Automatic insurance renewals- end this scam now!

JonBoy_SCFC

raskazz wrote: »

No, not really. Even without automatic renewals around 60% of policies renew.

care to back this up with facts?;)

JonBoy_SCFC

lisyloo wrote: »

I don't agree with you.
Don't know your age but I've been around a few decades and I can assure that prior to automatic renewal, most people would just renew with the same company rather than shop around.
You might be suprised by this if you used to shopping around but it's simply apathy.
If people can't be bothered to change mortgage to save a few grand then I can assure you there are lots of people who are either not knowledgeable, not bothered, disinclined or simply too busy to shop around (that goes for things generally not just insurance).

It's quite simple really.
If you don't want an auto renewal polciy then don't get one (they DO exist because I've had them).
If your chosen company does do it, then simply get a spreadsheet or diary and put your dates in. It really isn't difficult once you are aware of it.
I put all my MOT, insurance and important dates together in one place - it's not rocket science.

maybe that was the behaviour pattern "decades ago", but if you think that customer behaviour has stayed the same in that time then you're taking the naievity to another level:rotfl: :rotfl:

In some ways i don't have a problem with "auto renewing" - i wouldn't think anything at all wrong with it if the price wasn't sneakily hiked up;)

raskazz

JonBoy_SCFC wrote: »

care to back this up with facts?;)

I don't need to. Those are the renewal retention rates on non-inertia renewals for my employer on private motor policies. I've seen enough of your bluster to not be particularly concerned whether you believe it or not.

JonBoy_SCFC

raskazz wrote: »

I don't need to. Those are the renewal retention rates on non-inertia renewals for my employer on private motor policies. I've seen enough of your bluster to not be particularly concerned whether you believe it or not.

i knew it, that's a "no" then!:rotfl: :rotfl: :rotfl:

mattymoo

laurelchampion wrote: »

.All we need now is someone to champion this cause. Know anyone?

How about someone to champion the cause of getting people to use the search button before posting a new thread? This subject has been discussed numerous times before.

Also, why did you elect to buy an annual travel policy and then state this is not what you want because your travel plans vary? You buy them for convenience and price since they often work out cheaper than 2 or 3 single trip policies in the same year.

Jonboy - renewal retention rates as high as 85% are not uncommon in some classes of business.

roddydogs

Surely they can only do this if youve arranged a DD or Standing order....not from a Credit Card or Bank Card?

Eydon

vikingaero wrote: »

...use a credit/debit card which expires before renewal.

Doesn't always help I'm afraid. If the insurer is set up to do continuous authority payments then when they put through the transaction they use a dummy expiry date. When the transaction is processed by your credit card company they will recognise the dummy expiry date and allow the transaction to go through - you will be billed for it.

BruceyBonus

roddydogs wrote: »

Surely they can only do this if youve arranged a DD or Standing order....not from a Credit Card or Bank Card?

They can keep taking the money from the credit/debit card every year (unless you tell them not to) - even if they card has expired in some cases.

Eydon

roddydogs wrote: »

Surely they can only do this if youve arranged a DD or Standing order....not from a Credit Card or Bank Card?

Nope - it's called continuous authority and they really should be avoided, because once set up, only the merchant (in this case the insurance company) can cancel it. Martin has done an article on it here (http://www.moneysavingexpert.com/banking/direct-debit#steal)

stugib

roddydogs wrote: »

Surely they can only do this if youve arranged a DD or Standing order....not from a Credit Card or Bank Card?

Nope, most credit and Visa debit cards allow for recurring/repeat transactions.