Ok, so had the RR policy with sureterm since I bought the car, chose to pay monthly for it, spoke to someone about 20 mins ago regarding the cancellation due to selling the car and having my proof of no claims sent to the new insurance company. I've had the current policy for 8 months, so, because I pay monthly as I thought it would be easier, they want £344 to cancel the policy regardless of how long I've had it. All because their monthly payment scheme is sorted by a finance company and not through themselves.

So now I'm having to pay £344 to cancel a policy and clear the credit agreement just to get proof of no claims for the Merc.

So my advice, if you need to pay monthly for insurance, make sure it's not through a credit agreement, my mate suggested get an interest free credit card, bung it all on that then pay it off within the interest free period.

I certainly won't be using Sureterm again though. 2006 Mercedes CLS
1991 Retro-style Mini
But really finding it hard to fight the urge for a S/C...

Last edited by M44K TS on 23rd Aug 2011 3:29pm. Edited 1 time in total

Why not insure the merc with the same company until the end of the current policy, insurance companies are more likely transfer an existing policy to a different car rather then cancelling the policy all together. you may even get a small refund. 
Gone - Range Rover Supercharged 2006

They wouldn't insure me on the Merc. 2006 Mercedes CLS
1991 Retro-style Mini
But really finding it hard to fight the urge for a S/C...

M44K TS wrote:

They wouldn't insure me on the Merc.

Bastards, so they refused to insure your new car, then they charge you the balance of your existing policy. 
Gone - Range Rover Supercharged 2006

surely the last 4 months monthly premium isnt going to be more than the £344 cancellation fee, is it?

Justin, I think it's because it they're a 4x4, motorhome and something else specialist, they were unable to quote me for the Merc. I had that with a few places, don't know if it's a high insurance group or something, but very few places actually quoted me on it.

Stan - Balance of the credit agreement plus they're cancellation fee.

I've just had to bite the bullet and pay it, I need the proof of no claims, only got until the end of this month to get it sent to the new insurers.

I voiced my displeasure in their system and think it's a very sneaky way of taking the monthly payment. It means they get the full 12 months value regardless. 2006 Mercedes CLS
1991 Retro-style Mini
But really finding it hard to fight the urge for a S/C...

crooks

mike.

Just a bit of an update, just had a phone call back from Sureterm after seeing my post on here, (Hi Sureterm, I know you're reading this, Katie needs a pay rise and promotion!) They're reduced the amount I have to pay to end the policy early by about 2/3 which is very fair and much appreciated.


I still stand by my views about not taking monthly payments via a credit agreement and in future, I think I'll be paying it off in one lump sum. 2006 Mercedes CLS
1991 Retro-style Mini
But really finding it hard to fight the urge for a S/C...

best change your title then mark...

refuse to pay the balance and if that means they wont give you your no claims ...well not to worry as you can explain this to your new insurance company and they will demand proof of your no claims on your behalf.........i had the same problem before and that is how i got it sorted

mind you double check first as this was only my experiance and may not be the way they all work "RANGEISM WILL NOT BE TOLERATED"
www.futuresecurityservices.co.uk
Pretlove says , '' I want my car back "

Can't not pay it though, it's a credit agreement so I would only be spiting myself. I'd be hit with late payment fees, marks against my credit score for missed payments etc. 2006 Mercedes CLS
1991 Retro-style Mini
But really finding it hard to fight the urge for a S/C...