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Can insurers back-charge on previous policies?
My policy recently came up for renewal and I noticed it wasn't fully up to date with the penalty points I have on my licence.
On informing the insurance broker, they 'calculated' a sum that they said I owe them for the two previous years of insurance, had those policies been fully up to date with my penalty points. A clause in my contract of insurance states 'we will calculate any difference in premium from the date circumstances changed even if this happened in a previous period of insurance.'
No where in this statement, or elsewhere in the contract, does it say they will back-charge this sum. The broker tells me it means that they will back-charge the calculated figure, however my dispute is that this is not mentioned anywhere. What are your thoughts?
On informing the insurance broker, they 'calculated' a sum that they said I owe them for the two previous years of insurance, had those policies been fully up to date with my penalty points. A clause in my contract of insurance states 'we will calculate any difference in premium from the date circumstances changed even if this happened in a previous period of insurance.'
No where in this statement, or elsewhere in the contract, does it say they will back-charge this sum. The broker tells me it means that they will back-charge the calculated figure, however my dispute is that this is not mentioned anywhere. What are your thoughts?
Asked on 23 July 2011 by ejwr
Answered by
Honest John
The statement ''we will calculate any difference in premium from the date circumstances changed even if this happened in a previous period of insurance'' does mean that they will "back charge".
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