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Twice in the last couple of weeks I have realised that two different insurance policies (car and rivercraft) auto-renewed and payments were taken from my bank account. I had no idea that such an arrangement was included in the small print when I took out the policies a year ago and although I have received full refunds, it's easier not to notice such things happening unless you closely examine your outgoings.
Just be warned, old fruits.
You must have missed a renewal notice (or reminder) of some sort as they can't legally enter into an arrangement with you that lasts longer than a year. They are OK if they have simply reminded you that your contract is coming up for renewal and they will renew it unless you tell them otherwise.
I insured my car with the same company last year , everybody was telling me to shop around and I found out mine , aviva , was the cheapest
So for the next few years I am sticking with them , I havnt got the time to arse about on comparison websites
They usually send you the new quote 2 weeks before renewal and if you don't contact them to stop it they will auto renew.Quote:
Originally Posted by Taunton Blue Genie
You are lucky to get a full refund as they will say you didn't do it before the renewal date
Their defence was that I received an offer that I didn't respond to and that the renewal kicked in as a result. For my part, I did not accept the offer and therefore considered that no contract was entered into. The money was taken from my account in the first instance whatever.Quote:
Originally Posted by JumpersforGoalposts
Good post TBG - I got done by an insurance company taking a full years £ policy when I had switched to a cheaper vendor and had not noticed :facepalm:
The companies love people like you and tend to overcharge you on renewal as a result. For the best prices look for quotes 3 weeks before your current policies expire.Quote:
Originally Posted by SLUDGE FACTORY
I'm like a mutha to you lot :-)Quote:
Originally Posted by Chris Pontprennau Blues
Mother - oor I get itQuote:
Originally Posted by Taunton Blue Genie
That's too philosophical a question to respond to while I am watch the Tour de France highlights...Quote:
Originally Posted by Chris Pontprennau Blues
Quick question regarding car insurance. I've just had a price from my current insurer which I'm going to take. It says it will auto renew on said date. Question is, I have a new bank card as the expiry date ran out on the other one a couple of months ago. Will they still be able to take payment (I pay it in full every year) or will I have to give them the details of my new card?
If it's direct debit then no need to do anything as its the same account as your old card.Quote:
Originally Posted by valleys caveman
The best thing to do is put these auto renew dates in your diary and 2/3 weeks before the auto renewal kicks in ring them up to cancel.
Miraculously they always have a "special offer or managers special on today" and ask you to hold on for a moment and they come back to you trumping any low price offer you've had elswhere.
Just did it yesterday on my home insurance and got 35% knocked off the auto' renewal price. They just rely on the unorganised to make their extra profits. Don't let emm' boys and girls!
I’ve had something similar with my Energy bills, with Bulb, they increased the monthly bill by £97 by stealth.
Don’t forget that a transaction of this nature is covered by the ‘cooling off period’ rule, so you can still claw back the money, which should be a minimum of 14 days after the renewal date.Quote:
Originally Posted by willo1927
I can deal with a little increase every year to save fecking aboutQuote:
Originally Posted by Taunton Blue Genie
No quite sure why you think an expired card will work but there you go. They will try and take it on the renewal date, it will fail due to the card expiry and they will presumably contact you but in the meantime, the policy could expire and you will be uninsured. You must therefore contact them before the renewal date, assuming you want to continue the policy.Quote:
Originally Posted by valleys caveman
That reply is a bit misleading. The card he used to pay has expired but is on auto renew. They will therefore try to use the same card. No mention of direct debits in the post.Quote:
Originally Posted by willo1927
Part of the DPA process, is the marketing process attached to it and how they communicate with them.
You have to either opt in too our out of contact by post (depends on which way they word it).
If it’s paperless the renewal reminder then that could have ended up in your junk/spam folder.
The onus is on you to remember and act.
What's a diary? :shrug:Quote:
Originally Posted by lincoln blue
A direct debit uses sort code and account number, which stay the same.Quote:
Originally Posted by dml1954
I have one bill that goes out on a Saturday each week which is an "automated card payment" (sure its called that) and as this ISN'T a DD I need to update my card details if they change.
