1 reviews | Active since Aug 2012
misleading info on cancellation
I have recently cancelled my car insurance policy with Prime Meridian,upon reading the policy documents which state: Can I cancel my PRIME MOTORTHRIFT policy? after the FAQ's section<br> Yes. You may elect to cancel your PRIME MOTORTHRIFT policy with immediate effect. In all other instances, your request for cancellation will take effect on the<br> day immediately preceding your next debit order date. Any scheduled premiums that cannot be withdrawn which are successfully collected after cancellation<br> will be refunded. Please note that the Insurer is also able to cancel your policy without explanation upon 30 days notice. When I cancelled I was told that I cannot get my refund on payments I had already made over the 8 months i had successfuly paid,and it should have been mentioned on the documents that you cannot get your premiums back even if you have paid because you are covered for the risk but I cannot find any of that on the documents and I have never made any claim at all until cancellation day last week
Thank you for taking the time to raise your concerns with us.
It would seem as if you might have misunderstood the terms of the policy quoted above. Our records does not reflect any premiums received after cancellation of your policy and as a result, no refund is due to you. In addition, this particular provision is made for policyholders who elects to cancel their policy within 44 days of applying for cover.
Unfortunately, the nature of short term insurance is of such that each monthly premium provides cover for the following month, regardless whether claims are received or not. As a result, even though no claims were received on your particular policy, you enjoyed cover for accidental write-off, theft, hi-jack and natural disaster while the policy was in force.
Nevertheless, your complaint is important to us and a member of our Client Representation department will be in contact with you soon to explain our position herein.
Assuring you of our continued best endeavours.
Kind Regards,
The PMD Team
Thank you for taking the time to raise your concerns with us.
It would seem as if you might have misunderstood the terms of the policy quoted above. Our records does not reflect any premiums received after cancellation of your policy and as a result, no refund is due to you. In addition, this particular provision is made for policyholders who elects to cancel their policy within 44 days of applying for cover.
Unfortunately, the nature of short term insurance is of such that each monthly premium provides cover for the following month, regardless whether claims are received or not. As a result, even though no claims were received on your particular policy, you enjoyed cover for accidental write-off, theft, hi-jack and natural disaster while the policy was in force.
Nevertheless, your complaint is important to us and a member of our Client Representation department will be in contact with you soon to explain our position herein.
Assuring you of our continued best endeavours.
Kind Regards,
The PMD Team