Cancelling before my insurer cancels the insurance

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siyavashoo
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#1
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Long story short, I was speeding and my insurance company sent me an email today saying they will cancel my insurance in 7 days and they have already started the process and blah blah.

I called them few minutes later and asked them to cancel it because i found a better deal online, the guy over the phone didnt say anything about my insurance being already cancelled or its in process of being cancelled!

So now I'm wondering if I have to declare that my insurance has been cancelled by insurance company or not?

If I call insurance brokers and explain them the situation, would they be able to look at the database and tell me whether I will be there or not??

I was also thinking that maybe after 7 days they will update the database but by that time there is no insurance in my name :]

any help is appreciated
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uberteknik
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(Original post by siyavashoo)
Long story short, I was speeding and my insurance company sent me an email today saying they will cancel my insurance in 7 days and they have already started the process and blah blah.

I called them few minutes later and asked them to cancel it because i found a better deal online, the guy over the phone didnt say anything about my insurance being already cancelled or its in process of being cancelled!

So now I'm wondering if I have to declare that my insurance has been cancelled by insurance company or not?

If I call insurance brokers and explain them the situation, would they be able to look at the database and tell me whether I will be there or not??

I was also thinking that maybe after 7 days they will update the database but by that time there is no insurance in my name :]

any help is appreciated
An insurance company will only cancel insurance if you fail to pay your premiums, fail to disclose information, or you provided false information in the first instance (fraud).

Thing is, if you were caught speeding and failed to declare this to the insurance company, then your insurance is invalidated because it is a change to your circumstances/risk status and therefore how your premiums are calculated. The fact that the insurance company found out before you informed them, means you will be deemed a high risk for poor driving, fraudulent behaviour and perhaps fraudulent future claims - like fake whiplash injuries etc.

Even knowing that you were rumbled, you are still seeking ways to hide information for renewing your insurance and obtain a lower premium.

Soz. Your records are already on the database. The seven days notice is required to give you time to obtain alternative insurance cover and avoid you potentially driving uninsured.

Expensive mistake.
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siyavashoo
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(Original post by uberteknik)
An insurance company will only cancel insurance if you fail to pay your premiums, fail to disclose information, or you provided false information in the first instance (fraud).

Thing is, if you were caught speeding and failed to declare this to the insurance company, then your insurance is invalidated because it is a change to your circumstances/risk status and therefore how your premiums are calculated. The fact that the insurance company found out before you informed them, means you will be deemed a high risk for poor driving, fraudulent behaviour and perhaps fraudulent future claims - like fake whiplash injuries etc.

Even knowing that you were rumbled, you are still seeking ways to hide information for renewing your insurance and obtain a lower premium.

Soz. Your records are already on the database. The seven days notice is required to give you time to obtain alternative insurance cover and avoid you potentially driving uninsured.

Expensive mistake.

Hmm not sure what you mean by " if you were caught speeding and failed to declare this to the insurance company". I wasnt caught speeding or whatever! I have a blackbox and they keep track of my speed and etc so I didnt have to tell them anything
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IWMTom
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(Original post by siyavashoo)
Long story short, I was speeding and my insurance company sent me an email today saying they will cancel my insurance in 7 days and they have already started the process and blah blah.

I called them few minutes later and asked them to cancel it because i found a better deal online, the guy over the phone didnt say anything about my insurance being already cancelled or its in process of being cancelled!

So now I'm wondering if I have to declare that my insurance has been cancelled by insurance company or not?

If I call insurance brokers and explain them the situation, would they be able to look at the database and tell me whether I will be there or not??

I was also thinking that maybe after 7 days they will update the database but by that time there is no insurance in my name :]

any help is appreciated
In theory, no, you don't have to declare it - do bear in mind though that the insurer you used and any in its group (or using the same underwriter) may bump your premiums up if you ever want to use them again, or simply refuse to insure you.
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maeger
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You shouldn't have to declare it because YOU where the one that cancelled it. However, the fact that they have told you that the "process has been started" makes me think you should check somehow, although it could be just a load of BS.

Someone I know was in a similar situation, cancelled the policy before they did, and actually managed to get confirmation from his original insurer saying that his record was not tainted. Ultimately depends on their wording, because his insurer sent a message saying that the cancellation process would start on the x day of this month.
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uberteknik
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(Original post by siyavashoo)
Hmm not sure what you mean by " if you were caught speeding and failed to declare this to the insurance company". I wasnt caught speeding or whatever! I have a blackbox and they keep track of my speed and etc so I didnt have to tell them anything
OK. That was not clear from your original post where you stated 'I was speeding'.

The fact remains that they cancelled your insurance and that fact will already be recorded. Any new insurance specifically askes the question "have you ever been declined for insurance or had your policy cancelled?".

Answering incorrectly may be very costly if a subsequent claim is invoked at a later date. Only then will you find out if you are uninsured. If your fault, the other parties insurance will seek uninsured loss recovery from you by taking you to court. Which could end in County Court Judgements, trashed credit history, sky high insurance premiums and even potential police prosecution.
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maeger
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Scare mongering doesn't help when OP wants genuine answers. They already know all the consequences that you've literally spent typing two posts about, which is why they made this topic in the first place. As stated before, their insurance hasn't cancelled the policy, as OP cancelled it before them. Therefore, OP shouldn't have to declare it, and all these dire situations you keep on mentioning should not happen.
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uberteknik
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(Original post by maeger)
Scare mongering doesn't help when OP wants genuine answers. They already know all the consequences that you've literally spent typing two posts about, which is why they made this topic in the first place. As stated before, their insurance hasn't cancelled the policy, as OP cancelled it before them. Therefore, OP shouldn't have to declare it, and all these dire situations you keep on mentioning should not happen.
In your humble opinion of course.

It's up to the OP to decide whether they are prepared to take the risk. Simples.
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siyavashoo
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Thank you for all the responses. I was thinking of calling my old insurance company and asking them what is the status of my previous insurance?
They either say cancelled by us or cancelled by customer. Is that a good idea?
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IWMTom
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(Original post by siyavashoo)
Thank you for all the responses. I was thinking of calling my old insurance company and asking them what is the status of my previous insurance?
They either say cancelled by us or cancelled by customer. Is that a good idea?
It really shouldn't be a problem. I personally don't appreciate the fact this loophole exists, but, it is what it is.
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Yorkie120
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(Original post by siyavashoo)
Thank you for all the responses. I was thinking of calling my old insurance company and asking them what is the status of my previous insurance?
They either say cancelled by us or cancelled by customer. Is that a good idea?
Yes - I would definitely do this, at the very least you will know where you stand and it will ease your worrying. I used to work for an insurance company and they are generally pretty accommodating in regards to this type of thing.

We also only captured down policies that were cancelled due to 'non-disclosure' on our systems - so if it was cancelled due to missed premium, or any other reason, this did not need to be noted under the cancellation question. So, even if your insurance company did cancel your insurance it is not the be all end all.
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maeger
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I'd try it, perhaps play the ignorance card. "I'm unsure if my previous request to cancel my own insurance has gone through, could you clarify?" might do the trick. Getting it in writing might be even better, such as an email for proof. In fact, I implore you to get it in writing, these companies are sly, I've had many occasions where something said between me and an agent on the phone has been completely disregarded later in an email/letter.
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