Insurance technicality question

[Ceri JC]

IIRC, you have 14 days after taking out a policy to cancel the policy and be entitled to a full refund. Now, I'm not hoping to actually do this, but I'd like to know where I stand, as my current insurers seem to have messed up and put my old address on the policy docs from the underwriters, even though the new address was definately given to them and indeed, they even shipped the docs to my new address. I will ring them on monday, but if they try and charge me a £20 "admin fee" for their balls-up, I would like to be able to say, "well, in that case, I'll cancel my policy with you and take out a new one elsewhere".

The thing is, it has been (just) over 14 days from when the cover started, and by the time they got round to sending out the docs over a week later it was the postal strike and I've only just recieved them/spotted the mistake. With regard to the 14 day cancellation period, does anyone know of a clause extending the period of time in the event of mail strikes?

TIA,

Ceri

[ASM-Forever]

I would hope the insurer would change the address on the polciy for free, in this instance. They made the error and your proof that you informed them of a change of address is receipt of the policy.

I reckon they will change it FOC, if they dont swearing is to be encouraged. :)

[Ceri JC]

I would hope the insurer would change the address on the polciy for free, in this instance. They made the error and your proof that you informed them of a change of address is receipt of the policy.

I reckon they will change it FOC, if they dont swearing is to be encouraged. :)

Yes, I suspect they will too. I suspect they might try some, "oh but the new address costs more to insure at" nonsense, but I'll just point out to them that if they can't match the quote, they were only £10 cheaper than another company, so I will switch to them. :)

[northwind]

There's no specific rules referring to postal strikes, just this, from the FSA:

The cancellation period in ICOB 6.2.2 R (http://fsahandbook.info/FSA/html/handbook/ICOB/6/2#D30) must begin on the later of:

(1) (for a non-investment insurance contract (http://fsahandbook.info/FSA/glossary-html/handbook/Glossary/N?definition=G1357) that is a pure protection contract (http://fsahandbook.info/FSA/glossary-html/handbook/Glossary/P?definition=G935)) the day (http://fsahandbook.info/FSA/glossary-html/handbook/Glossary/D?definition=G259) the retail customer (http://fsahandbook.info/FSA/glossary-html/handbook/Glossary/R?definition=G1327) is informed that the contract has been concluded; or
(2) (for a general insurance contract (http://fsahandbook.info/FSA/glossary-html/handbook/Glossary/G?definition=G471)) the day (http://fsahandbook.info/FSA/glossary-html/handbook/Glossary/D?definition=G259) of the conclusion of the contract; or
(3) the day (http://fsahandbook.info/FSA/glossary-html/handbook/Glossary/D?definition=G259) on which the retail customer (http://fsahandbook.info/FSA/glossary-html/handbook/Glossary/R?definition=G1327) receives the contractual terms and conditions and information in accordance with ICOB 5.3.4 R (http://fsahandbook.info/FSA/html/handbook/ICOB/5/3#D57), ICOB 5.3.6 R (http://fsahandbook.info/FSA/html/handbook/ICOB/5/3#D63)(1) or ICOB 5.3.8 R (http://fsahandbook.info/FSA/html/handbook/ICOB/5/3#D92) in a durable medium (http://fsahandbook.info/FSA/glossary-html/handbook/Glossary/D?definition=G1286).

Congratulations- you now know more about the cooling-off period than the phonemonkeys at your brokers. :)

[Ceri JC]

Congratulations- you now know more about the cooling-off period than the phonemonkeys at your brokers. :)

LOL! :D

Point 3 would suggest I am only 2 days into the cooling off period. Woohoo!

[Pedro68]

Or ... you could just write a "back-dated" letter of cancellation and pop it in the post ... if (when) they get it AFTER the claimed "14 day cooling off period", blame it on the RM strike ;-) Job done!

[northwind]

Good thinking!

[Ceri JC]

Just spoken to them, they have said they will contact the underwriter. No sign of any additional charges, yet. :)