Chris Knott cancellation charges are CRAZY

E

ed80

Member
 Bristol
Just called Chris Knott to discuss switching my policy from my Z4 to the Alpine I am picking up next week. They were not able to give a competitive quote, so I asked how I would cancel the existing policy. Turns out that there is a total cancellation charge of £109.38, which is a bit of a kick in the teeth.

Something to bear in mind if you are looking for a policy with them.
 
ed80 said:
Just called Chris Knott to discuss switching my policy from my Z4 to the Alpine I am picking up next week. They were not able to give a competitive quote, so I asked how I would cancel the existing policy. Turns out that there is a total cancellation charge of £109.38, which is a bit of a kick in the teeth.

Something to bear in mind if you are looking for a policy with them.
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Is the higher quote less taking into account the cancellation charge? Maybe suck it up, transfer it and then change at the expiry?
 
Bombur said:
Is the higher quote less taking into account the cancellation charge? Maybe suck it up, transfer it and then change at the expiry?
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They weren't willing to quote.

@ed80 I'd point this out to them, as they cannot offer you cover they should waive the cancellation charge.
 
Insurance is a total scam. I recently cancelled a motorcycle insurance policy that I took out in August for £151 odd. They stated I wouldn't get anything back and I that I would owe them a further £7 to cancel the policy but would wavier it as a gesture of good will lol.

Lesson learned, avoid brokers and go direct with a known insurer if you are likely to cancel or amend policies throughout the covered term.
 
Why is it always the same companies that have ridiculous cancellation fees, are also the same ones that can't offer a competitive quote if you change car midterm?

Then when you need a new policy they suddenly become competitive again?

It looks like it's actually a money making tactic. They must make more out of cancellation fees than profit on the policy.
 
Beerman said:
They must make more out of cancellation fees than profit on the policy.
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I think they do, yes.

When they say they give your premium back 'pro rata' I presume their definition of that is different to mine.

Seems like the general consensus with insurance is.....9 months or more left on the policy you get around 60% less 'fees'. 6 months to 3 months you get 30% less fees. Below 3 months you get sweet feck all but they wave the fees otherwise you owe them money.
 
I thought the cancellation charges had to be published in your policy document?

I know CK are a broker, so you can't see that until you take out a policy as it will depend on the insurer/underwriter they use, but you have the right to read and reject within the 14-day cooling off period (which only starts once you receive the documents), if you're not happy with the T&Cs.

This is what mine says...
Fees.jpg
 
mmm-five said:
I thought the cancellation charges had to be published in your policy document?

I know CK are a broker, so you can't see that until you take out a policy as it will depend on the insurer/underwriter they use, but you have the right to read and reject within the 14-day cooling off period (which only starts once you receive the documents), if you're not happy with the T&Cs.

This is what mine says...
View attachment 285483
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I don't have any of that on any of my five insurance policies. No mention of cancellation fee amounts anywhere.

On the topic of CK. I have gone to them several times for quotes on various cars and they have never even been remotely competitive for me. My insurance is cheap (don't know why), but not with them it isn't. They have ALWAYS quoted with 'Highway'. I get the impression they are the only insurer they use.
 
Pondrew said:
I don't have any of that on any of my five insurance policies. No mention of cancellation fee amounts anywhere.

On the topic of CK. I have gone to them several times for quotes on various cars and they have never even been remotely competitive for me. My insurance is cheap (don't know why), but not with them it isn't. They have ALWAYS quoted with 'Highway'. I get the impression they are the only insurer they use.
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As far as I know, they are legally required to CLEARLY inform you of any charges (admin/cancellation/etc.) upfront. If they don't then you could challenge/threaten to challenge those charges with them and the FCA (whether anyone can be bothered is another matter).

It's normally called something like "Schedule of Fees", so I'd definitely ask/challenge.

However, you're in Spaldinski, which is almost as bad as Basingrad, so you deserve it - I'm in an obviously more trustworthy Liverpool postcode :ROFLMAO:

(no, they won't quote for an M in my postcode)
 
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I've used CK a few times as bot my last two Z4s were modified, and while they often gave competitive quotes I never got a competitive renewal price!

They used Highway for my 3.0Si and then some outfit called ERS, but both times I have used them for my MC they have placed it with LV.
 
I’m with them for both my cars, I previously used Adrian Flux but was put off by their hard sell tactics.
The other thing is that the arrangement fee they take upfront is completely non refundable I understand.
 
I used CK for 7 or 8 years on various BMW’s, they used to be excellent on customer service and competitive on price.

At renewal this year they were neither (and quietly dropping driving other cars from the policy and then being evasive, borderline untruthful, about the reasons).

I’d always recommend them on forums, not any more.
 
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