# cancelling car insurance policy



## ianFRST (Sep 19, 2006)

policy started on 3.3.14, £38.90 paid as 1st installment
2nd installment taken 3.4.14, £38.90

cancel policy 12.4.14, and told, you will just have to pay for the days used upto cancelling, + a £50 cancel fee.

get an email today, £190!!!!!!! (that will be taken out in the next 5 days) how on earth have they come up with that! :wall:

now, is it me, or she has already paid for april upfront, so they will owe her, not the other way round?

funny the email was sent 4 minutes before they closed at 5pm :wall:

(company in question is 1st central)


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## mick616 (Aug 16, 2013)

ring your bank and tell them to reject any D/D for that company. They tried that with me, was going to take it off my card so I cancelled the card, that was a year ago, never did pay them, robbing barstewards


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## t1mmy (Dec 9, 2006)

Don't cancel the DD, you'll end up with a mess to sort out. Best bet is to ring them tomorrow to find out how they have got to that figure and take it from there.

Out of interest are 1st Central a broker rather than an insurer?


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## t1mmy (Dec 9, 2006)

I've got no idea how they have got to the figure of £190; however, I don't think they will owe her as the cancellation fee is greater than April's instalment.


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## ianFRST (Sep 19, 2006)

after a bit of googling, it looks like all your "add ons" or "extras" you have to pay for.

like legal expenses, break down cover, hire car are all "extras"


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## Chicane (Mar 31, 2011)

I was told by mine that if i cancelled, the insurance company would claw back the comission, or of i cancelled even a few months in, they would charge 50%!


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## Bero (Mar 9, 2008)

Cancelltion terms are something that few people look at.....in the race to the top of the CompareTheMarket.com list era it's one of the ways comapnies can give a low price....but shaft you when you actually want to do something slightly out of the ordinary.

I remember reading Elephants cancellation policy - they charge something like 25 or 50% of the total policy cost if you cancel a day after you're right to cancel has expired.

I imagine they have you over a barrell, but read the Terms and Conditions to see what they say.

Remember insurance is not a pay as you go type product....even if you pay 12 installaments. In reality you buy and pay for the policy the day it starts, then they loan you the money (and charge interest to cover the loan) to finance it over a year.


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