New Better than Renewal + extra £100 quidco cash back

Kevoh

I used Martin's advice that a new policy from the same company may be better than renewal, and it was! I am with direct line, they wanted £302 to renew my quote.

I applied for a new policy with them and the quote was £282, plus, quidco gave me £100 cash back, hence the total cost is £182, with 0% direct debit. All I have to do is to remember to cancel my direct debit after month 10, so that it does not automatically renew.

olly300

Kevoh wrote: »

All I have to do is to remember to cancel my direct debit after month 10, so that it does not automatically renew.

Put a note in your diary to do this AND to write to Direct Line informing you have cancelled your direct debit.

Automatically renewing direct debits are a con IMHO to try and force people into staying into contracts longer than they want.

Some companies either:
1. Deduct the money from your account even though you have cancelled the direct debit. (You just ask your bank in writing for a refund.)
2. Threaten to, and do chase you with debt collectors if you cancel direct debits without telling them in writing. (If they do this to you when you have written to them they haven't got a legal leg to stand on so leave you alone if you threaten them with ombudsman.)