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Advice sought re Motor Insurance SetUp & Cancellation fees.

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  • 30-05-2013 1:02am
    #1
    Dionysius2
    Registered Users Posts: 342 ✭✭


    Economic necessity and domestic circumstances forces me to cancel my motor insurance cover with about 6 months left to run on the policy. The Ins Co respond expressing regrets that I'm cancelling my policy and then say that I must pay approx €46 for non-refundable setup fee and a further €44 cancellation fee and that these amounts are deductible from the refund I will be due on the policy. Seems a bit harsh. Have I any redress ?


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    #2
    Nody
    Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,306 CMod ✭✭✭✭Nody


    Not really; they could hold you liable for the full amount for the duration left instead as that's what you signed up for and agreed to pay in the first place.


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    #3
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,217 Mod ✭✭✭✭godtabh


    fairly standard


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    #4
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    Nody wrote: »
    Not really; they could hold you liable for the full amount for the duration left instead as that's what you signed up for and agreed to pay in the first place.

    They cant hold you liable for the remaining balance if the terms allow cancelling with fees attached to it, which is the case mentioned here.


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    #5
    Dionysius2
    Registered Users Posts: 342 ✭✭Dionysius2


    OK so.....seems clear enough that I'm not in a good position to dispute the levies so it's pay up and suffer it. Thanks for views.


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