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cancellation fees


Andy7807
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Hi

 

In August I decided to dabble in by selling cars, I took out a traders policy through Choice Quote, the actual insurers being MMA. I Paid up in full at the time. I had a claim going through which was taking ages to sort. I rang and asked how much I would get back if I cancelled the policy. I was told around £460. That with any excess I had to pay would pay for the vehicle damage. I had stopped trading and so didn't need the insurance now anyway, when I spoke to the insurers they said that would be ok. I cancelled the insurance and have chased up by phone to be told that I that the returnable fee was £444, but there was a cancellation charge of £45, which is in the policy document, then Choice Quotes' cancellation fee and also their commission!! So I will probably end up with 250 quid. Surely I should be paying one £45 cancellation charge as stated in the policy, but not the brokers and the insurer cancellation fee plus the brokers commission?

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You need to trawl through the T&C's of the policy and see what the conditions of cancelation are. If they are making a charge which is not mentioned in the T&C's then they are in the wrong.

Have a good read of the t&c's and get back to us with what you find.

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