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Insurance companies!!!

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Insurance companies!!!

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Meski

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Aug 31, 2013
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I've always been on the 'lets find the cheapest' side of the fence to be honest.

Last year I ended up swapping to the RAC. I phoned up today to cancel it as I've sold my old car and won't have one for a couple months while I'm waiting for my 500 to turn up and the sheisters charged me over £70 of doing it!!! Not impressed, and I certainly won't be going back to them for insurance when I get the new car.
 
Any idea what other companies would have charged for cancelling a policy mid-term?

I take it you read their terms and conditions before calling them? :D
 
Meski said:
I've always been on the 'lets find the cheapest' side of the fence to be honest.

Last year I ended up swapping to the RAC. I phoned up today to cancel it as I've sold my old car and won't have one for a couple months while I'm waiting for my 500 to turn up and the sheisters charged me over £70 of doing it!!! Not impressed, and I certainly won't be going back to them for insurance when I get the new car.
Click to expand...

Did you not read the small print when taking it out?

Stu DemonD said:
Any idea what other companies would have charged for cancelling a policy mid-term?
Click to expand...

:yeahthat:

Some will be a lot more, some less.

Do you pay monthly? If so, of that £70 what was admin, and what was cover on a prorata basis?

Do RAC prorata their cancellations, or are they one of these ones who do cancellations on a sliding basis - IE insured for 1 only 75% is refunded, insured for 2 months and only 60% is refunded etc until you get to 8-9 months and a cancellation results in no refund.
 
This was the second year with them, it was renewed in may. To be fair that part wouldn't have bothered me as I didn't foresee being without a car at all so it wouldn't have been an issue.

I've been paying about £22 a month since may, they charged a £55 cancellation fee and then threw on another months premium!!!
 
Meski said:
This was the second year with them, it was renewed in may. To be fair that part wouldn't have bothered me as I didn't foresee being without a car at all so it wouldn't have been an issue.

I've been paying about £22 a month since may, they charged a £55 cancellation fee and then threw on another months premium!!!
Click to expand...

£55 to cancel isn't abnormally large, but not the cheapest.

THey've charged a further £15, which sounds like payment for cover if your payment have been in arrears (what was the original start date, and what day did your payments come out of your account?).
 
They are all at it. I insured my mk2 Punto in Jul. Asked for change to brand new panda. £25 admin fee and a small increase in premium pcm £5. Shheeesh
 
Most Easterly Pandas said:
Minimal increase in premium to insure a car thats about £6k+ instead of £1500 and you're moaning. :rolleyes:
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In wanted it changed over for free. It doesn't cost them anything. All docs are emailed. Lloyds insurance. We bank with them and I insured wife's car with them too so yes I wanted it for free :D
 
Most Easterly Pandas said:
£55 to cancel isn't abnormally large, but not the cheapest.

THey've charged a further £15, which sounds like payment for cover if your payment have been in arrears (what was the original start date, and what day did your payments come out of your account?).
Click to expand...

I expected some fee, but I don't know of many businesses that work in arrears even when they are just offering a service. That was more of the shock!
 
Bigredbus4468 said:
In wanted it changed over for free. It doesn't cost them anything. All docs are emailed. Lloyds insurance. We bank with them and I insured wife's car with them too so yes I wanted it for free :D
Click to expand...

So you done it over the phone? Over heads of the phone lines and staff isn't £0. In addition to this the MID had to be updated.

You're insured through a broker, not a direct insurance company, they make their money through admin charges, this has always been the case and is well known.
 
Meski said:
but I don't know of many businesses that work in arrears even when they are just offering a service.
Click to expand...

Any insurance company is working like this if your monthly payment doesn't come out on the monthly anniversary of the policy start.

If your policy started on the 5th September and you say you want to pay on 15th every month then your policy will be 10day in arrears. Obviously however if you pay on the 5th every month then you won't be in arrears.
 
Ahh well. It's all done and dusted now. Just looking forward to the new car turning up, I can see the train commute getting very old very quickly!!! :)
 
dombooth said:
Eh?

I work in IT, so you'd like me to install you a piece of software you provide for free because it doesn't cost me anything? Hmm, no chance.

Dom
Click to expand...

Perhaps you all missed the smiley faces at the end of my posts. And since when do you have to be an it tech to install software :banghead:
 
I didn't have to pay an admin fee with admiral when we change the insurance over to the new mini from our punto however thinking about it this was a multicar policy so they cancelled the old car, and effectively added a new car.

After all the hassle of admiral and their renewal quote I can honestly say it doesn't pay to be cheap
 
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