car until the end of September. You should have a refund unless the refund is £33 in which case they have already adjusted the cancellation fee to account for the refund. Edited by: Beevee