black_widow87 Posted April 21, 2012 Share Posted April 21, 2012 Came home yesterday from work to a letter basically saying that the insurance poilcy i took out in Feb should not have been given to me as im under 25. Basically the insurers will not give me my no claims protection untill im 25 which is no good for me as i dont want to risk losing them. Told them i would like to cancel my policy and and would like a refund but have been told i will be penalized for cancelling by the underwriters, which i am not happy about as im having to cancel due to no fault of my own. Can anybody offer any advice on my situation? Now im 25 in 5 months and know of a few companies that can offer me a great deal on highly modified car insurance, so does anybody out there know of any insurers that will cover for 6 months without having to pay high premium for cancelling the poilcy? Thanks in advance Jake Quote Link to comment Share on other sites More sharing options...
jazz1 Posted April 21, 2012 Share Posted April 21, 2012 They should be by law liable, I would take it further. Quote Link to comment Share on other sites More sharing options...
Guigsy Posted April 21, 2012 Share Posted April 21, 2012 exactly. you cant be penalised for there error. Quote Link to comment Share on other sites More sharing options...
Porky1978 Posted April 21, 2012 Share Posted April 21, 2012 They have offered you a price based on the information that you have given them. The only way they can cancel the policy is if the information given by you is incorrect, but i am pretty sure you would know your own birthday lol. Call em back, tell them to honour their policy based on the fact it is not your fault etc etc otherwise you will take the matter up with the insurance ombudsman. Quote Link to comment Share on other sites More sharing options...
black_widow87 Posted April 21, 2012 Author Share Posted April 21, 2012 They have offered you a price based on the information that you have given them. The only way they can cancel the policy is if the information given by you is incorrect, but i am pretty sure you would know your own birthday lol. Call em back, tell them to honour their policy based on the fact it is not your fault etc etc otherwise you will take the matter up with the insurance ombudsman. The insurers have not canceled the policy, the said they would credit my account as the policy no longer has protected no claims assuming that i wanted to continue with it. I then told them i dont want a policy that wont protect my no claims so have no choice but to cancel meaning i will be penalized for terminating it. Point being if they told me from day 1 i wouldnt be in this situation and found another policy elsewhere. Quote Link to comment Share on other sites More sharing options...
Abz Posted April 21, 2012 Share Posted April 21, 2012 All insurance companies will charge you heavily if you cancel early, even the best or cheapest ones. I'd tell them that the fault is not your own but theirs. They should take the hit with the underwriter not you. So they either honour the original agreement (making an agreement with the underwriter) or they cancel the policy with no fees to yourself so then you can go through the whole hassle of re-insuring. Quote Link to comment Share on other sites More sharing options...
AJI Posted April 21, 2012 Share Posted April 21, 2012 If you signed the contract and they issued it then if they find an error on their behalf you should not incur any 'penalty' charges whatsoever. They can try to pull out any excuse they like from the hat, but if you clearly provided them with the correct information as they requested then they you are not obliged to pay any penalty charges. This happened to a firend of mine and he stood his ground and also was more than prepared to take legal action. They refunded the total amount back to his account. In my friend's case he was in month 2 of his contract and he insisted they refund all the money back to day 1, as the contract he signed was not being (and never had been) fullfilled by the insurance company. Quote Link to comment Share on other sites More sharing options...
Porky1978 Posted April 21, 2012 Share Posted April 21, 2012 All insurance companies will charge you heavily if you cancel early, even the best or cheapest ones. I'd tell them that the fault is not your own but theirs. They should take the hit with the underwriter not you. So they either honour the original agreement (making an agreement with the underwriter) or they cancel the policy with no fees to yourself so then you can go through the whole hassle of re-insuring. Thats what i meant lol. Quote Link to comment Share on other sites More sharing options...
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