One of the UK’s largest motor insurers will cancel more than 100,000 motor and car insurance policies by the end of the month.
Despite promising to honor 105,000 active policies after falling into administration last year, MCE Insurance Company said it will now cancel them within the next few days.
When do MCE policies end?
For policies in effect before November 9, 2021, auto or truck coverage will end at midnight tomorrow (January 14), Money saver reported.
Insurance policies for motorbikes and scooters in effect before 9/11 will end at midnight on January 31.
Customers need to find an alternative policy to continue driving their vehicle legally.
At the time of the outage on November 19, MCE had no contact with its customers.
Affected customers with this month’s termination policy have now been contacted.
Can I get a refund?
All MCE policyholders with outstanding policies taken prior to November 9, 2021 will receive a partial refund.
In line with the Financial Services Compensation Scheme (FSCS), affected customers will be reimbursed at the rate of 90% of any unused months remaining under their policy.
You don’t have to do anything – a check will be sent from the FSCS.
People who have used MCE policies since November 9, 2021 will not be affected as their coverage is covered by Saber Insurance Group, not MCE.
If you have any questions about your refund, FSCS’s online chat service will be able to help.
What should I do if I am having a complaint with the MCE?
You don’t have to do anything – but instead, FSCS will contact you about your MCE request.
That’s because the existing requests have been moved into the plan, which is now processing them.
If your request is valid, FSCS will pay.
And if you need to appeal before your policy is cancelled, contact MCE as soon as possible.
You can do so using live chat tool, email email@example.com or call 0193 335 1361.
When an insurance provider fails, their policies either continue under the supervision of a new insurer or end prematurely.
If your policy ends early, FSCS will protect 90% or 100% of your premium rate until the end of the policy, depending on the terms.
If you are an affected MCE customer in need of new car insurance, this is where you can find the best insurance rates.
Drivers of cars and motorbikes have also been advised how to reduce their MOT costs.
We pay for your stories!
Do you have a story for The Sun Online Money team?
https://www.thesun.ie/motors/8200121/mce-cancels-motorbike-car-insurance-refund/ Thousands of motorbike insurance policies are being CANCELLED when MCE comes into operation