Hope this helps.
My wife's car insurance automatically renewed a couple of months ago. She was able to cancel and get a refund.Quote:
Originally Posted by JumpersforGoalposts
Perhaps it's something some insurance companies are now doing, adding an automatic renewal to the contract.
Thinking about it.
Car insurance is compulsory and law.
Maybe it’s a duty of care for those that could forget.
My house insurance does not auto renew as that’s not law only perhaps a T&C of a mortgage.
That doesn't explain why my insurance for taking an inflatable kayak on our rivers automatically renewed.Quote:
Originally Posted by 19bluebirds27
The insurer has to do one of two things as a default, either cancel your insurance at the renewal date, or renew it (usually on different terms). What they cannot do is simply let the existing contract continue past one year.Quote:
Originally Posted by Eric the Half a Bee
If you've missed a renewal notice and taken cover elsewhere then you should have no problem getting a refund.
Or they can include an automatic renewal, which isn't the same as letting the existing contract continue, when the old contract runs out. It might be in tiny small print that nobody reads. There's nothing preventing insurers doing such a thing.Quote:
Originally Posted by JumpersforGoalposts
An early form of Filofax.Quote:
Originally Posted by xsnaggle
Paper diaries were quite good in the day mind but I'm talking smart diaries here.Quote:
Originally Posted by xsnaggle
Pop a reminder in one and all manner of devices will remind you and save you loadsamoney when the time is right.
I've saved well over £200 already this year by getting a little more organised last year. I don't have more money than sense any more!
EE can expect a call from me quite soon for the one of the managers (keep him at all costs) "today only specials"
they can its called auto-renewal and its there in black and white or email at the start of contract you just have to take care when agreeing at first:thumbup:mainly used when paying in fullQuote:
Originally Posted by JumpersforGoalposts
This is absolutely common practice in the insurance industry, it works like this for any type of annual insurance policy I can think of - the contractual position will be absolutely nailed down. And I don’t think it’s sharp practice either- I’m always reminded in multiple occasions that it’s renewal time and to be honest I’m grateful that it does. The chance of me not having time to sort out a new policy is not insignificant so at least this way I know that I’m still insured, even if it might not be on the best deal.Quote:
Originally Posted by Taunton Blue Genie
It is a renewal that they have to advise you the terms of and give you the opportunity to cancel - it is only an "auto renewal" in the sense that their default if you don't cancel is to renew the policy.Quote:
Originally Posted by poc
They can't let the existing policy just continue to run as it would breach their insurance licence.
Useful to know. Thanks.Quote:
Originally Posted by JumpersforGoalposts
just whack your details into " Compare the market " they will send you reminders, if nothing has changed they just use your last details you enteredQuote:
Originally Posted by SLUDGE FACTORY
and you get " meerkat movies and meals " :thumbup: which really does save us alot of money
Year before last year I paid 800, they wanted well over 1000 to renew, I asked the nice lady on the phone how it had increased and she said it was a different broker. Went on money supermarket where I'd originally got the quote and paid 690 with a new provider and this year it was 500. That's 150 quid a year saving, for literally opening an email and having a look at what other providers are offering. If wasting a few seconds of your life is too rock and roll and effort to save a decent amount of money then so be it...Quote:
Originally Posted by blue matt
I have gone from being a loyal customer i.e. sticking with the same service provider year in, year out, to someone who uses comparison sites every time for all my insurance needs (house, house contents, car, home emergency). I have saved a fortune over the last 5 years or so. I do get reminders but what I find is that they are sent out so far ahead of time that I tend to put them on one side and then forget about them!
For life and accident insurance I have to stick with the same companies because of my age :old: , changing provider would incur massive increases in premiums!
Combine the comparison sites with cashback sites and save even more. I did my house insurance through one of them, confused.com I think, via Quidco, and got £30 cashback. Takes a few months to come through, but well worth a look!