I made enquiries about cancelling my policy part way through a year at the end of last month (September) as you could not get close to other quotes on the new car I was about to buy.

At that point I was quoted £129 refund and advised this would change by the day which is fair enough.

Today I cancelled my policy and was told £85 refund.

£54 difference in just over a month on a policy that was about £200 a year initially!

That deserves an explanation which I couldn't get over the phone today.

Hi KBPhoto,

 

It seems the message is not complete, if you could PM me details of the query I can try and help.

Kind regards,
Dan.

This has now been dealt with by your team and an explanation given, even if not totally agreeable.

 

When the policy was cancelled with effect from 31/10/2014, your insurer allowed a refund of £137.34. As per above, our commission of 20% calculated at £25.91, and after deducting our £25.00 cancellation fee, the refund due to yourself was £85.92.

 

37% of the refund amount taken in fees.

 

c.25% of the original policy value retained in fees.

 

And all because this policy couldn't be transferred to the next vehicle and because your best quote on the next vehicle was more than double what I had been quoted elsewhere (and that was far from the cheapest quote I had).