What is Discount Recovery when cancelling car insurance premium after 4months

[des8]

Re: What is Discount Recovery when cancelling car insurance premium after 4months

If that's what it is why not write in plain English such as "we are reducing your refund by deducting a portion of the original discount which was based on your retaining the policy for 1 year"

Because that is a misinterpretation of the situation. Their T&Cs are quite clear, and IMO their reasoning is fair.

[righty]

Re: What is Discount Recovery when cancelling car insurance premium after 4months

To be fair this is normal practice if the insurance is obtained through an intermediary.
The broker has rebated part of his commission to get the business
When you cancel the insurance company will require the broker to return the commission that was paid to the broker at inception.
As the broker had passed some of that commission to you as a discount it is only right that you return " the unused portion of the discount".

Then they should say so not produce some meaningless term designed to confuse consumers

[righty]

Re: What is Discount Recovery when cancelling car insurance premium after 4months

Because that is a misinterpretation of the situation. Their T&Cs are quite clear, and IMO their reasoning is fair.

Just how is it a misinterperation they are reclaiming part of the discount calculated on the reduced term of insurance are they not?

[des8]

Re: What is Discount Recovery when cancelling car insurance premium after 4months

Then they should say so not produce some meaningless term designed to confuse consumers

IMO the English is perfectly clear and understandable

[des8]

Re: What is Discount Recovery when cancelling car insurance premium after 4months

Just how is it a misinterperation they are reclaiming part of the discount calculated on the reduced term of insurance are they not?

Because they are not "reducing a portion of the original discount" (post 16) but are reducing the refund to enable them to reclaim the unused portion of the discount.
Subtle difference in wording perhaps.

[wales01man]

Re: What is Discount Recovery when cancelling car insurance premium after 4months

Read the small print!
If the OP read it he would not be on here?

[Johnboy007]

Re: What is Discount Recovery when cancelling car insurance premium after 4months

Read the small print!
If the OP read it he would not be on here?

Probably read it, but still doesn't want to pay it........