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  • FIRST POST
    • MSE Ben
    • By MSE Ben 19th May 17, 5:09 PM
    • 22Posts
    • 2Thanks
    MSE Ben
    MSE: News: Admiral auto-renewal insurance letters issue
    • #1
    • 19th May 17, 5:09 PM
    MSE: News: Admiral auto-renewal insurance letters issue 19th May 17 at 5:09 PM
    Admiral has sent auto-renewal letters showing 'last year's premium' as the amount quoted, instead of that actually paid.
    Read the full story:

    Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
    Last edited by MSE Matt; 19-05-2017 at 5:23 PM.
Page 1
    • Le_Kirk
    • By Le_Kirk 19th May 17, 5:34 PM
    • 1,796 Posts
    • 895 Thanks
    Le_Kirk
    • #2
    • 19th May 17, 5:34 PM
    • #2
    • 19th May 17, 5:34 PM
    Sorry, you've landed on a page that doesn't exist.
    • waamo
    • By waamo 19th May 17, 5:38 PM
    • 1,564 Posts
    • 1,772 Thanks
    waamo
    • #3
    • 19th May 17, 5:38 PM
    • #3
    • 19th May 17, 5:38 PM
    Here is the correct link http://www.moneysavingexpert.com/news/insurance/2017/05/admiral--auto-renewal-letters-tell-customers-last-years-premium-was-more-than-they-actually-paid
    This space for hire.
    • Mobeer
    • By Mobeer 19th May 17, 9:26 PM
    • 1,657 Posts
    • 4,360 Thanks
    Mobeer
    • #4
    • 19th May 17, 9:26 PM
    • #4
    • 19th May 17, 9:26 PM
    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-paid
    • 2013yearofthehouse
    • By 2013yearofthehouse 19th May 17, 10:28 PM
    • 2,037 Posts
    • 36,463 Thanks
    2013yearofthehouse
    • #5
    • 19th May 17, 10:28 PM
    • #5
    • 19th May 17, 10:28 PM
    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.
    Last edited by 2013yearofthehouse; 19-05-2017 at 10:33 PM.
    • Pincher
    • By Pincher 19th May 17, 11:54 PM
    • 6,516 Posts
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    Pincher
    • #6
    • 19th May 17, 11:54 PM
    • #6
    • 19th May 17, 11:54 PM
    "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.
    • AdrianC
    • By AdrianC 20th May 17, 9:08 AM
    • 14,423 Posts
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    AdrianC
    • #7
    • 20th May 17, 9:08 AM
    • #7
    • 20th May 17, 9:08 AM
    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?
    • forgotmyname
    • By forgotmyname 20th May 17, 11:57 AM
    • 25,102 Posts
    • 9,959 Thanks
    forgotmyname
    • #8
    • 20th May 17, 11:57 AM
    • #8
    • 20th May 17, 11:57 AM
    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?
    Originally posted by AdrianC

    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?

    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
    • 50Twuncle
    • By 50Twuncle 20th May 17, 4:31 PM
    • 7,510 Posts
    • 1,737 Thanks
    50Twuncle
    • #9
    • 20th May 17, 4:31 PM
    • #9
    • 20th May 17, 4:31 PM
    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 ?
    Last edited by 50Twuncle; 20-05-2017 at 4:39 PM.
    • owen_money
    • By owen_money 21st May 17, 4:19 AM
    • 376 Posts
    • 488 Thanks
    owen_money
    I paid £214, beat that! Now back to Cyril
    One man's folly is another man's wife. Helen Roland (1876 - 1950)
    • AdrianC
    • By AdrianC 21st May 17, 8:08 AM
    • 14,423 Posts
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    AdrianC
    I paid £214, beat that!
    Originally posted by owen_money
    Change from £150.

    That's less than the previous owner of the car was paying... per month.
    • miller
    • By miller 22nd May 17, 8:21 AM
    • 1,131 Posts
    • 380 Thanks
    miller
    I hope their new IT system lets you cancel auto-renewal at inception.

    Admiral told MSE that its renewal notice letters are sent out three weeks before a policy's renewal date.
    Yeah. With auto-renewal on there is a clear incentive to shorten that time as much as possible, especially as the renewal premium is taken 7 days before the renewal date. Even if the times Admiral quote are accurate that only leaves 14 days when really there should be a month's daylight.

    Much more needs to be done here to put more control in the customer's hands. Making it clear/possible that you don't need to have auto-renewal on is a good way to do that (e.g. as LV do with a simple tick box on purchase).
    • miller
    • By miller 22nd May 17, 8:23 AM
    • 1,131 Posts
    • 380 Thanks
    miller
    +Add in Continuous Insurance Enforcement as another pressure with regards the above.
    • AdrianC
    • By AdrianC 22nd May 17, 8:36 AM
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    AdrianC
    +Add in Continuous Insurance Enforcement as another pressure with regards the above.
    Originally posted by miller
    They've only been in place for six years now...
    • miller
    • By miller 22nd May 17, 9:04 AM
    • 1,131 Posts
    • 380 Thanks
    miller
    They've only been in place for six years now...
    Originally posted by AdrianC
    The point being that before that you could let the policy lapse for a few days (obviously without using the car) without the threat of a fine. It introduces a hard deadline and potentially pressurises people into accepting the renewal quote.
    • AdrianC
    • By AdrianC 22nd May 17, 9:07 AM
    • 14,423 Posts
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    AdrianC
    The point being that before that you could let the policy lapse for a few days (obviously without using the car) without the threat of a fine. It introduces a hard deadline and potentially pressurises people into accepting the renewal quote.
    Originally posted by miller
    You still can. You just need to SORN the car.

    But you miss my point. This is not a recent change, so this is not affecting renewals NOW.
    • miller
    • By miller 22nd May 17, 9:33 AM
    • 1,131 Posts
    • 380 Thanks
    miller
    You still can. You just need to SORN the car.
    Originally posted by AdrianC
    Losing the remaining days of tax for that month in the process, having to wait for a cheque refund then needing to retax the car when you finally arrange insurance.

    The admin overhead is huge. There is implied pressure to accept the renewal quote. The later the insurer sends that renewal quote the greater that pressure as you have got fewer days to find alternative quotes.

    Yeah, CIE is not a new thing. I agree.
    • AdrianC
    • By AdrianC 22nd May 17, 9:35 AM
    • 14,423 Posts
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    AdrianC
    You don't need to wait for the renewal letter to start looking about for quotes. All you need to do is to be vaguely organised enough to know when your insurance expires.
    • miller
    • By miller 22nd May 17, 9:41 AM
    • 1,131 Posts
    • 380 Thanks
    miller
    You don't need to wait for the renewal letter to start looking about for quotes. All you need to do is to be vaguely organised enough to know when your insurance expires.
    Originally posted by AdrianC
    Strangely enough I have done this today! Not everyone works like that though and will react only if/when that letter comes through.
    • AdrianC
    • By AdrianC 22nd May 17, 9:47 AM
    • 14,423 Posts
    • 12,751 Thanks
    AdrianC
    Strangely enough I have done this today! Not everyone works like that though and will react only if/when that letter comes through.
    Originally posted by miller
    Yes, some people's disorganisation does work against their best interest.

    And?
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