Watch out for cancellation charges - rip off

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Tricky401
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Watch out for cancellation charges - rip off

Post by Tricky401 » Mon Nov 18, 2019 6:59 pm

Had to cancel my policy today as they will not insure my new car

Paid in full for the year in June, refund issued after I filled in a cancellation form which still hasn’t arrived via email

Refund cost is minus 12.5% charge, then £50 cancellation fee then another 16.5% off that

Insurance cost for 12months just over £700, refund after 5 months £230. Awful

Also asked me after selling my car yesterday if I’d like to keep the insurance on it going until I get a new car..... why would I?
M135 gone - all parts for sale

X3M comp inbound

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Ezzra
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Re: Watch out for cancellation charges - rip off

Post by Ezzra » Mon Nov 18, 2019 7:11 pm

I'm ambivalent here. You entered a twelve month contract. You want to break that contract early. I'd have charged you more :)
"You cannot sedate, all that you hate".

Mr Whippy
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Re: Watch out for cancellation charges - rip off

Post by Mr Whippy » Mon Nov 18, 2019 7:14 pm

Pay less ~ worse customer benefits.

This is where they ‘make their money’ so to speak.
130i LE - exhaust flap mod - ssk & bmwp & M3 gbox mounts - bmwp handbrake - bmwp steering surround - camber pin mod - cdv delete - koni SA & bmwp front bump & koni rear bump

ASB1960
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Re: Watch out for cancellation charges - rip off

Post by ASB1960 » Mon Nov 18, 2019 8:04 pm

Your policy should detail the companys charges in the event of cancellation (more often than not it is pro-rata plus an admin fee).

If the charges you are paying are different the obvious question is why (there may well be something in the agreement you signed with the broker).
M135i 3 door, auto, mineral grey/oyster - black, bus nav, black panel, adaptive, driver comfort. Arrived 24th June 2014.

Octavius
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Re: Watch out for cancellation charges - rip off

Post by Octavius » Mon Nov 18, 2019 9:46 pm

Small print springs to mind.

Bit of of a bugger though the amount they charged.
2018 Glacier Silver 320d lci M Sport.

50pence
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Re: Watch out for cancellation charges - rip off

Post by 50pence » Tue Nov 19, 2019 10:08 am

Would have thought that as they will not insure your new car, they'd be more reasonable on the cancellation fees.

Why won't they insure the new car?
F20 M135i LCi, auto, adaptive suspension, adaptive LED h/l + HB assist, h/seats, c/pack, elec folding mirrors etc
F55 Mini Cooper, man, LED h/l + HB assist, h/seats, head-up display, active cruise, XL nav, elec folding mirrors etc

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