This automatic renewal scam is getting worse (rant)

InsideInsurance

2cb wrote: »

the people who fall for auto renewal.

The majority of people don't "fall for" auto renewal

Looking at year 1 & 2 the difference in retention rate for auto renewal and manual renewal is about 10%

When you get to year 5+ the difference between manual and auto renewal is about 1-2%

The majority of people still stick to the same insurer or broker each year irrespective of if they are on auto renewal or not.

There certainly are complaints that people were renewed without their "knowledge" (ie they didnt read the renewal letter) but then back in the old days we used to get complaints from people who suddenly found they were uninsured (ie they didnt read the renewal letter). Unfortunately by the time I got into the area I am now auto-renewal was already so common place that stats on rates of complaints are probably irrelevant.

I do know one insurer that potentially stretched the rules and sent out auto-renewal letters to circa 50,000 existing customers who hadn't been told about it at point of purchase. Out of 50,000 customers how many complaints did they receive? Not receive a single complaint from any of them.

As to recommending, I have a conflict of interest and so cannot recommend.

2cb

InsideInsurance, if you can't recommend a company, please offer some advice on how to tell which companies are good? I buy on price because I have no other information to go on.

InsideInsurance

Depending on your priorities you can use Defaqto for product quality and Which? for customer service ratings.

Like hotels, not all 5*s are equal but it is a reasonable enough guide and if there is something particular you are interested in then just check for that particular item

2cb

The Which list is handy, thanks for that. LV do really well in it. I think they were one of my chosen quotes, but I didn't know they were any better than Aviva.
The Defaqto list is useless to me. Aviva get 4 stars! It's all about the features offered, not the quality of service. I can check the features in the policy details, and I don't want lots of extras anyway.

InsideInsurance

Hence commenting one is on product and one is on service

Unfortunately for Home three of the most complained about areas are (1) matching sets and (2) trace and access (3) all risks -v- specified perils (though much less than the other two) - none of these tend to be covered by anything but the top end policies

Whilst top end come with other bells and whistles (eg hole in one insurance) its up to you to decide if its worth paying for them to know if your arm chair is irrepairably damaged that the insurer will replace the full three piece suit (assuming its no longer made) rather than a budget policy that only pays the value of the chair and its your problem that you cant buy anything to match the rest of the set

dalesrider

2cb wrote: »

Did you read my post? I don't go for the cheapest. I'm not happy with auto renewal, but they all do it.

2cb wrote: »

I buy on price because I have no other information to go on.

So which is it ?
Price = cheapest, in most peoples book...

Or do you not define price as the cheapest. :rotfl:

And NOT ALL auto renew. The last 3 ins policies have not auto renewed. This was on house/car/bike. I contacted ALL co's after recieving renewall to advise I was going else where and was told by ALL 3 that they don't auto renew. And the bike one was with Bennetts well know as the scourge of the biking world....

dalesrider

2cb wrote: »

Oh !!!!!!. I didn't explicitly state that they hadn't given me a choice, because I thought it was blindingly obvious. If they'd given me a choice, I would have not chosen auto renew and would have nothing to complain about.

Not in the 1st post, but You did in a further one... Which is why there were 2 quotes in my post..

Sorry but you seem to have a case of "Can't remember what I posted before" & "I'll change my mind, and argue the reverse" when someone points out the error of your ways.

So where is the problem with waiting till you get the renewall and ringing up and saying Yes or No at that point.

It seems to me the only people who have a problem with this are the people who CAN'T or WON'T read what letters they are sent.

2cb

I go through the quotes and pick the companies that appear to be reputable, and I go with the cheapest one of them. Therefore I buy on price, but I don't go with the cheapest quote I get.

So which companies are they that don't auto renew then? Don't tell me you've got 3 and not give me the names! :-)

dalesrider

2cb wrote: »

So which companies are they that don't auto renew then? Don't tell me you've got 3 and not give me the names! :-)

I've named one. And that as far as I will go. Both the other are big name co's
In fact the only ins co that said they auto renew was the RAC (broker). They then said all you need to do is call and it will be removed.

Both the other 2 make it clear when you speak to them of their policies.
So its upto you to do your own honework.

2cb

Why on earth would you refuse to name companies that you are recommending? Are you just trying to wind me up?