Reply With QuoteBut what an initial price you got!!! As a % it’s a lot.Originally Posted by Barryboy
Beware of motor insurance policy cancellation costs… Just a word to the wise, here… On 22nd June 2020 I took out a 12 month motor policy at a cost of £93.00 with One Call Insurance – yes, I know it’s low but I’m old and I have a lot of no claims bonus… I sold the vehicle on 5th June 2021 and notified them that I would not be replacing the vehicle. I’ve been told that there will be no refund for the unused time (which I accept – that’s fair enough) but I have to pay £55.99 for a cancellation fee – this figure (of course) being non-negotiable. This to me is outrageous, but when they have you bent over….
Rob
But what an initial price you got!!! As a % it’s a lot.
Why didn't you just let it run out?
If only you'd sold it 16 days later
This says it all really:
https://www.autoexpress.co.uk/news/3...cellation-fees
Just let it run until end date?
Because he didn't own the car anymore and might have been liable for any claims made against the new owner. It's a gamble but …
Highway robbery, literally.
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That was detailed in the policy documentation that you got at the policy inception.
(I'm surmising that you didn't bother reading the T&C?)
It is a gamble of small likelihood.................................. But - immense possible consequence. There could be a claim of millions and the underwriter will seek to recover as much as they can - from you personally.
the cheapest insurance often have higher cost built in and things missing.
my insurance is about 200 with no points and 20 years no claims and its a 1.4 petrol in a very low crime area.
tax another 210
that and the MOT and im paying 500 a year to keep a 1.4 on the road
We have had insurance through One Call in the past - it is in the T&C's along with charges for changes etc.
When you look long into an abyss, the abyss looks long into you.........
I think normally, this cancellation charge isn’t noticed by most people as their premiums are a lot higher and/or they don’t cancel so close to the end of the term so they don’t have to put their hand in their pocket as it’s absorbed in any pro rata refund.
Bravo for getting such a low premium in the first place!
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