Insurance for new drivers, stupidly cheap.

Do the insurance have to inform you if they cancel your policy or can they just cancel and thats it?
 
Be funny if some person (young barry boy) buys a high insurance group car takes out the policy then it gets cancelled.

If its too goo to be true...etc. plus you will have to tick or confirm you agree to the terms and conditions so will have no leg to stand on.
 
[TW]Fox;13276976 said:
Effectively, your insurer can cancel the policy if they've made a mistake - at ANY TIME - provided they return to you, pro rata, the remaining premium.
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Surely once you've been given a quote and taken out a policy it is a contract between you and that company?
How is it any different if a monkey over the phone tells me that my insurance is only 50p as opposed to this?
 
Did you not read my post? In the contract between you there is a clause allowing them to cancel your policy as long as they give you 7 days notice in writing.
 
OllyM said:
Did you not read my post? In the contract between you there is a clause allowing them to cancel your policy as long as they give you 7 days notice in writing.
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Thing is though, unless this clause has been tested in court it is not worth much. It is the same as the EULA on software, and a number of them (in USA though) have been found to be unconstitutional.


The insurance company has no way of knowing what the text is that I signed unless they have a witness, or send a printed copy AND then proof-read it. Because for all they know I can have edited their terms and conditions before signing it.
 
Of course they can do it. They give you the right to cancel the policy anyway and insurers have in the past used this clause with no problems.
 
But full cover WILL be in force until they notify you in writing that they are going to cancel the policy.
They cannot just cancel/void or even back date a cancellation

I'm not disputing the fact that they can and do cancel policies.
Just that until they do it is a legally binding contract. and FULL cover will be inforce. until they cancel the contract
 
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rypt said:
Thing is though, unless this clause has been tested in court it is not worth much. It is the same as the EULA on software, and a number of them (in USA though) have been found to be unconstitutional.
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There is precedent though - read my previous posts. An insurer has done it before without it being challenged in court.
 
They could maybe cancel the policy whenever they wanted to, however until they do, you are fully covered and can claim if needed, so comprehensive cover is fine.. I say maybe because in that sort of circumstance the fsa tends to side with the customer..

They can't void your policy for an error which isn't yours. If the broker has made the error then that isn't your fault. The fos would certainly side with the customer if the insurer attempted to do this.

Edit: Forgot to say. They could possibly attempt to claim that you were fraudulent by using this to obtain a cheaper premium but since they have no way to prove its the case then really they are stuck :)
 
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I have braided hoses on my 205 anyway, and i was just randomly doing a quote on comparethemarket :O :D
 
I dont think they could class you as being fraudulant if you do actually have braided hoses and chose to take them up on their cheap offer that has been up there since at least december.
 
MikeHunt79 said:
The thing is, braided hoses do make your (a little) safer :D
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But also you are likely to be of a certain mindset, if you do have braided hoses. This assumptions generally makes the quote go up!

I'm shocked that this thread isn't at the top of the first page.

I'm considering sticking some of my savings into something cheap and fast for a few months until this exploit is wound up.

183 quid fully comp on a Rover Coupe Turbo/200SX/MR2 Turbo

May as well take advantage for a couple of months, no?

As long as I stick a set of braided hoses on whatever I buy, I fail to see how they can 'void' the policy... cancel with due notice as per the agreement, yes, but cancel, I just can't see it?
 
Took the Policy out on Monday, started on Tuesday and got the documents in the post today.

Everything looks perfectly normal, all details are correct for me and the car. Looks like I won't even have to buy any braided hoses as they aren't listed under my modifications - looking at the policy, yet the abnormally low premium still is the same.

May well go **** up some in the future, but I'm going to ride my luck for now.
 
Shimmy said:
May well go **** up some in the future, but I'm going to ride my luck for now.
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You'll only find out if it goes "**** up" if you crash your car and kill someone (or worse and even more expensively, disable them for life), and you find your insurance company disowns you for providing them with false specifications about the car.

This means they won't cover the costs, and you will be personally liable to pay (in the worse situation) > £1m in care costs and damages.
 
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