To the original poster:
I apologise for any inconvenience surrounding your renewal. We ensure that the best possible quotation is offered when we issue the renewal invitation. This is based on our “known market”, which consists of the insurance companies that we deal with. If a customer makes us aware of a more competitive / appropriate policy elsewhere, we are happy to compete as we value their custom.
If our initial invitation based on the policies being offered by the insurance companies that we deal with is not the most competitive, this is not an error on our part as we would not be aware of the policies being offered elsewhere. If we are made aware of a larger market (alternative insurers) and a more competitive premium we will always attempt to compete.
Insurance companies do not automatically issue proportionate refunds on cancellation. In fact there is no legal requirement for an insurer to issue a refund, only if they have indicated it is available. Classic policies will typically issue no cancellation refund after the first 14 days and many other insurers apply “short period”, non-proportionate refunds, for example they may retain 25% of the annual premium for the first months cover and the whole annual premium if cover has been in force over 8 months.
The insurance company will confirm their charges in their policy booklet to ensure you are aware of the terms prior to cancellation. Furthermore, we confirm our terms and condition in respect of cancellation prior to inception and within our initial advices. You are entitled to a cooling-off period if you are not satisfied within any of the terms and condition of the insurance company or broker.
Adrian Flux Insurance would not have added £100 to a policy because there was a break in cover. As explained previously, we offer the best policy available to us at the time. An insurance company does not have to honour a renewal premium if the customer chose to allow their policy to lapse. It would appear that when you chose to insure the vehicle again the premiums were higher.
Regards,
Dan Clark,
Adrian Flux Insurance Services