automatic renewal of insurance and cancelation

[anonymous-user]

what is the rule regarding the '2 weeks cooling off period' with insurance?
it would be extremely handy if i allowed my insurance to automatically renew for a couple of days before i cancel under the credit card rule thing.... what is the correct term for that 2 week rule and are there any legal probs with it ?

cheers

francis

[7db]

It might well be a consequence of the distance selling regulations. You will likely be required to pay a pro-rata portion of the insurance cover for the time, and that might include an admin fee for set-up (mine does) -- check your existing contract carefully.

[anonymous-user]

7db said:

It might well be a consequence of the distance selling regulations. You will likely be required to pay a pro-rata portion of the insurance cover for the time,

yep thats how i understand it

7db said:

and that might include an admin fee for set-up (mine does)

good point thanks ill check that


has anyone actually done it ?

>> Edited by francisb on Monday 15th May 14:58

[jasandjules]

If the insurance automatically renews, then they are attempting to enforce a second contract on the back of the first one. Silence of an agreement does not mean acceptance of an agreement so essentially those insurance policies are voidable.

In other words, if you "notice" a few weeks later, say when your credit card bill comes in, then you can cancel the policy.