Collingwood Insurance Services UK Ltd
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£40 cancellation fee
The insurance process was fine and we didn't have to make any claims so I can't comment on that. But when you take an annual policy and you pass your test or simply don't want to renew at the end of the year they charge you £40 for the privilege of doing this. As far as I can see there's no work involved, so who knows what the £40 is covering. It's in the small print, so my own fault for not reading this, but I've had years of insurance before taking this on for my daughter and never had to pay a cancellation fee for not renewing or for cancelling if you paid the policy in full. They effectively get a few months free from you when you say you've passed your test (as you don't get any refund on your annual payment) and also get £40!!! Ridiculous. After Collingwood's response I want to clarify the point of my review. I am warning new customers of this fee. You can't avoid it so it's effectively a hidden fee and I fee it is an underhand way of charging, that most new customers won't be aware of. They would charge it upfront if it was a logical, fair fee, because it can't be avoided on an annual policy. Let's be honest, no one reads every single sentence of the small print - for a start you need a legal degree for some of it and you'd also need a lot of time! So I am warning new customers to add this £40 to your budgeting, or avoid Collingwood altogether.