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changing motor insurance company mid policy

  • 21-09-2015 3:21pm
    #1
    ozymandias10
    Registered Users Posts: 537 ✭✭✭


    I renewed my insurance in August for the year. The cost of it had gone up substantially from last year. I have since got 3 penalty points for doing 57 in a 50. Contacted the insurance company and they are saying that there is now €198 euro to be paid for this. this sounds mad and excessive. have friends with 4 points and had no loading on theres. What are my options here. can you cancel your current policy and look for fresh quotes elswhere. really dont know what to do.


Comments

  • #2
    HeidiHeidi
    Registered Users, Registered Users 2 Posts: 29,448 ✭✭✭✭HeidiHeidi


    You can cancel your policy, but you won't get all of the unused portion of the premium back.

    The insurance company (if they're willing to refund you any at all) will have a scale of percentages that they'll return depending on how long the policy has to run. I did this this year (for a different reason though!), the policy was only about 6 weeks old and I got most of the rest of the premium back. Had it been much later in the policy, I'd have got a much smaller proportion back though.

    Would be worth doing the maths on it before you move - get other quotes and contact your own insurers to see what their cancellation policies are.


  • #3
    dobsdave
    Closed Accounts Posts: 1,814 ✭✭✭dobsdave


    ozymandias10 wrote: »
    I renewed my insurance in August for the year. The cost of it had gone up substantially from last year. I have since got 3 penalty points for doing 57 in a 50. Contacted the insurance company and they are saying that there is now €198 euro to be paid for this. this sounds mad and excessive. have friends with 4 points and had no loading on theres. What are my options here. can you cancel your current policy and look for fresh quotes elswhere. really dont know what to do.


    I didnt realise that you had to contact the insurance company mid policy to tell them about a speeding offence.
    Thought it would be just at renewal


  • #4
    To Elland Back
    Closed Accounts Posts: 1,923 ✭✭✭To Elland Back


    dobsdave wrote: »
    I didnt realise that you had to contact the insurance company mid policy to tell them about a speeding offence.
    Thought it would be just at renewal

    The duty of disclosure revives at renewal date. However, insurers have being inserting contract conditions that you must notify them immediately


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