Not amused!

[Surf01]

Got a quote from a well known insurance company who is located in the PE21 post code for £271 which I thought was a good deal. Paid deposit of £50 as we were going to take insurance out over 12 months. Changed my mind 2 weeks later and decided to pay it in full today. Balance to pay was over £280!
Seems they added on admininstration charges and another charge to the £271 which took it up to £320 plus. However on the documentation recevied via email it clearly states that my premium is as follows;

Premium £199.50
Ins Tax £ 14.78
Total; £214.28

I have no idea how they managed to get it up to £320 plus. I think I need to request a breakdown as I feel as if I have been swindled! Any one else come across this?

[Predictable Bob]

The trouble is that by taking it over 12 months you entered a credit agreement and the extra is to compensate them for the losses they have incurred by you changing your mind ...

[Hazzo]

You basically signed up to a loan agreement, I did the same once then cancelled and got a bill for £200 in the post, they're still waiting for it. H

[slobodan]

Got a quote from a well known insurance company who is located in the PE21 post code

Them farmer boys will do that to you.

[Surf01]

However I never signed any credit agreement and no DD was ever set up on my account. Anyway if you pay off a credit agreement earlier, you should get a rebate as per consumer law.
I will be asking for a ful breakdown of charges. What is the point of a low quote if ou are going to heap on charges afterwards. No mention was made of these charges at any time.

[BUSHWHACKER]

Mention that you're going to consult the insurances ombudsman, they suddenly become more helpful when they hear that.

[Surf01]

Thanks for reminding me. I need to wait for the breakdown before I can take any action.

[Chillitt]

Was it 2 weeks later you changed your mind or less? I think you have a 14 day cooling off period on that sort of stuff.

[Surf01]

Actually 16 days have passed since implementation of the cover and paying it in full. However I did phone them to query the premimum about 5 days ago and was told that they had made a mistake by stating the vehicle was a 1995 N reg instead of a 1996 N reg. They agreed to keeping it at the original price plus admin fee of about £40 plus another small fee.
Altogether coming to about the £271 as originally quoted. however having paid £50 deposit should have left the outstanding balance at approximately £221. A bit taken about this morning when they wanted £280 plus to settle account. somthing is not right or they have goien back on their word.
I had a cheaper all in quote elsewhere which included admin fees etc and woudl have made a plan to take that quote rather if I had know about all the extras added by the farmer boys.