SHAME: MCE insurance

So I paid £760 for renewal with MCE back in February, now 5 months passed, I wanna cancel the policy, and they only willing to refund me £183.56…and will take 60-90 days for the money to come down…WTF!? (FUMING) Is it normal or they are taking the piss? I never cancel an insurance policy before.

It is normal and they are taking the piss. Welcome to the world of insurance ripoffs.

By the way, you can go to the financial ombudsman to start a complaint. In my experience that is worthwhile and costs you nothing…

wow, that sounds like a real kick in the stones.

Well, I just hav to bite the bullet…I decide to leave UK for good at 1st of Aug and bought flight ticket already, now the 60-90 days talking is reli annoying, I don’t have that long to wait…and wonder why it takes so long!? :crazy:

so that they can profit of the interest a bit longer :ermm:

I dont think its interest mate, even if they where lucky it would be less than £10.

I agree with Rixxy. I think it’s a simply case of legalised theft.

Of coure it’s the interest! If you think of how many people have a policy with them and how much money is tied up in their accounts.
I know someone who is a loss adjustor & he openly admitted to me that all insurance companies delay payment for as long as possible. One case he dealt with was worth millions (shop fire) and they delayed payment for years. They all went out and had a massive pi $$ up after because it had earned them so much in interest.