Canceling Insurance when paid in full...

[dailyd]

Hi, my insurance runs out in Feb, and I wish to pay in full to save the extra they bump on for the privilege of paying it monthly, but the thing is I dont think I will still have my lil brum brum for another year, how easy will it be to cancel an get the rest of the money back ? Will they charge me etc ? Not sure of the company because I have no quotes yet but I think it will be one of the big players like direct line or Churchill, thanks

 

[Lunner]

Piss easy, they will simply refund you the money back that hasnt been used effictivly.

If you plan to change car they will simply change ur policy and you pay/get refunded the difference.

I canceled my first insurence policy (wiht direct line) after a few months, when i found out the b******s wouldnt insure me wiht mods

 

[dailyd]

Cheers dude, sounds simple, will let you know how it goes.

 

[edde]

Be very carful some companies give you very little back (Adrian flux/Highway are like this) most of them charge an administration fee which can account for a month of your cover anyway.

 

[dailyd]

Right thanks guys, will ring around late Jan.

 

[DAVE_RSi]

anyone know any more on this

a mates policy started yesterday with churchill, he now wants to buy my car, but they wont allowmods, can he get a full refund?

 

[msa197]

Look on the back of your policy their should be some information on this.

 

[badinvincible]

Quote: Originally posted by DAVE_RSi on 26 May 2005


anyone know any more on this

a mates policy started yesterday with churchill, he now wants to buy my car, but they wont allowmods, can he get a full refund?

If he was to cancel, he would receive a refund for the difference dependant on how long is left on the policy.

£1200 for years policy, cancel halfway, £600 refund in theory, but expect a hefty admin fee with some companies.

Thats just a very rough example by the way.

 

[Rick]

I think with my insurance (through Admiral) you can cancel within a week or two for a full refund (assuming you havent made a claim). I may be getting my wires crossed but Im pretty sure thats right. You may find that Churchill do the same thing?

On the subject of cancelling after a few months, its like Badinvincible (muthafukca!) says. If you cancel half way through, you wont get half the money back

 

[Djw John]

Ricks right I think you do get a cooling off period after buying insurance so if its only a day or 2 he should get his money back but check the small print.