kay1 Posted February 17, 2012 Share Posted February 17, 2012 I accepted a quote due to start in 2 weeks time but when the schedule arrived they hadn't included protected NCB which I did ask for, when I rang they told me this would be another £70 which I declined and cancelled the policy they have told me I have to pay a cancellation fee even though the policy is not in force and I had a 14 day cooling off period from accepting the quote, can they charge this fee for cancelling a policy which does not come into effect for another 14 days days Link to comment Share on other sites More sharing options...
Strix Posted February 17, 2012 Share Posted February 17, 2012 how long did it take them to get the policy out to you in writing after you spoke to them? Link to comment Share on other sites More sharing options...
kay1 Posted February 17, 2012 Author Share Posted February 17, 2012 how long did it take them to get the policy out to you in writing after you spoke to them? it took 2/3 days to arrive Link to comment Share on other sites More sharing options...
barleycorn Posted February 17, 2012 Share Posted February 17, 2012 Buying insurance over the phone (or internet) falls under thenFinancial Services (Distance Marketing) Regulations. If cancelling within fourteen days they are allowed to charge an admin fee. Financial products and services Financial products including banking, credit, insurance, personal pensions and investments, sold by distance means are subject to a 14 day cooling off period (this is 30 days in the case of life insurance and personal pensions). This includes renewals for insurance where the agreement has been sent by post. This 14 day cooling off period also covers situations where you bought a financial product from an intermediary or a broker, even if it was discussed and signed face to face. You must be sure to follow correct procedure for cancellation (see below). The insurer or broker must refund any monies paid by you within 30 days, although they have the right to deduct a reasonable admin charge, and a sum proportionate to the number of days cover you have had. If you have any related credit agreements, these will also be cancelled. http://whatconsumer.co.uk/cooling-off-and-cancellations/ ... however, this is more a case of miss-selling but difficult to prove without a recording of the call. I would put everything in writing to them and escalate it to the FOS if needed. I would explain the situation over the phone, try to get to speak to someone higher up the food chain then if need be put it in writing. jb Link to comment Share on other sites More sharing options...
shand1 Posted February 17, 2012 Share Posted February 17, 2012 This is just another underhand way for insurance companies to try to screw money out of you. It's their mistake, if they haven't included the NCB. Contact them again, if they won't back down, ask them if they have the phone number for the "insurance ombudsman" That will often put the fear of god in to them! Link to comment Share on other sites More sharing options...
kay1 Posted February 17, 2012 Author Share Posted February 17, 2012 This is just another underhand way for insurance companies to try to screw money out of you. It's their mistake, if they haven't included the NCB. Contact them again, if they won't back down, ask them if they have the phone number for the "insurance ombudsman" That will often put the fear of god in to them! I have contacted them again and they were very offhand and told me I could "contact who I wanted to" they will still take the cancellation fee. I have phoned the ombudsman and they are taking the matter up with them fingers crossed they will have more luck than me Link to comment Share on other sites More sharing options...
cgksheff Posted February 17, 2012 Share Posted February 17, 2012 I accepted a quote due to start in 2 weeks time but when the schedule arrived they hadn't included protected NCB which I did ask for, when I rang they told me this would be another £70 which I declined and cancelled the policy they have told me I have to pay a cancellation fee even though the policy is not in force and I had a 14 day cooling off period from accepting the quote, can they charge this fee for cancelling a policy which does not come into effect for another 14 days days What form did the initial quote take? Letter, Phone, Internet, email? Are you dealing with the actual insurers or brokers? Link to comment Share on other sites More sharing options...
dawny1970 Posted February 17, 2012 Share Posted February 17, 2012 mis selling under the distance regs im sure!!! Link to comment Share on other sites More sharing options...
cgksheff Posted February 17, 2012 Share Posted February 17, 2012 mis selling under the distance regs im sure!!! Maybe not. When I've dealt with insurers over the phone they have always been meticulous in reading the critical points out to confirm acceptance. Link to comment Share on other sites More sharing options...
cgksheff Posted February 17, 2012 Share Posted February 17, 2012 Can we ask who was the insurer? Link to comment Share on other sites More sharing options...
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