Greenlight (interesting)

[Fred@BTM]

i phoned them today to cancel my insurance policy on my V6

i payed £1500 in full when i started the policy

now my policy expires in 5months (10th on june)


now the interesting part!!!

guess how much money i get back if i cancel it now????? a WHOPPING £250 approx! (with 5months left on the policy) how does that work then!

i'll await Neil's answer

 

[CJ]

It's the same with highway, they weight the payments for the beginning of the policy.

 

[Fred@BTM]

seems rubbish to me!

£1500 divide by 12months = £125 per month

£125 x 5months = £625

its not rocket science!

 

[Craig]

robbing buggers methinks

 

[Maz]

Highway were the reason I never went with Greenlight they are gash or were with me when I had my accident

 

[clioruss]

but insurance dont always work like that, just take holidays for example, the closer you get to going on holiday the less you get back if you cancel the closer you get, all the way to leave within 7 days and cancel loose 100%. and the likes of after a writeoff what they recon the will pay out, it is just they are all t***s and just after getting rich, it is sad to here that, it is lot of pennies to be loosing, check the documents, if it is unclear go to citizens advice and ask them for help. tell them you was misled

 

[Fred@BTM]

can't i just sue them?? doesn't seem right of fair IMO

 

[Maz]

pmsl I dont think so Fred ..

 

[Fred@BTM]

what if i was paying monthly??? i could've just stopped the payents?

 

[edde]

Thats the way it is. I'm suprised you get that much should see what adrain flux give you back you'd be lucky to get a penny after this long.

 

[edde]

seems rubbish to me!

£1500 divide by 12months = £125 per month

£125 x 5months = £625

its not rocket science!

Minus initial fee for them.

Neil did a post a while back after someone companied and explained it all.

 

[Peperami]

When you direct debit it though, isnt the first month a double payment? and then they probably charge a months cancellation fee.

 

[CJ]

And probably pay interest on it.

 

[edde]

can't i just sue them?? doesn't seem right of fair IMO

Lifes not fair. You agreed to there terms if you paid monthy you'd be in the same postiton its just you'd have financed it over a long period

what if i was paying monthly??? i could've just stopped the payents?

You signed into an agreement check the small print.

 

[Liverpool_Nick]

If banks cant get away with charging you £30 for going 3p overdrawn i dont think insurers can justify a £100+ admin fee!

Greenlight are only a broker so it wont be them who have your cash it will be the underwriter who is covering you.IMO

 

[Mike_182]

If banks cant get away with charging you £30 for going 3p overdrawn i dont think insurers can justify a £100+ admin fee!

Mine keep trying! Next time I'm not going to threaten to leave though, I'll just do it. You'll have to forgive me as I'm not racist but I'm sick of calling Sanjay in India to try and sort anything with my bank out - because my branch open and half ten and close at half three - I struggle because if you say anything that isn't in their call script and they get confused.

UKTVG2 repeat of Top Gear summed it up - tried to be 'quoted happy' on a Bugatti Veyron only to be asked by Sanjay if it was a Rover.

It doesn't work. Stop it.

 

[john182rs]

So who is the better insurance company to go for then?
I was just thinking of swapping over to greenlight but slightly unsure now...

 

[Mike_182]

So who is the better insurance company to go for then?
I was just thinking of swapping over to greenlight but slightly unsure now...

In the nicest way possible to all the people that work for these places, they are all a bunch of robbing scrotes, they're just above the law. They write terms and conditions knowing you won't read 90% of them and catch you out for every last penny they can take off you. What you gain in a cheap insurer, you generally lose in quality of service, getting your money back if you cancel policy and general treatment.

All you can do is damage limitation - keep shopping until you find one that suits you and read as much of the paperwork as you can until your brain dribbles out of your ears from boredom.

 

[Cookie]

So who is the better insurance company to go for then?
I was just thinking of swapping over to greenlight but slightly unsure now...

They're fine. They sorted out a computer based c**k up for me over Xmas (Search for the thread in this forum started by me) which was greatly appreciated.

All insurance companies work like this.. you sign a contract with them whereby you agree to their terms.

 

[Neil@greenlight]

i phoned them today to cancel my insurance policy on my V6

i payed £1500 in full when i started the policy

now my policy expires in 5months (10th on june)


now the interesting part!!!

guess how much money i get back if i cancel it now????? a WHOPPING £250 approx! (with 5months left on the policy) how does that work then!

i'll await Neil's answer

We only sell 12 months policies and don't offer short term insurance therefore if you cancel mid policy the insurer usuallly apply short term cancellation rates.

Highway offer a pro-rata from renewal onwards but if its your first year with them its cancelled on short period basis.

The cancellation charges are all clearly detailed in the policy booklet and our supporting paperwork sent to you at the start of the policy, you get a 14 day cooling off period to cease the policy if you were not happy with the cancellation scale or any other part of the insurance but you signed the paperwork and sent it back to us to accept the policy.

If you had of made us aware you were going to cancel the policy mid term in the first year we would of advised you not to take out the cover as it creates more work for us in the long run.

Greenlight get paid a commission by the insurer for placing the business originally and processing the policy. We don't get a kick back or earn any extra commission on cancellations so we are doing a lot more work without earning any extra money.....We do reserve the right to retain a £25 out of the insurer refund as an admin charge on cancellations to reflect the extra work involved but i think in this case we waived the fee.

Best Regards
Neil
Greenlight

 

[edde]

In the nicest way possible to all the people that work for these places, they are all a bunch of robbing scrotes, they're just above the law. They write terms and conditions knowing you won't read 90% of them and catch you out for every last penny they can take off you. What you gain in a cheap insurer, you generally lose in quality of service, getting your money back if you cancel policy and general treatment.

Did Renault/the agrage or last ower of your car iinform you that are now a potential mass killer? You are.

If you don't read something how can it be there problem? The governement are't going to protect you againt your own gulliblenes/feeling that everyone a saint.

 

[Fred@BTM]

cheers for the reply neil

i never read anything LOL, but still

anyway (no offense here) but insurance companies in the uk do take the piss compared to the rest of the world

i'm moving countries

 

[H182]

I was with norwich union through endsleigh and my premium was £770. Canceled it after 4months and got £411 back (£50 cancelation charge) Seems like I was quite lucky.

 

[Fred@BTM]

zurich, refunded me, flux refunded me

i guess greenlight are different

 

[cK]

When I had my 200sx I paid around £1400 with flux. After 30 days I cancelled the policy as they would not do a good deal at all on a 306 diesel that I was getting at the time.

I got back £1096 !!!

 

[Fred@BTM]

at least its not (approx) £250, i might aswell keep the policy for ANOTHER 5months and take the 1year NCB

but you can't have a car insured on 2 policies IIRC?

 

[Justin_16vT]

yeah i think thats called fraud. lol

 

[Fred@BTM]

well at least its not robbery of the daylight kind!

 

[john182rs]

so my quote for £655 on a 182 ff with full exhaust and IK tints and lights is good considering im 24 an been driving 30 months an got 2 years ncd an live in a rough estate in nottingham?