When you take out car insurance are you locked in a contract? - HotUKDeals
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When you take out car insurance are you locked in a contract?

midjet666 Avatar
5y, 9m agoPosted 5 years, 9 months ago
Hiya,
My friend took out a policy with Ibuyeco car insurance, he tried to cancel it today but they're trying to charge him £428. I've searched on their website to see if it's a contract but can't find anything? I've never had a car so I don't understand any of this? I just assumed you could cancel as and when and change to a different provider?
I searched for some reviews and they're really bad!

http://www.reviewcentre.com/reviews153955.html

Can anyone help please? Many thanks in advance :)
midjet666 Avatar
5y, 9m agoPosted 5 years, 9 months ago
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Comments/page:
#1
i have known them charge in full if you have claimed..and i think things are changing all the time re insurance. She needs to check what she signed up for?
#2
I'll ask her to check. I think they only signed up for it a few days ago, do they have a cancellation period? Like 14 days?
#3
You haven't provided any details.
When was the insurance taken out, and what was the annual premium?
#4
thesaint
You haven't provided any details.
When was the insurance taken out, and what was the annual premium?


I've asked my friend and am waiting for a reply. I'll ask about the annual premium too.
#5
Same happened to me, lots of small print and it cost me over £300 to cancel within the cooling off period.
I looked into it, but had to live with it - I took it as a lesson learnt and hoped others would do so too.

Sorry but I do hope you have better luck.
#6
midjet666


I've asked my friend and am waiting for a reply. I'll ask about the annual premium too.


Ask her for a breakdown of the charges, and if anything in the policy documents mentions early termination.
#7
Hiya,
I've just had a reply from my friend's partner, they took the insurance out in October last year, and they've tried to cancel as they've got a new car. This is exactly what she said-
"Yeah it does say that we have to pay a percentage of the total insurance for the year which was around 1400 for the year we have been charged 70 percent of the total for 4 months insurance :( plus 38 cancellation fee and 109 for last months insurance"
#8
Why can they not just move the insurance over to the new car rather than cancelling it?
#9
autolesbona
Why can they not just move the insurance over to the new car rather than cancelling it?


It costs a lot more, it was cheaper to go elsewhere (but looking at them being charged £400+ they'll have probably saved!)
#10
Premiums are based on 12 months cover, so any reduction in that time will result in increased amounts for the shorter period of cover.
#11
Inactive
Premiums are based on 12 months cover, so any reduction in that time will result in increased amounts for the shorter period of cover.


Ahh ok thank you.
#12
and they bang the costs on to keep you!

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