Could do with some help. For about a year, due to abject poverty I had to run a 10 year old Mondeo - it was worth sub 1000 so made sense to insure TFP&T, which I did via Motorquote / Bedford insurance for about 30 a month. 8 months into my policy I bought a Seat Exeo ST worth 12500 which of course I wanted fully comp for - so I called them up and asked to change the policy - they wanted an EXTRA 115 month to cover me - catch 22, take it in the **** for 145 a month for 4 months, or insure it elsewhere for 40 a month and lose another years NCB - I've only got 3 years now. I originally told them to go ahead, thinking I'd buy myself sometime, but cancelled it before the next payment and bought insurance somewhere else. I had a letter today from a completely different company (who take payments on behalf of them) telling me they want 400 for cancelling!! They want pretty much the whole of the remaining payments, for providing no insurance, based on a car they covered for exactly 6 days. I assume if I ask them, they'll tell me "tough luck" my only question - what can they do to me if I tell them to sling their hook?
Call the insurance company and ask them if the amount is correct. there is always the chance it could be an error. its a long shot but could save you getting mad with them. if they say no, ask them to breakdown the cost and tell you why its that high. If they say no argue you dont know what your paying for and wish to speak to a manager. if they give you a load of hore s**** then ask to make a formal complaint, see what they have to say. if you still cant get a good reason for the fee..threaten to speak to the FSA and FOS (insurances are regulated by them) if you know your at fault for it due to the terms of the policy and refuse to pay the rest of the premium... its considered to be 'outstanding credit' and normally they refer it to collections or to an external debt recovery team. they howl you for the money and put a bad mark against your credit and it can involve litigation.
Get your police docs out and read EVERY WORD very carefully before you go back to them. Know your rights and liabilities first..
