Insurance - Bennetts... Argh..

Sephiroth · World Chat Champion Joined: 09 Apr 2006 Karma :

Hi,

Cancelled the FZR insurance today. It came to around 500 for the year with all the extras and what not.

So far I've paid 100 quid deposit when I started and 43.00 for 3 months that I've used it. That comes to 230 quid.

They want me to pay 50% of the policy and the cancellation fee. They want 240 quid off of me.

Anything I can do? They want me to basically pay for the full amount, in retrospect.

Any ideas?

Sorry if in wrong section, although it is bike related!

Mr.Everready · World Chat Champion Joined: 28 Mar 2003 Karma :

When you take out insurance and pay it over the year in instalments you are actually taking out finance. So in reality your taking on a loan for those 12 months. When you signed up you would have agreed to the terms.
Not much you can do I'm afraid except plead with them.
____________________
the undemocratically unelected mod of the Scottish section

Kal · World Chat Champion Joined: 02 Jan 2007 Karma :

If you cancelled it and you are out of the 14 day cooling off period then you are probably stuffed.
____________________
Kal...
I Like To Hoon It Hoon It I Like To Hoon It Hoon It I Like To Hoon It Hoon It Ya Like To (HOON IT!).
1984 GB250 Clubman,1983 CB250N Superdream, 1999 GPZ500S

Sephiroth · World Chat Champion Joined: 09 Apr 2006 Karma :

True, but if I'd of paid straight one off payment then I would of been entitled to money back for cancelling my policy earlier. In that instance, they should reduce the amount needed to pay back to what I've used.

ram_doom · World Chat Champion Joined: 25 Mar 2006 Karma :

Might as well leave it run for the ncb adam?
____________________
TL1000s, KDX200

Kal · World Chat Champion Joined: 02 Jan 2007 Karma :

Nah. They are letting you have £30 back.

It's shit but first of all check your terms and conditions, that should have laid out in black and white exactly what you are due back in respect to cancellations.

Things like breakdown cover, personal injury cover and legal cover are generally outsourced to other companies so because Bennetts (and indeed other brokers) have handed the cash for that over to someone else you need to break their fingers before they will give it back to you.

On top of that you had it financed, so you've got the fee for arranging the financing and the interest that should have accrued as well as Bennetts cancellation fee. All of which are legal charges.

This is why it is often better just to let a finance agreement run than to pay it off early.

stinkwheel · Bovine Proctologist Joined: 12 Jul 2004 Karma :

Sephiroth · World Chat Champion Joined: 09 Apr 2006 Karma :

Can't be insured on the same vehicle as someone else and as I'm selling FZR I had to cancel policy. Same with Bandit.

iooi · Super Spammer Joined: 14 Jan 2007 Karma :

Kal · World Chat Champion Joined: 02 Jan 2007 Karma :

To be honest that seems to be industry standard.
____________________
Kal...
I Like To Hoon It Hoon It I Like To Hoon It Hoon It I Like To Hoon It Hoon It Ya Like To (HOON IT!).
1984 GB250 Clubman,1983 CB250N Superdream, 1999 GPZ500S

trevoriv · World Chat Champion Joined: 04 Jun 2005 Karma :

1st year of insurance is a short period cancellation rather than a pro-rata return, this is to compensate for all those dodgy geezers never paying up, after a year of insurance the insurer 'trusts' you Smile

The cancellation fee is a bennetts thing not the insurance company, brokers love admin fees.

In short you're always buggered if you cancel mid-term in the first year of insurance. Neutral

Sephiroth · World Chat Champion Joined: 09 Apr 2006 Karma :

Yeah I know. I wouldn't care about the cancellation fee it's just that 240 quid, it'd make things better if they offered a years no claim.

Cancelled DD anyway so the cunts can wait for their money. Thumbs Up

iooi · Super Spammer Joined: 14 Jan 2007 Karma :

Kal · World Chat Champion Joined: 02 Jan 2007 Karma :

Dumb idea. You signed a legally binding contract. They can and will legally extract the money from you and there is a chance they may fuck up your credit rating doing it.

Think of it as a learning experience and move on.
____________________
Kal...
I Like To Hoon It Hoon It I Like To Hoon It Hoon It I Like To Hoon It Hoon It Ya Like To (HOON IT!).
1984 GB250 Clubman,1983 CB250N Superdream, 1999 GPZ500S

Sephiroth · World Chat Champion Joined: 09 Apr 2006 Karma :

I know about credit ratings and that malarky.

They can't take the money via my card without permission as I will ass rape them. Thumbs Up

I'm waiting for them to contact me, which is when I'll start a complaints proceedure. I know how it all goes.

st3v3 · Super Spammer Joined: 16 Oct 2006 Karma :

did you buy it online or over the phone? if over the pone, there is a legally binding contract in place from the moment they insure you until the second the policy runs out/they canx etc.. A phone call "verbal contract" would stand up in court as long as you were somehow informed at the start of the call it was recorded, if not, then the advisor you spoke to could stand up in court, they would just use the recording to 'refresh' his/her memory. I chose to pay by installments
with bennetts, then phone up not long back, and paid it all off in one go but didn't get charged a surcharge fee for doing so by them or the finance company

best of luck mate. Thumbs Up

____________________
Roger wrote: Women don't get damp for clingy puppies. Get some better happy pills, hit the gym & buy a medallion the size of a dinner plate. Job done

Sephiroth · World Chat Champion Joined: 09 Apr 2006 Karma :

Good advice St3v3 Thumbs Up

st3v3 · Super Spammer Joined: 16 Oct 2006 Karma :

no probs

____________________
Roger wrote: Women don't get damp for clingy puppies. Get some better happy pills, hit the gym & buy a medallion the size of a dinner plate. Job done

St0rmer66 · World Chat Champion Joined: 27 Nov 2005 Karma :

Had a a similar problem with Bennetts when cancelling my old policy here: https://www.bikechatforums.com/viewtopic.php?t=110157.

Never going with them again. Carol Nash have been fantastic so far.
____________________
:: Honda XR 125 L ('53) => Kawasaki GPZ 500S ('02) => Suzuki SV650S ('00) => Aprilia RSV-R ('51) ::

Sephiroth · World Chat Champion Joined: 09 Apr 2006 Karma :

I remember reading about that, which has inspired me to try and not pay.

St0rmer66 · World Chat Champion Joined: 27 Nov 2005 Karma :

Kal · World Chat Champion Joined: 02 Jan 2007 Karma :

If you are going to fight it then the best way is what FIRE_NSR on the other thread suggested.

Speak to a manager and claim a breakdown of all the charges as you are entitled to under the Data Protection Act.

Say something like:
"Under the Data Protection Act 1984 and 1998, and including the right of subject access under these acts, please supply me with a complete list of transactions and charges relating to my account with yourselves."

Very few people actually know anything about the Data Protection and the Freedom of Information Acts so it has a tendancy to scare them.

doggone · World Chat Champion Joined: 20 May 2004 Karma :

The best thing is just to pay it no matter how annoying.
They will get the money and you can bet somewhere in the agreement it said they could.
You'll only end up being on a black-list that will cause problems later.

St0rmer66 · World Chat Champion Joined: 27 Nov 2005 Karma :

iooi · Super Spammer Joined: 14 Jan 2007 Karma :

Most companies will charge you £10 to get details under the DPA.
____________________
Just because my bike was A DIVVY, does not mean i am......