Shocked at Towergate Mardon

[David Mack]

56 minutes ago, Alan de Enfield said:

That is my point - you have paid 'up-front' so the policy is still in existence until its expiry date or, until cancelled.

Exactly!

 

56 minutes ago, Alan de Enfield said:

Would it not be some sort of fraud, to take money (allbeit in advance) and then not provide cover, or refund the balance for the period when you sell the boat (say) 6 months later ?

No, because at the time you paid, both parties have agreed to a one year contract. The insurers will refund the balance of the premium on request, but may also make an admin charge. If the refund is more than the admin charge you take it. If the admin charge is higher (or if you think it might be), you just do nothing and let the policy continue until its end date. 

[Alan de Enfield]

1 minute ago, David Mack said:

If the admin charge is higher (or if you think it might be), you just do nothing and let the policy continue until its end date. 

 

This is where we seem to differ.

 

If you do nothing then you are paying (have paid in advance) for insurance on a boat you do not own.

[David Mack]

2 minutes ago, Alan de Enfield said:

 

This is where we seem to differ.

 

If you do nothing then you are paying (have paid in advance) for insurance on a boat you do not own.

Indeed. But it's the cheapest option. You no longer own the boat. So the policy won't pay out. So what?

[Pie Eater]

Update

I have this morning (16.08.22) received a letter dated 07.07.22. from Towergate Mardon asking me to arrange payment of the outstanding balance of £17.29.

 

 

[MtB]

7 minutes ago, Pie Eater said:

Update

I have this morning (16.08.22) received a letter dated 07.07.22. from Towergate Mardon asking me to arrange payment of the outstanding balance of £17.29.

 

 

 

 

How about writing back rescinding your cancellation, stating the sale fell through and you require the insurance to continue.

 

[Midnight]

13 minutes ago, Pie Eater said:

Update

I have this morning (16.08.22) received a letter dated 07.07.22. from Towergate Mardon asking me to arrange payment of the outstanding balance of £17.29.

 

 

Tell them there's a service charge for processing their letter of £17.29

[Pie Eater]

Latest update

 

I received a call last week to explain why I was being charged but I told them I still did not agree with them and asked could they forward the details in writing so that I could let the Insurance Ombudsman make a decision which I would abide with.

 

Yesterday I received the letter which stated " We will not be charging the outstanding balance, this has been written off . No further action from you is required ".

 

Common sense prevails. Thank you Towergate Mardon.