Vent/warning tesco home insurance**

mollypoppy · 3 August 2010 at 11:34AM

Hi

This is a vent and warning against Tesco Home Insurance a few weeks ago my parents received a phone call from Tesco regarding renewal. They gave a price which was fine, this call was made 10 days before the renewal date of the 3rd August 2010. My mum confirmed with them that payment would be taken on the 3rd as that was when it was due.

Everything seemed fine until they checked their bank account yesterday to find that tesco had taken the payment on the day of the phone call instead of the 3rd as they had confirmed as the payment date on the phone.

My dad phoned and explained what had been said they didn't give a damn basically. He advised them that if they were doing this to everyone about from taking the money before it was due, that they could be making people overdrawn on their accounts. They still didn't care.

Another point he made was of all the extra money taken early from customers sitting in tescos bank accounts gaining interest when the payments weren't even due!!!! They still didn't care no apology or anything.

So if your with Tesco Insurance DO NOT allow them to renew if they phone because it may be the case that they take the money then and there even though they have agreed to take it on your renewal date. BE WARNED

Everyone if having to budget at the moment and noone needs their money taken earlier. They have even warned one of their neighbours who is on a very tight budget to make sure that this doesn't happen to them.

If anyone has an email address of someone who knows something in tesco insurance please post it as I am sure other people have had the same problem.

thriftytracey · 4 August 2010 at 12:22PM

I believe that's the case with most insurances that require manual renewal rather than automatic direct debit. I've found that myself when renewing. I don't pay any insurances by direct debit now because of this. When the renewal notice arrives (usually about 3 weeks before the expiry) it gives me time to compare the market and obtain a more competitive quote. Once I have that I call my insurer who will sometimes reduce their premium (amazing that) and if I am happy to stay with my existing insurer then I call the day before the expiry date and give them my card details. The money comes out of your account that same day so you are covered. I have just done this with my buildings insurance and was asked "Wouldn't you prefer to have an automatically annual DD?" No thanks! Should be phrased "We would prefer you to have an automatic annual DD!"