Insurance policy renewal - only 23 days notice?!

Spikey1

No mate...it applies to renewals too.

Your "renewal" is actually a new contract so you get the 14 day cooling off period each time you renew.

It costs you nothing to ask the question when they call you tomorrow. If you are not convinced or you remain dissatisfied with what you are being told escalate the complaint until you get to speak with the Complaints Dept. They are the last defence between you getting to the Ombudsman and they can usually be trusted to give you the right answer.

RichardD1970

ldee2111 wrote: »

I was abroad and haven't long returned. An extra five days would have given me a bit more time.

A bit more time to do what? It takes, what? Half hour to an hour to go through all the comparison sites.

vaio

and 27 days to read all the T&C of the various insurers to make sure you are getting the correct policy for you

Filip

FCA regulations purely state that renewals must be sent out 'in good time'. No period specified.

InsideInsurance

The ICOB rules used to give a timeframe for renewal documents but this was subsequently replaced with a generic "good time" type statement.

A cooling off period exists with all new contracts be that new business or renewal however cooling off doesnt mean its free to cancel, just that you can cancel. Most optional extras like Legal Expenses are charged in full if you attempt to cancel after the cooling off period.

*Scarlett

23 days notice seems fair to me.

If you pay by dd the insurer would be required by dd guarantee to give 10 working days notice of any changes to your dd so you've had a bit more notice than that.

If you pay by card you must have given them continous payment authority for auto renewal when you took the policy out.

You say that you no longer need the policy - is this because you have arranged cover elsewhere? If so you may be able to negotiate a refund if you provide proof of dual insurance.

In any case you know for next year - you can get quotes in for 30 - 60 days in advance so that you will have the info for when the renewal comes through.

ldee2111

Hi everyone,

Just to let you know the insurer called me today and agreed to waive the cancellation fee. Result!

I don't know if they waived it out of good grace or because they were in the wrong.

Anyway, I'm happy at the result and did make sure to thank the individual who took my issue to his manager.