Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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This possibly varies from insurer to insurer, and I'm struggling to find information out from the Tesco website.
If you were to sell your car say... 9 months into a 12month policy, can you simply cancel the policy and not pay the remaining three months?
Obviously the usual procedure is to sell your car, then buy a new one and update your policy whilst your insurance provider reviews the remaining repayments to compensate. If the existing insurer were quoting something extortionate, is the customer free to cancel and find a new policy elsewhere?
Lotus Elise 111R
Impreza WRX STi
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sand-eel
Member
Registered: 15th Mar 07
Location: carluke/braidwood--IRNBRULAND
User status: Offline
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You can cancel any insurance policy anytime, they will prob charge you a £20-30 odd adim fee though.
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sand-eel
Member
Registered: 15th Mar 07
Location: carluke/braidwood--IRNBRULAND
User status: Offline
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Mike
Organiser: North West and North Wales
Premium Member
Registered: 20th May 06
Location: nr. Skipton, North Yorkshire
User status: Offline
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As you say, depends on the insurer.
I cancelled a policy 6 months in and got the remainder of the current month refunded whereas my Dad cancelled a policy a few years back and they tried to charge a £360 fee  although he just cancelled the direct debit and ignored all the demand letters, which eventually stopped after them dropping the fee down incrementaly to £90.
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Pop
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Registered: 8th May 03
Location: Reading
User status: Offline
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Ring them up and they will be able to tell you exactly what you need to know.
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GTM
Member
Registered: 24th Nov 08
Location: Kingswinford, West Midlands
User status: Offline
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I had a game the other day, been given a company car so put my mondeo up for sale. Called the insurance and they said there is a £30 cancellation fee but even with that taken out we owe you £35! Bonus wasnt expecting any money but was ready for a charge.
Woman ran through my details and my address was wrong, i live at 43 but she had 47 on file. I checked and everything they have ever sent me including e-mails have had the address 43 on yet they said well thats a fault at my end!! Then i was informed id have to pay £30 to change my address and then and additional £30 to cancel again, so they wanted £90!
So id gone from been owed £35 to owing £90 to them. Argued the toss and in the end after what seemed like forever they agreed to just give me the £35 and drop the fees. Fucking idiots.
[Edited on 17-10-2011 by GTM]
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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As long as you haven't claimed I'd have thought you could cancel it, but as said might involve an Admin fee.
You will lose the NCB you have built up though.
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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quote:
Originally posted by deano87
You will lose the NCB you have built up though.
Ah that is a good point!
Even with 7 years NCB, the eighth is still worth quite a bit come renewal time!!
Lotus Elise 111R
Impreza WRX STi
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