Cancelling insurance
29 January 2002, 01:50 PM
#1
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Sold the Impreza on Saturday so tried to cancel the insurance today. I pay monthly so was rather surprised when the YTS boy on the phone told me that I would have to pay them a £56 time at risk (or something like that) payment. Is this usual and what are they going to do if I refuse? I have cancelled the Direct Debit so I can't see how they are going to get the money.
Other thing is I have full No Claims Bonus and wondered how long this is valid for if I don't have my own policy. I seem to remember 2 years is this correct?
Other thing is I have full No Claims Bonus and wondered how long this is valid for if I don't have my own policy. I seem to remember 2 years is this correct?
31 January 2002, 01:52 PM
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I have only had the policy for 3 months and still have the proof of No claims Discount from my previous insurance.
I sent them back the policy yesterday so if they do want some extra money I am probably going to tell them I refuse to pay it. After all what are they going to do? They will probably send me a threating letter mentioning baylifts but you know as well as I do that they will just write it off.
I sent them back the policy yesterday so if they do want some extra money I am probably going to tell them I refuse to pay it. After all what are they going to do? They will probably send me a threating letter mentioning baylifts but you know as well as I do that they will just write it off.
01 February 2002, 09:24 AM
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Why don't you read the Terms and Conditions of the policy that you signed (i.e. entered into a legal agreement)?
I've no idea whwther the charge is justified but if you agreed to pay it if you cancelled your policy early (again you'll need to read the T&C's), I don't see you've got a leg to stand on.
I'm sure you'd be the first to complain if the boot was on the other foot.
I've no idea whwther the charge is justified but if you agreed to pay it if you cancelled your policy early (again you'll need to read the T&C's), I don't see you've got a leg to stand on.
I'm sure you'd be the first to complain if the boot was on the other foot.
01 February 2002, 10:23 AM
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What read something before I sign it!! nah, can't be bothered with that! ;-)
Anyway I got a letter today saying that they noticed I have cancelled my direct debit and if I want cover to continue I must send them £290. They also said that if I want to cancel the policy I must send them my insurance certificate. Well I sent them the documents back a few days ago so they can sort it out now.
There was no mention of any time on risk payment in the letter but if they do want the £56 then I wish them the very best of luck in getting it.
Anyway I got a letter today saying that they noticed I have cancelled my direct debit and if I want cover to continue I must send them £290. They also said that if I want to cancel the policy I must send them my insurance certificate. Well I sent them the documents back a few days ago so they can sort it out now.
There was no mention of any time on risk payment in the letter but if they do want the £56 then I wish them the very best of luck in getting it.
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