Posted on January 30, 2010.
If it isn't my insurance, I paid my rights to fully honor anyway? I had a motor trade policy and to the last 4 months it has been canceled as I could not pay 1200 per month had a couple payments.i claims through all the months that the insurance has been paid, but my broker told me that they do honourd to be less than the rest of the insurance was contacted paid.i those who funded insurance, I pay the monthly payments usually I owe them, but my broker says I can not get insurance or a new process my request until I've paid full.is is true, because if im surly pay for insurance I surly they could never find me a policy that I can pay well and then be covered with lead and trade.what should I do or say to them.
If you have broken the contract to pay the full amount in time spacified, they have the right to cancel any outstanding claims.You know what insurance companies are similar, any excuse to escape liability.
You leave your forfeiture for non-payment of a claim in progress? This was not the thing to do. You can cancel the insurance, if you really want, but let it lapse is not the way forward. You owe them, and if your broker told you not to file your application is processed until you take is probably the way it is.
What should you say or do? pay them, and say "Sorry it's too late."
You want easy it was to save money, we would all do this tour. When you take a policy is generally from 1 -12 months if you took 12 months on a policy that you have entered a contract that you have chosen to break it. I would say that your "claims" are now null and void ......... Check with local authorities IPC
You need to read the fine print of the policy. My advice would be to see Ctizen's Advice Bureau. They may be able to put you in touch with a competent lawyer
Legally, as the insurance was in force at the time of the incident the insurance company have to honor claims by you (do not say if they were property damage or liability) and your broker must know.
Also: I do not think that the insurer may offsetting claims settlements against the premium due.
That said, I fully understand why the dealer is not willing to hold more coverage if you do not have the financial means to organize and pay your insurance premium. I do not know the financial situation, but you can be on a "recourse" financing plan so that the broker must repay the amount outstanding to the finance company - obvoiusly this will not make them very happy.
You can file a complaint (depending on the size of your business) against broker - see their complaint procedure in detail and could go to the FOS if not resolved to your satisfaction.
I usually refer clients to http://www.fsa.gov.uk/Pages/Doing/Regula ... which sets the guidelines for the treatment of FSA customers fairly.
