Cancelling an insurance policy - £50 before it even starts

[FunBusMk2]

I've just bought a buildings and contents insurance policy through Swinton, called my existing insurer back to cancel the renewal and they did no more than suddenly better the renewal more than they had when I tried before. Called Swinton back and it's going to cost me £50 to cancel. This was within an hour of buying it and the policy is due to start on Friday.

Now, it's in their T&C's so they've not hidden it, but I've never come across this before and I'm always one of those who looks out for little things like this.

Sadly for Swinton the attitude taken when I used the word 'cancel' was so poor, I think they can have their £50 as I'm concerned about how they'd be if I were to need to claim.

[PurpleMoonlight]

You have a 14 day cooling off period, but they have the right to charge a reasonable admin fee if you cancel.

What is reasonable?

[The Leaper]

The Distance Selling Regulations, which should apply to your purchase, give you 14 days' cooling off period. The supplier can make a reasonable administration charge. So, you need to know how the £50 is defined and do you think it can be considered to be reasonable? Looks like the supplier probably has cancellation covered unfortunately.

R.

[jeevescat]

A while back I was presented with a £135 cancellation fee for a Swinton car policy, which lead to letters from a collection agency 7 days after it was requested. I wrote politely asking for the justification of the charge and never heard anything back.

[FunBusMk2]

Fully get the entitlement - its in their T&C's clearly. I just don't think it's reasonable at all, but then everyone's opinion of reasonable is different.