Flaky Insurance Wording

[AceOfHearts]

I called up for a classic policy but it didnt qualify as it was my daily, hence why the premium was so expensive in the first place

[Squishey]

Peter James Insurance said:

Usually in the first 12 months of a policy there is no refund.

The car policy wording currently available from their website has the "...or this insurance has been in force for less than 12 months..." part omitted from the final sentence.

Peter James Car Policy Documents

So it shouldn't be usual.

[Gareth79]

I'd also think that it breaches FCA regulations to give preferential cancellation terms to a renewing customer?

[Gavia]

Gareth79 said:

I'd also think that it breaches FCA regulations to give preferential cancellation terms to a renewing customer?

Why?

[MitchT]

AceOfHearts said:

Usually in the first 12 months of a policy there is no refund.

You can't buy a motor insurance policy for longer than 12 months that I'm aware of. It's deliberately ambiguous wording designed to give them a "get out" for all eventualities. If they mean you have to have had more than 12 months of continuous cover they should spell that out. Good will my arse. Caught with their pants down more like.

[TwigtheWonderkid]

Gareth79 said:

I'd also think that it breaches FCA regulations to give preferential cancellation terms to a renewing customer?

No they don't. Costs are higher in the first 12 months, policy issue etc. You don't get a new policy at renewal, just an updated schedule for the next 12 months. Perfectly acceptable to have more onerous cancellation terms in the first year.

[TwigtheWonderkid]

MitchT said:

You can't buy a motor insurance policy for longer than 12 months that I'm aware of. It's deliberately ambiguous wording designed to give them a "get out" for all eventualities. If they mean you have to have had more than 12 months of continuous cover they should spell that out. Good will my arse. Caught with their pants down more like.

What a load of tinfoil hattery nonsense. It's not ambiguous at all.