Cancelling an Isurance Policy
Discussion
I organised a new policy (on line) for my Stepfather (83yrs old) 10 days ago and he paid in full using his debit card. It doesn't start till the 24th Feb when his old one expires, but unfortunately he blacked out last week and ended up in hospital (still there). Doctor has told him he won't be driving for quite some time, if indeed he is allowed to drive again. He's now decided to sell his car so obviously does not require the insurance. I have E-mail the insurer informing them of the above, so my question is; will there be an admin charge for cancellation and is it normal to have a 14 day cooling off period. Can't check his new policy as he's still in hospital.
The 14 day cooling off period is a right to cancel. It's not a right to cancl for free with no consequences - the insurer has a right to charge a reasonable admin fee to cover the cost of setting up and cancelling the policy (ncluding things like non-refundable commissions paid to comparison sites.
Outside the 14 day period you have no statutory right to cancel at all, though most insurers will let you do so, just on more onerous terms.
That's the legal,position anyway. In practice if he's with ome of he better insurers then in light of the circumstances hopefully they'll waive the fee - though they don't have to, so you're largely dependent on their better mature.
Outside the 14 day period you have no statutory right to cancel at all, though most insurers will let you do so, just on more onerous terms.
That's the legal,position anyway. In practice if he's with ome of he better insurers then in light of the circumstances hopefully they'll waive the fee - though they don't have to, so you're largely dependent on their better mature.
Thanks for replies. I'll await the return E mail and see what they say,. Real reason for my thread was trying to gauge if they would charge him an admin fee, so presently a 50/50 chance. Not sure he will continue to insure it once SORN'd, its value is low and he keeps it in a private locked (large gates) compound.
As mentioned above I'm not sure what your getting at
My Son is presently serving in Iraq and his car has been SORN'd for the last six months with no insurance on it.
Edited to say, I have no idea what GPWM stands for.
Forget my last I've just googled it, maybe should of done that first
My Son is presently serving in Iraq and his car has been SORN'd for the last six months with no insurance on it.Edited to say, I have no idea what GPWM stands for.
Edited by tony wright on Sunday 19th February 18:07
Forget my last I've just googled it, maybe should of done that first
Edited by tony wright on Sunday 19th February 18:11
Skyrat said:
Having read my policy T&Cs at the start of a new policy, there was indeed a mention of an admin charge for cancelling, even within the cooling off period. The f
king sharks get you every way they can.
They've issued a policy and will have to cancel it. It's cost them time and money. A reasonable admin fee seems entirely reasonable. You think they are sharks because they aren't running a charity?king sharks get you every way they can. I thought the insurance companies had a mitigating circumstances policy in place, so something like this they might just cancel and wave the fee as they don't want to lose rep by charging... Especially since this is not a case of buyers remorse that has resulted in the cancellation needing to go forward, plus the policy has not even started.
Give them a shove and they can waive the admin charge, we have just managed the same with esure, decided to sell one of the fleet to be replaced on March 1st, sold quicker than expected so when we cancelled they said no option to hold it until march (two week limit so they say) anyway wife speaks to them yesterday and the old car now gone for 9 days is still insured by us 
erm no we cancelled it!!! few minutes later we get a figure which doesnt seem true, when questioned he waived the £65 admin fee for the cockup.
erm no we cancelled it!!! few minutes later we get a figure which doesnt seem true, when questioned he waived the £65 admin fee for the cockup. Update. Collected Stepfather from hospital today and when home rang the insurance company. Spoke to a very helpful lady called Shona and within a minute or two everything was cancelled and all admin charges waived
. He will recieve a full refund within the next five days, so a big thank you to Provident insurance.
. He will recieve a full refund within the next five days, so a big thank you to Provident insurance.Aretnap said:
The 14 day cooling off period is a right to cancel. It's not a right to cancl for free with no consequences - the insurer has a right to charge a reasonable admin fee to cover the cost of setting up and cancelling the policy (ncluding things like non-refundable commissions paid to comparison sites.
Outside the 14 day period you have no statutory right to cancel at all, though most insurers will let you do so, just on more onerous terms.
That's the legal,position anyway. In practice if he's with ome of he better insurers then in light of the circumstances hopefully they'll waive the fee - though they don't have to, so you're largely dependent on their better mature.
Is that so? you don't have a right to cancel. That's a bit scary, without the the ability to cancel, you are in some ways prevented from selling your car, given that the next owner may not insure it, so your policy remains in place - albeit with you in breach of contract.... I guess is this a legal hypothetical? Outside the 14 day period you have no statutory right to cancel at all, though most insurers will let you do so, just on more onerous terms.
That's the legal,position anyway. In practice if he's with ome of he better insurers then in light of the circumstances hopefully they'll waive the fee - though they don't have to, so you're largely dependent on their better mature.
OverSteery said:
Is that so? you don't have a right to cancel. That's a bit scary, without the the ability to cancel, you are in some ways prevented from selling your car, given that the next owner may not insure it, so your policy remains in place - albeit with you in breach of contract.... I guess is this a legal hypothetical?
??? You can cancel a policy at any time, for a fee. If you sell your car and inform the insurer that it is sold and cancel your policy (or transfer it to a new vehicle) your insurance policy details will be removed against the old car from MID. Your insurance does not continue on the car you have sold.OverSteery said:
Aretnap said:
The 14 day cooling off period is a right to cancel. It's not a right to cancl for free with no consequences - the insurer has a right to charge a reasonable admin fee to cover the cost of setting up and cancelling the policy (ncluding things like non-refundable commissions paid to comparison sites.
Outside the 14 day period you have no statutory right to cancel at all, though most insurers will let you do so, just on more onerous terms.
That's the legal,position anyway. In practice if he's with ome of he better insurers then in light of the circumstances hopefully they'll waive the fee - though they don't have to, so you're largely dependent on their better mature.
Is that so? you don't have a right to cancel. That's a bit scary, without the the ability to cancel, you are in some ways prevented from selling your car, given that the next owner may not insure it, so your policy remains in place - albeit with you in breach of contract.... I guess is this a legal hypothetical? Outside the 14 day period you have no statutory right to cancel at all, though most insurers will let you do so, just on more onerous terms.
That's the legal,position anyway. In practice if he's with ome of he better insurers then in light of the circumstances hopefully they'll waive the fee - though they don't have to, so you're largely dependent on their better mature.
Gavia said:
OverSteery said:
Aretnap said:
The 14 day cooling off period is a right to cancel. It's not a right to cancl for free with no consequences - the insurer has a right to charge a reasonable admin fee to cover the cost of setting up and cancelling the policy (ncluding things like non-refundable commissions paid to comparison sites.
Outside the 14 day period you have no statutory right to cancel at all, though most insurers will let you do so, just on more onerous terms.
That's the legal,position anyway. In practice if he's with ome of he better insurers then in light of the circumstances hopefully they'll waive the fee - though they don't have to, so you're largely dependent on their better mature.
Is that so? you don't have a right to cancel. That's a bit scary, without the the ability to cancel, you are in some ways prevented from selling your car, given that the next owner may not insure it, so your policy remains in place - albeit with you in breach of contract.... I guess is this a legal hypothetical? Outside the 14 day period you have no statutory right to cancel at all, though most insurers will let you do so, just on more onerous terms.
That's the legal,position anyway. In practice if he's with ome of he better insurers then in light of the circumstances hopefully they'll waive the fee - though they don't have to, so you're largely dependent on their better mature.
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