Tesco car insurance - change of address charge?

Babbler

I am with tesco car insurance and have been for the 3rd year running. I dont think I will for a 4th year running...

Just moved about 5 miles down the road so changed my address. Only have 1 month to go with the insurance...I was told there would be a 27.30 fee - more than 1 month of my premium! Almost 10%. This was an "administrative" charge of 15.75 and insurance premium tax (which surely I paid when I got the insurance in the first place??) of 11.55.

I cant see these charges mentioned anywhere in my policy - may be in real small print I guess! Anyone know if they can do this??

Forget bank charges - go after this sort of thing!!! :mad:

biggerl1960

When I moved home which was about 1 mile kwik fit wanted to charge me £152. 00 because the post code had changed

mattymoo

The answer is yes they can. If you want cheap policies then you pay for extras like address / vehicle changes.

Having said that, IPT (ins. prem. tax) is only 5% so not sure why they are saying £11.55

tinkerbell84

£11.50 = change in risk, maybe?

Babbler

Oh well - guess I have to live with it.

However, define "CHEAP"? Prices vary extensively - i didnt chose a value option...

mattymoo

Net savvy customers now use sites like Confused and Compare the Market to seek out the best price. Appearing at or very near the top of these sites results pages is the be all and end all for many insurers now.

To achieve this they strip out all the extras and policy benefits in order to give a bare bones product.
On motor they take out the courtesy car / legal expenses / breakdown covers.
On household they take out legal expenses, cycle and frozen food covers for starters.

They will also impose tougher terms, e.g. restrictions in cover, lower limits or higher excesses.

They will also strip out the usual policy admin costs and charge these as and when they arise, like in your case.

Result = a cheap policy but with extra costs should you wish to improve the cover or change anything.

Babbler

mattymoo wrote: »

Net savvy customers now use sites like Confused and Compare the Market to seek out the best price. Appearing at or very near the top of these sites results pages is the be all and end all for many insurers now.

To achieve this they strip out all the extras and policy benefits in order to give a bare bones product.
On motor they take out the courtesy car / legal expenses / breakdown covers.
On household they take out legal expenses, cycle and frozen food covers for starters.

They will also impose tougher terms, e.g. restrictions in cover, lower limits or higher excesses.

They will also strip out the usual policy admin costs and charge these as and when they arise, like in your case.

Result = a cheap policy but with extra costs should you wish to improve the cover or change anything.

Fair enough - but it should be stated somwhere clearly.

mattymoo

It should be shown in the policy booklet / schedule plus online, usually in a keyfacts document.

Edit - just found it - condition 13 in the policy book.

If any of the information You have provided Us in relation to Your Policy changes You must let Us know immediately as this could affect the protection of Your cover in the event of a claim. Policy amendments resulting in a change in risk are subject to an amendment charge.

I must confess, it wasn't the easiest to find. Some insurers set this kind of stuff out on a separate document or on the inside front cover of the booklet, but not Tesco.

dacouch

Prepare for an increase in your renewal as 12 x £11.55 is an extra £138.60 so it may be worth start shopping round now...

Quote

Babbler wrote: »

Oh well - guess I have to live with it.

Exactly.

mattymoo wrote: »

Net savvy customers

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl: