Rip-Off Merchants Car Insurance

I called hours after taking out a car insurance policy online read the T+C's that relayed to cancellation. Saw there was a 14 day cooling of period by which I may be charged £7.50 if I changed my mind.
I did have a change of heart and called your service centre and spoke to an agent who explained that there was a £49 penalty charge that the company were within their rights to impose if I wished to cancel. I thought great that to me sounds like it is discretionary and as I had only taken out the policy hours before you would indeed waiver this fee.
No he informed me I would be charged £49 not at all discretionary.
This is disgusting being treated like this, it is an utter Rip-Off.
My initial impression of One Call is now tainted and I just hope your customer service if it ever came to making a claim is dealt with more sympathetically.
How can you impose such a hefty penalty when the only reason for me coming to you was for the price.
Not happy and definitely will not be recommending you to anyone I like.