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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 71135
Experience:  Over 5 years in practice
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I have purchased a replacement car and have contacted my insurer

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I have purchased a replacement car and have contacted my insurer GO SKIPPY to change the policy details. I expected an administration charge but was staggered by their quotation. At the moment I pay monthly £50.92p, the policy expires in November. I have had quotations from various insurance companies including my present insurer and they are £200 cheaper yet I was asked to pay £50 + £122 per month until the policy expires. I asked for a cancellation and they are asking for £502 to do so ! Is this legal, do I have to pay this? I am confused about how to reply. can you advise? Regards Jo***** *****
In short, they probably are.They would not normally be allowed to levy cancellation penalties as that would offend against UCTA but that is not what insurance companies do. Insurance is due upon the date that it is taken out. They allow you to pay in instalments over the year but that doesn't change the fact that it is due and so they are just asking for what is due under the contract.In terms of the increase, different cars do give rise to different insurance risks. It is a competitive market so I am not surprised that you can find cheaper quotes but it is not an option without cancellation charges in the middle of a policy.You can always complain to the Ombudsman but it is not likely that any action would be taken against them.If you tell them that you can find cheaper elsewhere they might match the quote.Can I clarify anything for you?Jo
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