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Never rains when it pours does it. Opened a letter this morning from my ex-insurance company (car) for a bill for £198.37 for having to cancel my policy with them (wallet stolen, had to cancel the debit card I was using to pay them, details got mixed up on new card, long story etc).
I asked them on the phone this morning if they had a copy of the CCA I 'entered' into as I was paying monthly and therefore my account with them must have been credit-based (ie total annual cost for cover = £300, payable in 12 monthly installments of £30 etc, = £360, therefore cost of credit = £60.).
They replied saying that as they were a telephone based company (Budget Insurance) they didint require CCA's.
Re: CCA required for telephone based car insurance?
Thanks Sequenci - could you be a little more specific please by your reference to regulated - is this reffering to some governing body/organisation that oversees Insurance companies?
The woman on the phone seemed adamant that a CCA wasn't applicable as they were a telephone (her phrase was 'telephonic') based company (this is actually not strcitly correct as I arranged the policy on the internet!). I can't see she is correct? If I entered into a credit agreement with them of any sort, surely this requires a CCA to enfoce?
Re: CCA required for telephone based car insurance?
The 'telephone based company' excuse as a reason not to put things in writing seems to be getting more prevalent. It is, of course, utter bolleaux.
Perhaps Budget should look at their own website; this page, for example appears to demonstrate that they send out a fair amount of paperwork - as you'd expect from any insurer. The usual thing is that they send a payment schedule that has to be signed and returned - that will be the regulated agreement.
Surely any credit agreement is regulated anyway, unless it falls into one of the exemptions - and I don't think instalment payments do.
Re: CCA required for telephone based car insurance?
No I didn't sign up the via the telephone but over the internet and I didn't sign and return anything to them either. As an example, I didn't even have to sign direct debit forms as they took the monthly payments straight from my debit card.
Thanks all for your comments and clarifications- I think another phone call to them may be in order.
CCA required for telephone based car insurance?
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