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 ?
