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insurance charges

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fuggy | 15:47 Thu 19th Apr 2012 | Insurance
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i have just changed my car and altered the cover mid term. i was given a new price which was way over the top. i found one aprrox £200 cheaper (avivia) and canceled the policy. i have just received a demand for £50 plus from (privilege). has anyone any experience with this ?. i may just offer 50p per week.
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Most, if not all, firms have a cancellation charge and £50 is not far out of line in my experience. What does your policy T and Cs says the charge would be?
you should have called them and negotiated it down!
You can't just walk away in the middle of a 12 month contract - doesn't matter whether it is for a phone, car insurance or anything else for that matter.

The insurer has committed to covering you for a year, you have committed to paying for a year - it's not a "pay as you go" contract.

There will have been cancellation charges in the small print to compensate the insurer for you leaving early.
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thanks for that. it's food for thought.

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