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by : xbootneck | written on :18/03/2009 | permalink

car insurance rip off

I was ripped off

I bought a car in January 2009 and as it was a Jap import I had to insure it with a broker who covered Foriegn vehicles, ie Andrian Flux. They quoted me £235.00 which I paid for 12 months cover. On March 13th 2009 I sold the car and applied for a refund on the policy that had only been in force for 10 weeks. I received a note from them that I was entitled to a refund of £1.67p ! I rang them and asked them how they could justify this charge. Having been kept on "hold" for 15 minutes at a premium BT Line I was informed of the breakdown of the charges.

Initial cost £235.00 out of that was a "setting up fee" of £25.00. As I had cancelled the policy within 3 months I was only entitled to a refund of 50%, that was half the original price of £235.00 less the £25.00 fee, ie £105.00. Out of that there was a deduction of £25.00 cancellation fee plus a commision fee of 17.5% after tax the refund was £60.25. As Adrian Flux had told me there was only a refund of £1.67 you can make up your own mind who is getting ripped off here. When an insurance broker, such as Adrian Flux charges 17.5% commision, which is I suppose fair enough, but then charges £50.00 for a setting up fee and a cancellation fee, this equates to a few keystrokes on a computer keyboard, then you can see where your money is going. If I had not queried this cancellation fee then I would have been ripped off for £58.58 and not so much as an apology ! Great Britain, don't you just love it ?

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Comments:
2009/03/18 08:56 - peter writes:
Why didn't you go with one of majour insurance companies instead of a broker? I hate the idea of middle men that do nothing and take a percentage from everywhere.
2009/03/18 10:07 - HadToBeMe writes:
Hindsight is a beautiful thing Peter. Too late for a major insurance company now. Xbootneck has been ripped off. It's daylight robbery and there's nothing he/she can do about it.
2009/03/18 12:02 - xbootneck writes:
Peter, Unfortunately the major insurance companies will not give an insurance quote for a vehicle which is not on their database, ie a vehicle previously registered overseas, so there is no chance of 'doing it yourself' they have got you by the short and curlies, so to speak !
2009/03/18 12:49 - peter writes:
fuckers. Sorry man. gutted. must be a nice motor.... but with a premium of 235...?? what is it?
2009/03/18 15:27 - Tomleecee writes:
I got charged £20 by my insurer just for them to change my home address. Luckily, the car is kept elsewhere and the location hasn't changed - but £20 just to type a new address into a computer? Scandalous.


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