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MSE: News: Admiral auto-renewal insurance letters issue
Former_MSE_Ben_S
Posts: 39 Forumite
Admiral has sent auto-renewal letters showing 'last year's premium' as the amount quoted, instead of that actually paid.
Read the full story:
[URL="http://www.moneysavingexpert.com/news/insurance/2017/05/admiral--auto-renewal-letters-tell-customers-last-years-premium-was-more-than-they-actually-paid][/URL][/B]
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[URL="http://www.moneysavingexpert.com/news/insurance/2017/05/admiral--auto-renewal-letters-tell-customers-last-years-premium-was-more-than-they-actually-paid][/URL][/B]
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Sorry, you've landed on a page that doesn't exist.0
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That's not working either - try this:
http://www.moneysavingexpert.com/news/insurance/2017/05/admiral-auto-renewal-letters-tell-customers-last-years-premium-was-more-than-they-actually-paid0 -
I reviewed my mum's renewal last week and noticed this! She was with the AA though, not Admiral, so other companies are doing it (and still doing it), so it's not just Admiral who deserve to be in the article! I wonder how many more are doing it?!
Letter from 19th April for renewal of 16th May:
Your renewal price £230
Last year's annual price £218
.....but after calling them to cancel last year, she actually only paid £146 after they matched a quote from another company!
Called them to cancel this year and they wanted to (approximately) match at £155, but went through with cancellation and then paid £152 (not including additional £20 cashback) to another company instead.0 -
"New rules brought in by the Financial Conduct Authority on 1 April mean insurers who want customers to renew their policy must tell them what they paid last year, so they can more easily spot price hikes."
No wonder they treat it like a joke.
Equitable Life keeps issuing annual statements dated 1st April as well. I only know whether they are joking when I redeem the policy. Cross my fingers.0 -
Why does last year's premium matter, anyway?
Surely the important question is whether this year's renewal price is competitive with this year's quotes from other insurers?0 -
Why does last year's premium matter, anyway?
Surely the important question is whether this year's renewal price is competitive with this year's quotes from other insurers?
So you can sob into your morning coffee knowing that you have earned your extra years no claims and the insurer has rewarded you by increasing your premium?
:D:D Censorship Reigns Supreme in Troll City...0 -
They have shot themselves in the feet - by admitting that a £231 premium can be reduced to £162 on a single phone call !!
I paid Admiral £286 for two people on cars cover - expires in September - don't know what this years premium will be ?0 -
I paid £214, beat that! Now back to CyrilOne man's folly is another man's wife. Helen Roland (1876 - 1950)0
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Change from £150.owen_money wrote: »I paid £214, beat that!
That's less than the previous owner of the car was paying... per month.0
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