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LV 14 day cooling off period


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Right i took out car insurance 2 days ago. I was told by LV that i had a cooling of period of 14 days. Ive cancelled the insurance today and been told there is a £35 cancellation charge, I tried to explan to the guy that i thought i had 14 days cooloing of period. but with no joy, i have 2 other car polices with LV and have had for 4 years, please advise

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Right i took out car insurance 2 days ago. I was told by LV that i had a cooling of period of 14 days. Ive cancelled the insurance today and been told there is a £35 cancellation charge, I tried to explan to the guy that i thought i had 14 days cooloing of period. but with no joy, i have 2 other car polices with LV and have had for 4 years, please advise

 

anyone got any advice???

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have you made a claim?

 

According to LV's policy booklet you should get a refund

 

Your cancellation rights

At policy commencement

You are legally entitled to cancel this insurance during a period of 14 days after

the day of purchase or the day on which you receive your insurance documents,

whichever is later.

If you do wish to cancel please return your insurance documents to us. We will

be unable to cancel if you do not return the certificate of motor insurance. A full

refund of the premium will be paid to you unless you have made a claim within

the 14 day period.

During the policy

If the cover has started and is beyond the 14 day statutory period, you will be

entitled to a refund of the premium paid less a deduction for the days that you

have been covered. This deduction will be calculated on a proportionate basis

and will include an additional charge to cover our administrative costs. These

charges will be subject to Insurance Premium Tax where applicable.

 

Most companyshave now changed their stance on the 14 day cooling off period, many now give 14 days OR until the day the policy starts ( so nobody can benefit from free cover)

 

I would call back and raise a complaint with a manager first, it seems that you SHOULD be entitled to a refund if you return your certificate of insurance ( may be worth doing this by recorded delivery - proof that it's being delievered)

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Ed - why have I "missed" the point??

 

lv's wording that I've taken from the policy booklet does not state that a cancellation fee is applicable within the cooling off period.

 

The OP is entitled to a FULL refund with NO cancellation fee as they have cancelled the policy 2 days after inception.

 

or - I'm I seriously missing something here?:)

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Ed - why have I "missed" the point??

 

lv's wording that I've taken from the policy booklet does not state that a cancellation fee is applicable within the cooling off period.

 

The OP is entitled to a FULL refund with NO cancellation fee as they have cancelled the policy 2 days after inception.

 

or - I'm I seriously missing something here?:)

 

Cheers guys, what shall i do, write and letter or ring them....?

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