Miss-sold insurance, where do I stand?

[RallyXmad]

Hi all

I'm not having much luck with insurance at the moment. The latest story is this...

Called up company A for a quote and it came it £57 cheaper than company B. Based on this I went for the quote from company A. The guy told me that I would be paying £533 for the year. I said that I wanted to pay in monthly installments and I double and triple checked that the total I would pay would be £533.

I have now received my payment schedule for the policy and it totals at £625. I called company A and they said that I should have been told about the £25 admin fee and 14% interest. My options are to call customer services in the morning to talk about it, or cancel my policy. I don't want to cancel my policy though, I want to keep the policy that I wass originally quoted.

Does anyone know where I stand here and what ammo I can use to get the policy back to what I was originally quoted?

Thanks in advance

 

[Revels]

You said you wanted to pay in instatements.. Did he give you the monthly price?

He probably thought you meant total price if you paid in one go. You might get the admin fee waived, but the interest isn't going to change.

You don't really have a leg to stand on..

 

[cat171]

How long ago did you get it ? Some give a cooling off period, if they do have one. Go elsewhere. Most charge more for paying monthly, but not all.

 

[Gumby]

Not much you can do, but it won't do much harm to give them a ring. Although you would probably be phoning an 0845 number for 45 minutes, which would probably cost a pretty penny

@ Cat: All distance sales have a statutory 14 day cooling off period

 

[Ben.]

Would this be admiral/bell/elephant?

The guy probably just wanted to make commision, personally i would call up saying you want to cancel it for this reason and like revels said they may waive the admin

 

[Mike_182]

The Admiral/Bell/Elephant group are awkward sods. Massive amounts of interest last time I checked as well!

 

[cat171]

The Admiral/Bell/Elephant group are awkward sods. Massive amounts of interest last time I checked as well!

Never call them out of hours either ! Thick as fook isn't the word !

 

[Vish]

I'd cancel it mate, can't see them budging on the interest.

Not much you can do, but it won't do much harm to give them a ring. Although you would probably be phoning an 0845 number for 45 minutes, which would probably cost a pretty penny

@ Cat: All distance sales have a statutory 14 day cooling off period

http://saynoto0870.com/search.php

has a load of freephone/normal landline numbers on there

 

[Ben.]

Never call them out of hours either ! Thick as fook isn't the word !

lol..i made that mistake the hard way when i did my change of vehicle at like 7pm, must have taken about 30mins

 

[Pinkorstink]

Go with it but ask them for their complaints procedure. Also ask for the name of their security compliance officer so you can gain a transcript of the telephone conversation(£10). Tell them you will be seeking assistance from the Insurance Ombudsman for a resolution. I have just been through similar issues and although it was totally anal process I won the argument. That got me £500 payout as a gesture of goodwill. I reckon they will come good if you approach it correctly.

 

[RallyXmad]

Cool, thanks for the responses guys. I'm still in the 14 day cooling off period but i've already had to cancel one insurance as they insured me then decided they didn't want to cover my mods after I had taken the policy out and declared them (which aren't even massive) so I had to cancel that one. Not having much luck!
The company in question isn't Admiral/Bell/Elephant either. These guys aren't awkward, just didn't give me all the info despite confirming it 3 times lol.

I did call them out of hours too just because I was annoyed and wanted it sorted. I'll see what happens tomorrow.

Thanks for the advice, I'll keep you updated with what happens

 

[barker22]

when i first got insured on the 182, i later found a better/cheaper company. i rang up to cancel my initial policy and they offered to drop my insurance by over £200, cheeky t**ts. the new policy was even cheaper so i still went.
the point im trying 2 make is, they want your custom, you are their customer so they should drop the price.

 

[cat171]

^ Cheap insurance insurance isn't always the best though. Also it's worth checking the excess & voluntery excess, plus what the policy actually covers.

I do agree that the OP can get better though.

 

[RallyXmad]

Right, the outcome was, they listened to my call and said that although I was told the total was £533, when they read the breakdown of payments to me it came out at £625... so basically thats how they covered themselves as I couldn't do the quick maths while listening to them talking to me in the original phone call.
However they did discover they over-charged me for the 'admin' fee so I have £25 heading my way from that. Not happy but at least I got something back

 

[NOT! gary l]

This is normal procedure, when doing an online quote a lot of companies will give you a price, then in small writing after scrolling down the page for two minutes it will tell you something along the lines of ; If paying by monthly instalments the interest rate is ??% and your new total cost is £??.

Most people are aware of this.

 

[RallyXmad]

I didn't do it online, I did it over the phone. I'm fully aware of how it works which is why I questioned everything the guy told me to cover myself