Basically back in june my gt got stolen and burnt out.....i only had the car 2 fucking weeks!!!

i cancelled the insurance after i got my claim money.....£300 from a car that was much more than that and had stereo equipment inside...joke!!!

So i cancelled st the beginning of september and have just got 2 letters through after they tried to take out a direct debit and my bank cancelling it ...the letters said that they would cancel my policy if i didn't make another payment and then the second said that i owe the remaining £608 on the ploicy....surely this isn't right....i have to pay all in all £900 for insurance and £600 for my car which i have for only 2 weeks and i get £300 back...please help...i am on the fucking verge of ripping my hair out.....

Any info would be appreciated...

Jay

Edited 23 November, 200718 yr by Jay

It would be worth looking for some legal advice forums, I'm sure there are some. Also, read the small print of your insurance policy carefully, this may be a clause written into the agreement.

Can't you just get another car and keep the policy running? If you get a 1043cc engine, they may refund some of your premium.

I thought the general rule was that if you've made a claim, you can't get a refund on your insurance. I would've pushed them for a higher amount. What did they base their valuation on?

If it's a monthly payment, then surely once you've cancelled, thats it? Thats why you pay more in total on monthly than paying all in one go, isn't it?

I know if you pay it all off in one go though, claim and then cancel, they don't refund anything. That happened to me. They did refund me some though when I insured a Punto just after the accident. I got a few hundred back. But nothing a couple months later for cancelling.

If it's a monthly payment, then surely once you've cancelled, thats it? Thats why you pay more in total on monthly than paying all in one go, isn't it?

I know if you pay it all off in one go though, claim and then cancel, they don't refund anything. That happened to me. They did refund me some though when I insured a Punto just after the accident. I got a few hundred back. But nothing a couple months later for cancelling.

Err not really!

I am not an expert.. but just because you pay something monthly and they charge you a bit more doesnt mean when you cancel they also cancel and all is OK. IIRC you pay more because of interest... They are loosing out as they cant make interest on your money straight away (amongst other reasons)

You have a contractual arrangement with them for an insurance policy (need to find out what you signed up for)

You also made a claim.. Bassically I'm sure they would have a clause otherwise you would insure for a month make a claim and they would be out of pocket..

An insurance company will rarely be out of pocket!

I would check your terms and conditions of cancellation! Or seek legal advice from citizens advice bureau (this is free and they know what they are talking about, unlike people that just say what they "know!)

^^^ This man talks sense.

Generally, even though you are paying in monthly installments, you are still on a year policy, and it's a contract for the year.

If once claimed, their policy states you get no refund on a cancelation then you will still have to pay your installments! Very harsh in the case of your payout not even covering the rest of the year! :(

is it not the same situation of say, your moving to uni and cant afford to keep the car so u sell the car and cancel the insurance?

It depends, it could change having made a claim on it!

i would of got the £300 paid out and bought the scruffiest shower of shit just to keep the policy running,

is it not the same situation of say, your moving to uni and cant afford to keep the car so u sell the car and cancel the insurance?

Surely that changes if you made a claim, as they've had to pay out and don't want to be out of pocket?

read your policy from your insurer. As others have said you might not be able to cancel once you've made a claim. Are you not buying another car then?

read your policy from your insurer. As others have said you might not be able to cancel once you've made a claim. Are you not buying another car then?

Yeah i need to dig out the paperwork...and i can't afford another car at the minute...if i would have known all this was going to happen i would have just bought a shitter for a few hundred and carried on the policy...oh well

You'd have been better not claiming at all and just cancelling your policy and getting a refund back.

I hate insurance companies, bunch of absolute robbing barstewards.

Generally if you pay monthly and cancel, you'll lose your deposit and whatever you've paid up until that date, and usually a cancellation fee of £35-£50. But If you make a claim and cancel, then usually the premium for the year will have to be paid.

i had the same problem with my policy and if you read the samll print it will say that if you have a claim within the first 12 months of your contract then you will be liable to pay the full 12 months insurance. i presume this is to stop people paying for insurance crashing within a week and gettin 4 people to claim injuries meaning the insurance company will be paying out 10k+ and only gaining £100, i know this as it happened to me. i had a crash into someone and it wrote my car off and as i was third party i didnt put in a claim form for my car so i was carless, so i cancelled my insurance and then a week later got a letter through saying that i owe them 1600!! as they hadnt recieved a single payment on this car, so i rang bck and managed to get them to open up the policy again a month later when i got another car, i then got three weeks within a years no claim which i had been told i would of lost because of the crash as it was still pending so i cancelled my insurance, a month later they write to me to tell me that the crash was not down to me and that my ncb would of been recieved if i didnt cancel it!!!!

so after around a year of w8in to find out whos at fault and being told i was and made to pay 1600 insurance for the year when i could of found a different policy for much cheaper they decide to tell me that I'm out of a car and ncb just because they took so long!!!!

hope that all makes sense as cant be bothered reading through it to c lol

When I had my 2 accidents at the beginning of 2007 I had to pay all my insurance once I'd made the claim. Its fair enough really as you have taken out a years policy. If you paid it all at once then had a smash they wouldn't refund you any then.

But I must ask how did they only give you £300 for a GT? Did you not get a few offers or did you just take the first one?

When I had my 2 accidents at the beginning of 2007 I had to pay all my insurance once I'd made the claim. Its fair enough really as you have taken out a years policy. If you paid it all at once then had a smash they wouldn't refund you any then.

But I must ask how did they only give you £300 for a GT? Did you not get a few offers or did you just take the first one?

They first offered me £250...then £300......and finaly £400 and said they could go no higher than that.....and add to that my £100 excess....basically i just had a shit experience with insurance.....

I've learnt the hard way and am now having to fork out £600 for insurance for nothing...so the money i would have saved is now money going to them...which sucks...it was my fault for not reading all the small print etc.....

Next time i plan on going with a specialist insurers or one who are good with modifications

Oh well you live and learn...but i will come bouncing back at somepoint..