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Insurance Query

  • 01-02-2007 12:24pm
    #1
    Closed Accounts Posts: 594 ✭✭✭


    Hi all,

    Let's say you've just taken out a motor insurance policy & next week you receive a better quote from somebody else. Can you cancel with your current insurer and then take out a new policy with the other?


Comments

  • Registered Users, Registered Users 2 Posts: 68,317 ✭✭✭✭seamus


    Depends on the insurance company.

    I know some companies will allow you to pull out (minus their "Administration" fee) within the first 14 days (or something similar), whereas other insurers will take 50% of the premium you've paid if you pull out in the first 3 months. It should all be in the booklet, or failing that, give them a ring.


  • Registered Users, Registered Users 2 Posts: 670 ✭✭✭C.D.


    AFAIK There is a legal requirement for a "cooling off" period. I think the minimum period is 10 days or so- you would be able to get a full refund minus the adminitration fee during this period.


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