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car insurance premium credit charges are they unlawful.


antonia26
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Premium credit charge £20 for a returned direct debit this company is all online now so only receive an email to say its returned so its not costing anyone anything really. Fos said there is nothing they can do but sure to god if its wrong for banks to charge you stupid amounts it should be wrong for insurance companys . Other companys don.t even bother charging anything like sky, plus net etc. It was only cause of christmas i missed the payment and said i.ll pay it but not the £20 charge but they won.t do it.

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Not unlawful, if they were within the terms & conditions of the contract you arranged. It will either be in the insurance document or the attached credit agreement if paying by instalments.

 

This is yet another issue, which companies can get away with, until the OFT receive a huge volume of complaints and they decide to do something about it. The FOS are not concerned with small issues such as this, unless the charge was not within the terms of the insurance contract.

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Its in the terms but how can they get away with it when banks have been punished for it its just another way to get money out of you it can.t always be helped that you haven.t got enough money in there . Can they cancel my insurance if i refuse to pay the £20.

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Its in the terms but how can they get away with it when banks have been punished for it its just another way to get money out of you it can.t always be helped that you haven.t got enough money in there . Can they cancel my insurance if i refuse to pay the £20.

 

Yes they can cancel if you don't pay.

 

As for banks, they were forced into it, after a long period of getting away with it. I think it followed OFT/court actions.

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Its in the terms but how can they get away with it when banks have been punished for it its just another way to get money out of you it can.t always be helped that you haven.t got enough money in there . Can they cancel my insurance if i refuse to pay the £20.

 

I might be wrong but I think the courts ruled in favour of the Banks with regard the bank charges

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I might be wrong but I think the courts ruled in favour of the Banks with regard the bank charges

 

Yes it was a bit more complicated. I can't be bothered to go back to look at all the info. I think there was a general agreement reached outside of the courts that the banks should look to only make charges that reflect their costs. But there was no actual court case that created any precedent.

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If your DD is rejected for car insurance you can very quickly find yourself without cover.

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