Just sold a vehicle that I have had for 8 years fully insured and paid for up front in full for the 8 years too with Direct line.

Cancelled the policy and have been told they will charge almost £50 cancellation fees on a fully pre paid policy.

I have 2 other vehicles, house contents &building insurance with them too. Now looking to move else where with all my insurance policies at renewal time :(

Just sold a vehicle that I have had for 8 years fully insured and paid for up front in full for the 8 years too with Direct line.

Cancelled the policy and have been told they will charge almost £50 cancellation fees on a fully pre paid policy.

I have 2 other vehicles, house contents &building insurance with them too. Now looking to move else where with all my insurance policies at renewal time :(

Unfortunately this is fairly common now :(

I've just took out a new policy with AXA, and checked their cancellation fees before purchasing, and are the same at £50.

On the plus side they were £50 cheaper than the nearest other quote, so swings and roundabouts. I didn't check the fees on the others but will most probably be similar.

I always check the small print these days, so at least you know what your options are before the event. Sad times.

£50 seems a bit steep as it's just an admin fee. How far away from the next renewal are you? If there's some way to go you might be due some of your premium back. If you're right up to renewal just let it lapse rather than cancel and then there won't be a charge.

Happy to quote you when renewal of your other business comes up.

Best,

Nick

If you're right up to renewal just let it lapse rather than cancel and then there won't be a charge.

Nick

This seems dubious advice from an insurance broker!

Surely you must cancel any insurance you have immediately you sell the car. There have been news articles regarding this, whereby the new owners have claimed on policies not cancelled by the previous owners.

Edit: 30 second Google search popped these up-

http://www.whitedalton.co.uk/motorbike-blog/2013/10/i-sold-my-bike-but-didnt-cancel-my-insurance/

http://www.rac.co.uk/forum/showthread.php?19031-car-sold-but-insurance-left-running-now-a-claim-against-me

Edited 22 January, 201610 yr by 999pooch

I did say 'if you're right up to renewal'. Yes you want cover to cease when you sell the car but if that coincides with what would be your renewal (some people trade every three years) it's fine to lapse it rather than cancel.

The renewal was October 2015, they say after the £50 amin fee I will be due approx £40 the total policy was around £190 paid in one lump on renewal date straight out the bank.

Come renewal I will go elsewhere.

Edited 22 January, 201610 yr by Defenderben

I recently had SAGA telling me on the phone and by letter that i would have to pay on a Cancellation on a Policy for a vehicle i was selling for parts just before the Policy was going to expire in 3 weeks time, and it would likely get broken for parts,

and i still have other vehicles insured with them.

I called and was assured there would be no cancellation fee, and there was not.

Direct line flatly refused to waiver the fee or reduce it bearing in mind I have 5 policies all with them and have done since 2007 :(

Direct line flatly refused to waiver the fee or reduce it bearing in mind I have 5 policies all with them and have done since 2007 :(

Youve done the right thing in drawing attention to your existing policies, and your unhappiness in their policy.

Only 2 x things left.

1. Ask to speak to their senior manager / cancellations manager to cancel the other policies

2. Vote with your feet

I bet you will always check the small print for alterations / cancellations etc. I do know!!!

Edited 23 January, 201610 yr by 999pooch

Bennetts just charged me 30quid to alter my policy on my motorbike from provisional to full licence,

 

There all at it

Bennetts just charged me 30quid to alter my policy on my motorbike from provisional to full licence,

There all at it

That's normal though. Your more of a risk when you get a full license. Be it car or bike.

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I took it Volvomag meant they charged an Administration Charge to change the Policy Declaration, not an Increase in the cost of Cover.

 

They are all at it for Keyboard Input, and Online rather than Paperwork information.

Insurance Companies have been told by Regulators / Government, like banks have, their Admin charges are excessive,

makes no differences, Banks own Insurance Companies in the Main.

I took it Volvomag meant they charged an Administration Charge to change the Policy Declaration, not an Increase in the cost of Cover.

They are all at it for Keyboard Input, and Online rather than Paperwork information.

Insurance Companies have been told by Regulators / Government, like banks have, their Admin charges are excessive,

makes no differences, Banks own Insurance Companies in the Main.

Oh. If that's the case then I'd have told them to do one!!!

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Yeah admin charge,

 

same little 125 just can take the L plates off now, altho tbf its not moved since i passed my test