Will it affect my credit rating?

[Fallout]

Swinton currently charge me 3.99 per month for some worthless breakdown cover. At some point I said yes to it because it was so cheap and because its so cheap I've never got round to cancelling it. I decided to phone them today but after 10 mins on hold I gave up.

Since it's not actual credit (i.e. Its not a loan repayment or a contract) do you think I can just cancel the direct debit from my online banking or do you think they'll mark my credit rating?

[TamSV]

I'd send them an e-mail to cancel it.

Many, though not all, insurance instalment schemes are actually an unsecured loan arranged through a third party. A default can result in a further admin charge being made and a number of letters being sent.

I don't know if they'll put it on your credit rating. I suspect not and they're not likely to pursue it too hard for such a small amount of money. Still worth formally cancelling the cover to avoid any hassle.

Plus, it's more polite.

I've got their comprehensive one, it's actually very good, covers me in any vehicle, car or bike.

Best thing to do is ring their normal renewals line or something then claim you've rang wrong number, they will transfer you then.

[andrewsmith]

Originally Posted by Specialone

I've got their comprehensive one, it's actually very good, covers me in any vehicle, car or bike.

Best thing to do is ring their normal renewals line or something then claim you've rang wrong number, they will transfer you then.

It is a really good! Have used a abused mine

written with a brio

Yep I got my mates car recovered to my house after a pityful attempt at crossing water in his car, I was a passenger.

[SIII]

Contact and ask how much to cancel. Swinton like to charge all of the remaining balance and a cancellation fee. Phone freephone quote line and get transfer or look on " say no to 0870" for a national number, usually answered quicker for some reason.

I cancelled my bike insurance with Swinton because to change from the SV to the Gixxer they wanted an additional £35 a month !!! (on top of £19 I already was paying). We ended up having a bit of a fight and tried to charge me a £50 cancellation fee. Told them I wouldn't pay and eventually they cancelled it.

Would have been cheaper just to pay the policy to the end and not tell them!

[Fallout]

There's no contract or anything to cancel imo. It's been running for over a year and I've since changed insurance company and it's still going. I bet there are loads of mugs like me who haven't cancelled because it's so cheap, but also have a breakdown policy with someone else.

Perhaps the new one or comprehensive one is good, but I never got any documentation or anything. The guy just gave me a reference number over the phone and set up the direct debit. Proper cheap!!

I'll write them an email and just cancel the direct debit. I can't see how they can possibly mark my credit rating when there was no contract, it's been running for ages, and I'm fairly sure when I said yes to it, he said I could cancel at any time.

[punyXpress]

Hey, Fallout - you know when your next breakdown is going to be, don't you

[Fallout]

I don't break down, I merely coast to a halt when I've decided I fancy a push.

It depends whether the original premium was annual or monthly. If it was an annual premium divided by 12 months (potentially with interest added) then they will be able to charge you for cancellation. If it is a monthly premium (which is more likely these days) then stopping your monthly premium will mean that cover automatically lapses and you will have no more to pay.