After selling car with 3 months ins to run,I`ve withdrawn my DD`s online and monitor account daily to make sure broker hasn`t applied to reinstate them.Also cancelled existing debit card and ordered a replacement for that account.
The brokers had told me that I owe a £45 cancellation fee....can they pursue?
Monthly instalments were under £25 and were in four separate DD`s...ins,legal cover,personal injury and breakdown.Am reluctant to give them anything as they were lousy to deal with,took me a month to receive my policy and they were difficult to contact by `phone,understaffed/busy.
Now added as a named driver on another`s policy at 93p a month!Will apply elsewhere for van ins in a couple of months,can the previous brokers cause me any grief with other insurers?
There's nothing wrong with cancelling the DD, but that won't alter the fact that you may owe the insurance company money. (I don't think the DD can be re-instated without your approval, BTW.)
You need to read the T & C on your policy documents. I don't think £45 cancellation charge is at all unusual or exorbitant. If you are unhappy with their service that's a separate issue; you can't withhold money you owe them for that reason.
I think you'll find that when you took out the policy that meant you agreed to the terms and conditions.
Admit I may end up paying them something,but not £45.This broker has always been inconsistent,prior to initially securing a policy premium with them,and whilst ringing around for cheapest deal,they gave me 3 conflicting quotes.Chose a poor broker this time,previous brokers have been very good,only ever had one other problem but that was due to an insurance company going bust in the mid-nineties.
Only took a couple of mins to alter my bank account details in my favour,no time or hassle really and morally feel I`m in the right.
You're not morally in the right. You do not have the right unilaterally to alter an agreement you made at the outset to be liable for a cancellation fee.
The service you've received is a separate issue. Morally, the right thing to do is to try negotiating with the broker (along the lines of "I know I owe you £45, but I've not been happy with things and could we discuss this"), or is it too much trouble? You say it took a couple of minutes to alter your bank details and I suspect this is what it's really about.
You are not buying monthly insurance. You have bought a years policy, but paying by installments.
They will chase you for these missing payments and will probably win. As this arrangement is a credit agreement, it can reflect badly in future when it goes on your credit file at Experion and the like. Now that is what you should be monitoring rather than your bank statement.