Admiral multi car insurance policy?

 

Don't make me laugh.

 

£2100 for the entire fleet here.

 

Got it down to just under £1000 through various other companies, but as stated up there ^^^^ they now want a mere £25 to cancel the multicar policy.

Bargain now it seems.

 

My advice?

Shop around if you've got the time and patience   ALWAYS ask for cancellation fee costs, and also ALWAYS TELL them that you DO NOT want automatic debit card renewal payments, as it seems that if you don't tell them, they'll simply assume you do.

 

I also  told them that i do NOT want my number being sold or passed on to third parties for marketing purposes.

Edited 26 July, 201411 yr by Mr Ree

I'm sure they cannot charge if you don't renew, as the contract will have ended and is a new contract.

I'd take an insurer straight to the ombudsman if they tried to pull that stunt simply because their renewal wasn't competitive

I'm sure they cannot charge if you don't renew, as the contract will have ended and is a new contract.

I'd take an insurer straight to the ombudsman if they tried to pull that stunt simply because their renewal wasn't competitive

Well I don't know.

 

P'raps I'd rattled her cage by suggesting that if I sell my car between now and renewal date, It'd be cheaper for me to simply not tell them, as illegal as that apparently is.

 

Minefield as i say, and them reading as fast as poss from a script parrot fashion doesn't help, presumably so they can get as quickly as poss  to the next lamb for slaughtering? 

Edited 27 July, 201411 yr by Mr Ree

I'm sure they cannot charge if you don't renew, as the contract will have ended and is a new contract.

I'd take an insurer straight to the ombudsman if they tried to pull that stunt simply because their renewal wasn't competitive

 

I'm sure they cannot charge if you don't renew, as the contract will have ended and is a new contract.

I'd take an insurer straight to the ombudsman if they tried to pull that stunt simply because their renewal wasn't competitive

 

Well that's the stunt Admiral have pulled on me.....so they think. 

 

Wonder if they'll actually bother and pursue me for a £25 cancellation because they were 'far too dear at renewal fee?

Ask the excellent folk on money saving expert forums, but I'm fairly confident they can't levy a cancellation charge for a renewal you decide not to go ahead with, or during the legal 14 day cooling off period

As you say, the renewal is a separate, fresh contract. Be careful of auto-renewal in terms of dates. Your first payment on DD should come out after the actual renewal date. If, before the renewal date, you notify the broker/insurer of your intention to lapse the policy at renewal you shouldn't incur a cancellation charge.

What are the short term rates referred to in post #9?

 

 

I know it's in T & C, but perhaps writing to the broker as a formal complaint, before referring the matter to the relevant ombudsman might hel .with subject of complaint as the cancellation charges. Then ,there's the matter of the other policy - do they want repear business from you after renewal .

BUT the main warning here is that  when looking on line for a comparison quote, if paying monthly, look at NOT the premium, but the total  after interest. I always find that those quoting least, charge more for credit. Sometimes taking a higher premium  means less overall cost .

Looking at the breakdown,most decent firms give you a courtesy car free, or if it's not your fault, an accident management company will sort that out.  . Don't really like this, but if cost cutting leads to extra customer charges, then perhaps a few high up might get the message, that they should lok after customers.

 

Sorry, digging out papers relating specifically to this tells me the following;

 

Provided no claims have been made in the current Period of Insurance You will be charged for the time You have had insurance cover based on the short period rates as shown below.

 

Cancellation scale

Period not exceeding                                         Refund

 

15 days                                                             75%

1 month                                                             70%

2 months                                                           60%

3 months                                                           50%

4 months                                                           40%

5 months                                                           35%

6 months                                                           30%

7 months                                                           20%

8 months                                                           10%

over 8 months                                                   Nil

 

 

However, I have now found an electronic copy of Sheilas Wheels Brokers terms and conditions.......

 

"If you decide to cancel your policy at any time after the cooling off period, any refund of premium will be subject to our and the insurers charges. If you pay by instalments, you will be required to pay us or our third party credit provider the full outstanding balance"

 

That appears to be that then. Apologies for wasting time folks. Looks like I'm goosed, and an expensive lesson has been taught.

When I've got a day to spare, I'm going to ring all of my providers to clarify this cancellation rip off fee once and for all.

They do NOT actually do anything for the fee you have to pay, apart from pressing of the delete button, so it IS a rip off...again. 

 

Buyer BEWARE for now

When I've got a day to spare, I'm going to ring all of my providers to clarify this cancellation rip off fee once and for all.

They do NOT actually do anything for the fee you have to pay, apart from pressing of the delete button, so it IS a rip off...again.

Buyer BEWARE for now

Always tell them you don't want automatic renewal, which can be the default (insurance companies are allowed to do this as they successfully claimed it is in your interest, as if you forget you won't become uninsured). You often get better rates too.

If you pay by installments, make sure that cancellation rates are pro rata and you know the admin fee.