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Is it normal to have two cancellation charges on insurance?
I recently cancelled my existing insurance policy due to a vehicle change and was refused repayment of £167 unexpired days by Surething (underwriter was Covea).The policy stated these days were repayable less a £32 admin charge and as the cost was £175, I believed the repayment should have been £48. Surething stated the their cancellation charge was £60 + "on top of any cancellation charge from the insurer". Is it normal to have two charges?
Asked on 15 October 2018 by ALAN ASKEW
Answered by
Honest John
No, it is not. Only one cancellation fee should apply. Raise a complaint with the insurer, the raise a complaint to the Financial Ombudsman service. Here are some useful links:.www.handbook.fca.org.uk/handbook/ICOBS/7/?view=cha...r
www.legislation.gov.uk/uksi/2004/2095/regulation/1...e
www.legislation.gov.uk/uksi/2004/2095/regulation/1...e
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