Change of address payment

King_Of_Bling

mikey72 wrote: »

I don't. (I also think £50 is too much, mine can affor to do it for free) but I'll accept the FOS have set a limit in a previous ruling.
I don't therefore accept an arbitary increase by an insurer, to any number they think they can impose.

Do it pal, report them. They are getting away with it. Look what the banks used to charge for going overdrawn in the past....then charges on charges :mad: look what the credit card companies were charging vulnerable people for missing a payment. It all changed when so many people decided to complain. £5 to £10 is more than enough for a change of address (as long as you're not moving to a higher risk area)

lisyloo

And if all they wanted to split was a £500 premium raise between us all this year, I don't think anyone would object.

It's not just one complaint though is it, which you know very well.

mikey72

lisyloo wrote: »

It's not just one complaint though is it, which you know very well.

If they get a lot of complaints over £50 being excessive for an admin fee, it's a democracy, so insurers can respond any way they decide.
Personally, I'd see a lot of complaints as even more reason the FOS should rule on it.

dunstonh

Look what the banks used to charge for going overdrawn in the past....then charges on charges

And look at how much more they charge now

£5 to £10 is more than enough for a change of address (as long as you're not moving to a higher risk area)

ROFL at that level of charge. Totally unrealistic.

If they get a lot of complaints over £50 being excessive for an admin fee, it's a democracy, so insurers can respond any way they decide.
Personally, I'd see a lot of complaints as even more reason the FOS should rule on it.

And it just gives more ammunition that say that the financing of the FOS should be changed so consumers should pay to use the FOS and only get a refund if they are successful.

lisyloo

If they get a lot of complaints over £50 being excessive for an admin fee

I am 99.9999% sure that an insurer won't let it go to the FOS for the sake of a fiver.
They do not have emoitonal or moral "baggage", they are entirely commercially objective so those that complain will almost certainly get a "gesture of goodwill".
This will be a minority so the insurers will still be "up" on the deal overall.
I'm not saying that's a good thing, but that's the reality, the majority of people won't complain especially if they are in the throes of moving house.
If the OP wants to complain they are free to but I think they could earn more spending the same amount of time working as it's such a small amount.
I don't think the complaints will make any point or set any precedent, the insurers will simply pay off the minority that complain and keep the money from the majority, so ultimately they win.

P.S. I don't thin you can expect to rely on 5 year old figures forever, but one thing I think we would actually ALL agree on, is that it would be handy if the FOS had a stated policy on the matter, rather than is having to rely on old test cases, or spend loads of money putting more test cases forward to find out.
Why not just publish the figures for what is acceptable?

King_Of_Bling

dunstonh wrote: »

And look at how much more they charge now

Yes look, £12 fee instead of £35+

"£5 to £10 is more than enough for a change of address"

dunstonh wrote: »

ROFL at that level of charge. Totally unrealistic.

£5~£10 for a company employing someone who may be paid £6 an HOUR, to tap in a few numbers and letters, taking 2 minutes? :rotfl:

dunstonh

Yes look, £12 fee instead of £35+

I suggest you look at bank charges again. Most have moved to £x a day and it wouldnt take many days to exceed the old charges.

"£5 to £10 is more than enough for a change of address"

Can tell you dont run a business.

£5~£10 for a company employing someone who may be paid £6 an HOUR, to tap in a few numbers and letters, taking 2 minutes?

What about the computers, premises, support staff (supervisors, trainors, management, IT staff, compliance staff, actuaries etc), business rates, electricity, gas, telephones etc.

mikey72

dunstonh wrote: »

What about the computers, premises, support staff (supervisors, trainors, management, IT staff, compliance staff, actuaries etc), business rates, electricity, gas, telephones etc.

They're all over heads regardless.
Would they have to sell them all if no-one made any changes?

Tom_Pickering

dunstonh wrote: »

What about the computers, premises, support staff (supervisors, trainors, management, IT staff, compliance staff, actuaries etc), business rates, electricity, gas, telephones etc.

These are resources deployed to SELL and service insurance CLAIMS, not to make the odd change of address

dunstonh

These are resources deployed to SELL and service insurance CLAIMS, not to make the odd change of address

Some may double up but some do not. Either way, they have to allocate extra resources to cater for it. Who is going to pay for them?