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Posted: Sat Oct 17, 2015 8:54 am
by Tanveer
I started my car insurance with Coverbox a few weeks ago, and gave them approx. £250 deposit. I then received a letter from premium credit stating that I had failed the credit check. This is even though I have had insurance for numerous years without any issues. Due to this Coverbox has kept £175 and returned me the remainder. Am really annoyed with this, why give the insurance before doing the check! Seems like a ploy to keep your money for nothing. I will never go with Coverbox again, what a bunch of cowboys!
Posted: Sat Oct 17, 2015 9:02 am
by kallis3
Hi and welcome,
I've never had to give a deposit for my insurance, just paid monthly with no problems.
I presume they are keeping this money as an 'admin' fee? I'd be inclined to demand they return the rest of the money as they have not provided you with a service.
Posted: Sat Oct 17, 2015 10:16 am
by longslog101
Google distance selling rules, anyone who buys anything not in person has a right to refund within certain amount of days,
can't remember if it's 7 or 14 days (irrespective of what their terms say).
Posted: Sat Oct 17, 2015 10:20 am
by longslog101
would appear distance selling rules are now consumer contracts regulations, Google that instead
Posted: Sun Oct 18, 2015 8:02 am
by Shining
Hi and welcome, never heard of this either but if it's admin fees it's a steep cost!
Longslog offers good advice, do take a look at the consumer contracts and I hope you get some money returned.
Posted: Sun Oct 18, 2015 12:59 pm
by ilikewatch
You say that you've been insured for "a few weeks" - is some of the money they've retained being used to pay for the period of cover you've used?
Be very careful going forward - will you now have to declare to every future insurer that you have had a policy cancelled? If so expect to pay heavily loaded premiums. Hopefully, they haven't cancelled the policy, just the finance - so that you don't have to declare this.
Posted: Mon Oct 19, 2015 10:31 am
by Lisa Thomas
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by ilikewatch
You say that you've been insured for "a few weeks" - is some of the money they've retained being used to pay for the period of cover you've used?
Be very careful going forward - will you now have to declare to every future insurer that you have had a policy cancelled? If so expect to pay heavily loaded premiums. Hopefully, they haven't cancelled the policy, just the finance - so that you don't have to declare this.
Good point and advice.