I recall seeing policies years ago that refunded a sliding scale when cancelling.
Eg, cancel after a month you get 11 months back minus admin fee. Cancel in last two months and get nothing back. This is from AA car insurance Cancellation outside 14 days Beyond 14 days of receipt of Your policy documentation or the date You enter into the contract, (whichever is later) You may cancel this insurance at any time. Your Insurer will refund a percentage of the premium calculated on a pro rata basis equivalent to the period of cover left unused. The charge for this period of 16 cover will always be a minimum of £15. No refund of premium will be allowed if a claim has or is being made against this policy prior to such cancellation during the current period of insurance. AAIS will charge a cancellation fee* of £30 and also retain its arrangement fee* of £28. If You have chosen to pay Your annual premium by instalments and a claim has been made You must continue to pay Your monthly Direct Debit or pay in full any premium of balance due. So basically you get a pro-rata amount back minus a fee. I’d expect that to be pretty standard. Now I suspect that the finance for the policy and the policy are separate for you. So it could be ‘perfectly normal’ that you have to settle the finance, and then get a refund from the insurance policy. I can’t believe there is nothing due back. The only way to be sure is to check both your policy and financial workings. If these aren’t your thing, share them here and I’ll have a go and translating for you. Matthew On 20 Jun 2019, at 22:09, Niall McCracken <niallmccrac...@gmail.com<mailto:niallmccrac...@gmail.com>> wrote: I have had an extremely unsavoury exchange with Adrian Flux today regarding cancelling my Quantum Insurance. I'm trying to cancel 6 months through a policy and I'm paying for it monthly. They've told me that the only way I can cancel is by paying the entire remaining 6 months of the policy upfront. I argued that if they aren't providing a service they can't possibly charge for it. They reason this is because the policy and the payment for the policy are completely unconnected. The "credit agreement" is unconnected to the policy and simply has to be paid no matter what irrespective of what happens to the actual policy. This seems fairly insane to me. The extremely - extremely rude and aggressive person at Adrian Flux told me that it was explained when I took the policy out that I wasn't entitled to any refund; I said I didn't want any refund I just wanted to cancel the policy. She said this actually meant a refund from the total amount of credit I had taken out irrespective of what happens. She then, when not shouting over me tried to explain my consumer rights and advised "strongly" against complaining to the FSA or Ombudsman as it would be a "waste of time". Effectively this means I can't cancel the insurance on my Quantum, leaving it impossible for anyone else to insure it. I may be being a bit naïve here but I have never, ever, heard of a credit agreement for insurance operating in this way. Is it just me or does that sound completely bonkers? -- -- You received this message because you are subscribed to the Google Groups "Quantum Owners Group" group. To post to this group, send email to quantumowners@googlegroups.com<mailto:quantumowners@googlegroups.com> To unsubscribe from this group, send email to quantumowners-unsubscr...@googlegroups.com<mailto:quantumowners-unsubscr...@googlegroups.com> For more options, visit this group at http://groups.google.com/group/quantumowners?hl=en IMPORTANT NOTE: All information presented herewith is provided on an "As Is" basis, without warranty or the implication thereof. 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Neither the Quantum Owners Club nor the individuals associated with the Quantum Owners Club or in the preparation of the above information shall have any liability to any person or entity with respect to liability, loss, or damage caused or alleged to be caused directly or indirectly by the instructions contained within this or related message(s). --- You received this message because you are subscribed to the Google Groups "Quantum Owners Group" group. To unsubscribe from this group and stop receiving emails from it, send an email to quantumowners+unsubscr...@googlegroups.com. To view this discussion on the web visit https://groups.google.com/d/msgid/quantumowners/6845EB0B-24CE-456D-AEF6-92620B15E694%40wastell.org.uk. For more options, visit https://groups.google.com/d/optout.
