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Withdrawal of insurance

  • 29-11-2018 9:50pm
    #1
    impega1
    Registered Users Posts: 107 ✭✭


    Looking for advice here please.

    Got a quote from insurance company for car policy. Went through all my details online and received very competitive quote.

    The company rang me to follow up on quote and it transpired that I had supplied incorrect details for named driver (dob) and I neglected to put in that I required business travel requirements.

    Operator went through quote and said that there was no impact on price. I paid policy and forwarded proof of no claims bonus and copy of driving licence.

    Company rang me today to say they mad mistake and that policy was actually €90 more.

    They refuse to honour original quote. Is this correct?

    Also in order for me to receive refund I must issue them with correspondence detailing that I wish to cancel policy. Only then will they issue a cheque for the refund.

    My current policy expires in 5 days. I don't have spare few hundred quid to spare to renew plus I don't have original ncb documents.

    Anyone with any advice?.
    Should they honour the original policy quote?
    Thanks


Comments

  • #2
    Eggs For Dinner
    Registered Users, Registered Users 2 Posts: 2,996 ✭✭✭Eggs For Dinner


    If the policy is 'live' they have to honour it, providing it was based on correct information. If it is due to go live in 5 days at the expiry of your current policy, they can withdraw their quote


  • #3
    peteb2
    Registered Users, Registered Users 2 Posts: 1,813 ✭✭✭peteb2


    impega1 wrote:
    My current policy expires in 5 days. I don't have spare few hundred quid to spare to renew plus I don't have original ncb documents.

    Eggs For Dinner wrote:
    If the policy is 'live' they have to honour it, providing it was based on correct information. If it is due to go live in 5 days at the expiry of your current policy, they can withdraw their quote

    Yeah the likelihood is that your statement of fact forming the basis of cover doesn't note the business use. It's usually 20 percent increase. So you'll have to pay up unless it's noted in the document.


  • #4
    alig1234
    Registered Users, Registered Users 2 Posts: 29 ✭alig1234


    Under financial regulation rules set down by regulator all companies have to record all calls for monioring purposes. Write to the company ask them to honour the original quote and if they cant to send you an audio link to all your phones calls to them and from them on this matter. The latter takes them an age to retrieve but you are entitled to same so i guess they will honour your original quote pretty quickly.


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