The following are facts, not conjecture and happened an hour ago so pretty much fresh and I'm typing this VERY Hard.
It concerns an insurance company that I will call S and I'm sure the term of the policy is 12 months.
OK so I needed to insure my 35 year old Porsche for limited miles (1,000) as I only use it for about 2 months a year, when we are not charging round Europe in our 5er. S offered £128 under a classic insurance took it out in October 2010. A few days later remembered that I had not included SWMBO, “That will be an aditional £70”. £35 for cover, £35 admin fees. A month later I informed them I would be keeping it in a garage instead of on the drive, guess what, £35.
Son's Yaris broke fataly so I decided to transfer ownership to him. Charge from Tesco insurance inc. me and 'er as named drivers, £37.
Phoned S to cancel and I owe them £12! £49.95 arrangement fee payback?, Good old £35 admin, and 20% of the premium in cancellation fees. So they now have no liability for the next 7 months and I have to pay them for the privilege!
They told me that I had agreed all this when I took out the policy, yes we all read the T&C's diligently (er...no, because are you going to argue them?).
So they are perfectly legal in doing this but I would suggest morally corrupt?
I told them to just leave the policy as is and he said it is illegal to have two policies on the same car, from reading on the internet this is not so, providing two clams are not made and the insurance of the driver concerned takes priority? Yes, No?
JK
It concerns an insurance company that I will call S and I'm sure the term of the policy is 12 months.
OK so I needed to insure my 35 year old Porsche for limited miles (1,000) as I only use it for about 2 months a year, when we are not charging round Europe in our 5er. S offered £128 under a classic insurance took it out in October 2010. A few days later remembered that I had not included SWMBO, “That will be an aditional £70”. £35 for cover, £35 admin fees. A month later I informed them I would be keeping it in a garage instead of on the drive, guess what, £35.
Son's Yaris broke fataly so I decided to transfer ownership to him. Charge from Tesco insurance inc. me and 'er as named drivers, £37.
Phoned S to cancel and I owe them £12! £49.95 arrangement fee payback?, Good old £35 admin, and 20% of the premium in cancellation fees. So they now have no liability for the next 7 months and I have to pay them for the privilege!
They told me that I had agreed all this when I took out the policy, yes we all read the T&C's diligently (er...no, because are you going to argue them?).
So they are perfectly legal in doing this but I would suggest morally corrupt?
I told them to just leave the policy as is and he said it is illegal to have two policies on the same car, from reading on the internet this is not so, providing two clams are not made and the insurance of the driver concerned takes priority? Yes, No?
JK