….which in my mind is nothing shy of completely and utterly disgusting, disgraceful and needs to be outlawed.
I called my insurance company today to cancel a policy on a car I’ve sold (not the Tesla) and was informed I would still need to pay the remainder of the fee for the year (some £130). I asked why and they said that a company had taken out a loan to pay the insurance company in full and I now owe them the full balance even though I’m selling the car. Previously if I’ve cancelled a policy I stop paying and the cover stops! But not anymore….
The person I was speaking with has sold insurance and worked in that area for 30 years (so he said) and had also been caught out by this SCAM as he didn’t know it was a thing so had the same issue. Apparently it’s becoming more and more widespread and employed my lots of companies.
So, if you pay monthly, you could be the victim of the latest way of big companies robbing your hard earned cash by deceitful methods. I utterly utterly hate and despise the world we live in.
I called my insurance company today to cancel a policy on a car I’ve sold (not the Tesla) and was informed I would still need to pay the remainder of the fee for the year (some £130). I asked why and they said that a company had taken out a loan to pay the insurance company in full and I now owe them the full balance even though I’m selling the car. Previously if I’ve cancelled a policy I stop paying and the cover stops! But not anymore….
The person I was speaking with has sold insurance and worked in that area for 30 years (so he said) and had also been caught out by this SCAM as he didn’t know it was a thing so had the same issue. Apparently it’s becoming more and more widespread and employed my lots of companies.
So, if you pay monthly, you could be the victim of the latest way of big companies robbing your hard earned cash by deceitful methods. I utterly utterly hate and despise the world we live in.