Cancelling car insurance early

[Thaksins Love Child]

Just rang up to cancel my car insurance because I have sold my car. The cover was from May last year. They have told me because the cancellation request has come in after over 9 months then I owe them the full amount which is 2 more payments totalling £275!

Is this correct? Anyone else got any experience with something like this? I've not cancelled insurance early before but thought it just stopped and I might even get a small amount back for the larger 1st payment I made.

Cheers

 

[marco]

i'm affraid so, i had a taxi that got wrote off the insrance on that was £150 p/m ,2 months remaining and i had to pay up

 

[Daveth]

Ring back and try to speak with another person (being as polite and friendly as possible). Been told before I have to pay so much for my sky contract then rang back and got someone else and suddenly the price is halved

 

[The Silver Surfer]

Ring back and try to speak with another person (being as polite and friendly as possible). Been told before I have to pay so much for my sky contract then rang back and got someone else and suddenly the price is halved

Something like this^.

I was told £50 would be charged for a cancellation fee if I went ahead. I went with it but nothing was ever charged. Their staff obviously get performance enhanced pay and will say whatever to get you to stay.

 

[johnny crossan]

Just rang up to cancel my car insurance because I have sold my car. The cover was from May last year. They have told me because the cancellation request has come in after over 9 months then I owe them the full amount which is 2 more payments totalling £275!

Is this correct? Anyone else got any experience with something like this? I've not cancelled insurance early before but thought it just stopped and I might even get a small amount back for the larger 1st payment I made.

Cheers

it's criminal

 

[Thaksins Love Child]

Just rang up to cancel my car insurance because I have sold my car. The cover was from May last year. They have told me because the cancellation request has come in after over 9 months then I owe them the full amount which is 2 more payments totalling £275!

Is this correct? Anyone else got any experience with something like this? I've not cancelled insurance early before but thought it just stopped and I might even get a small amount back for the larger 1st payment I made.

Cheers

it's criminal

I've just read their terms and conditions online about early cancellation and it states:

If you are paying by Direct Debit, you will be required to pay the following percentage of your premium, less any payment already received from you.

1 month’s cover - 25%
2 months’ cover - 35%
3 months’ cover - 45%
4 months’ cover - 55%
5 months’ cover - 65%
6 months’ cover - 75%
7 months’ cover - 85%
8 months’ cover - 95%
9 months’ cover - 100%

I guess I have to pay up, how crap :o(

 

[peoffrey]

I worked at CIS for too many years and we never charged anybody just to cancel the policy. They were only handed a bill if they owed money before the policy was cancelled (i.e. missed a direct debit.) I don't drive so I must admit I'm ignorant to how many companies work - but am surprised you have to pay up.

Shop around next time.

 

[loyalblue2806]

Its a scam, i cancelled insurance early myself and it was paid up to date and ended up getting charged over another £100

 

[cockneycarparkm32]

What is the name of the company ? just to avoid them that is an awful policy .

If you have less than 9 years no claims its worth paying up in full to add another year to your No-claims . If you get my meaning !

 

[daveduke67]

Just rang up to cancel my car insurance because I have sold my car. The cover was from May last year. They have told me because the cancellation request has come in after over 9 months then I owe them the full amount which is 2 more payments totalling £275!

Is this correct? Anyone else got any experience with something like this? I've not cancelled insurance early before but thought it just stopped and I might even get a small amount back for the larger 1st payment I made.

Cheers

Do you really need to cancel it? If you're building up an NCD you'll lose a years worth. Also if you're buying another car before May you can just switch the cover to the new car. I'd just leave it - you're going to have to pay it so just let it run its course - you might as well.
Also it'll mean that your cover runs out in May. I seem to remember that your NCD is valid for two years from the last day of your previous policy - certainly was when I was looking round after I'd had a company car for a few years and wanted cover my own weekend car - my previous eleven years claim free time meant nothing as it was over two years since my personal cover had lapsed.