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budget insurance advice excessive charges to cancel policy

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  • budget insurance advice excessive charges to cancel policy

    hi i had insurance with budget insurance for my van for the past twelve months but my van broke and i got a new one when i put it on the policy the price was high compared to any other companie but cus i only had a couple of months to go for another years no claims i kept it runnin with the intention of canceling when i was up for renewal i never received a letter in the post with a option to cancel it (they say they sent me emails advising me but i never seen and fear they went with automated junk box emptying) so i never got a option to cancel and now it has restarted for this years its been running for 26 days before i got any letters of them and the first info i got was a fine for not returning a fixed loan agreement witch i have not received anyway now they say i cant cancel with out paying a cancellation fee of 75 pound (witch they have offered to wave) but they insist i must pay 149pound for extras witch are included with the policy ie break down cover ect.... (bearing in mind i got the insurance of confused.com and never requested extras they were included in the quote to begin with i have asked them if i am to pay 149 for break down cover ect... does that mean i will be covered for the next twelve months cause i payed for it and they said no it will be cancelled with my insurance further indicating it is part of the insurance not separate please could any body offer me any advice as to if this is fare trading as i feel bad done by especially when i can get the same cover else where for 27 pound a month and they are charging 79 pound a month ,
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  • #2
    Re: budget insurance advice excessive charges to cancel policy

    Hi and Welcome.
    Looking at Budget's website, it appears they are operating within their terms and condition http://www.budgetinsurance.com/car-i...ance-policies/.

    I think your best chance of reducing these charges will be if you requested the documentation be sent to you by post, rather than accepting it on line.
    Can you remember what you specified? If you opted for hard copy documents you have two weeks from receipt in which to cancel under the Financial Services (Distance Marketing) Regs 2004, otherwise it is 2 weeks from when you received the documents online. If you have your settings such that post is binned without being read, that is the equivalent of discarding snail mail post without opening it, and your responsibility

    Budget T&Cs:
    ."The policy documents and certificate for your renewal will be available in the Self Service Centre for you to view or print from the date of your renewal. If you asked for your documents to be sent to you they should arrive within 2-3 weeks of your policy renewing".

    "Before your policy is renewed we will contact you with the best offer from our panel. To save you time and to make sure that you are continuously covered we will use the details you have given us to automatically renew your policy where possible. We will also renew any additional products you may have which are linked to this policy. If you don’t want us to automatically renew your policy please let us know before your renewal date.
    Alternatively, if you opted out of having your policy automatically renewed you will need to call us before your renewal date to make sure you continue to be insured with us.

    When you receive your renewal offer before your policy is due to expire, it will explain what you need to do next".

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