M&S Pet Insurance - Loan for Direct Debit?

M23_Spire

Hi

Long time reader on numerous boards but 1st post so here goes.

We bought Pet Insurance from M&S for our dog Jasper, and the paperwork has just arrived.

It appears to say that the Direct Debit is backed up by a fixed rate loan and there is a copy of the loan agreement. (All unsigned still)

Is this correct? and normal?

We pay Car & Home Insurance by DD and have never encountered this.

Also will this affect our credit rating?

Thanks for any replies!

Aidy & Sarah Jane (and Jasper)

M23_Spire

Bump

Anyone? This in the wrong forum?

Cheers

pboae

It's becoming more common, it's meant to stop people cancelling the insurance 2 months into the policy after making a big claim, as you are liable for the price of the whole year policy once you sign up.

AFAIK you won't be credit scored for it, but I am not 100% sure on that, so best to check with M&S if you are worried.

M23_Spire

Thanks for the reply. Will check with them later and report back.

webmasterpolo

Yes it's normal. For house and car insurance it is the same, you may not of noticed, but if you read into it I'm sure it will be. Some maybe not, but most yes.

-Web