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Car insurance termination penalties


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I have cancelled a policy with Quinn after 4 months (40%) & they will only refund 45% of the payment as stated in the policy rather than on a daily basis. The difference is in excess of £700 because it was including my 17 yr old son. Even though there is a contract, this seems totally disproportionate. Are there any options that I can persue?

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I have cancelled a policy with Quinn after 4 months (40%) & they will only refund 45% of the payment as stated in the policy rather than on a daily basis. The difference is in excess of £700 because it was including my 17 yr old son. Even though there is a contract, this seems totally disproportionate. Are there any options that I can persue?

 

No there is not much that you can do about this, as it was stated in their policy terms.

 

Advice for anyone wishing to covering their son/daughter while on a provisional licence. Don't take out full annual Insurance, take out learner cover on a pay as you go basis instead e.g. Collingwood learners. If they pass their test after a few months worth of lessons, it could save you a lot of money.

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A lot of insurers actually offer a discount on young drivers with a provisional licence over young drivers with a full licence. This is because the risk profile of a young provisional driver with an experienced person beside them is much better than a driver of the same young age by themselves. Doing the above may not save you any money.

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A lot of insurers actually offer a discount on young drivers with a provisional licence over young drivers with a full licence. This is because the risk profile of a young provisional driver with an experienced person beside them is much better than a driver of the same young age by themselves. Doing the above may not save you any money.

 

Yes taking out a learners policy can save money. If a leaner driver takes out an annual standard policy while holding a provisional licence, as soon as they pass their test and inform their Insurers, they will be met with a massive premium increase. This is probably why the OP had looked to cancel, due to the premium increase.

 

This is why these learner policies are proving to be popular, People are getting caught out with annual policies. If they pass their test and amend the policy the premium increase is massive. If they want to cancel, they are hit with high cancellation charges. Therefore the pay as you go learner policies, can prove to be the better option.

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