Latest insurance rip offs

wolfman210

Beware the latest rip off, automatic renewal of your car insurance. Unless you tell your company not to do this you may find that the company has automatically taken the money and re insured you. They then charge a fee to cancel it if you don't want it. Some companies are even quoting the Road Traffic Act stating it is the law that they have to renew. (incorrect) The cancellation fees vary between £20 and £55. Tell your company you do not want automatic renewal.

SuperHan

Not a rip off. I make sure my insurance is set to auto renew. What if something happened and I was, say in hospital, at the renewal date so unable to take out a new insurance? It would be a pain to get better and not be able to drive my car, or have fines for not declaring it SORN. Or if I just forgot it was renewal time and then I got stopped by the police and got points and fined for driving without insurance.

It's not difficult to keep tabs and while you're shopping around for new insurance to call your existing provider to see if they will a) match a better quote or b) cancel if they don't.

It strikes me that those who are likely to forget to lapse existing insurance will be the ones who forget to take out new cover every year....

RichardD1970

Agree, not a rip off and certainly not a new thing. I have had my own car insurance for over 10 years and there has always been auto-renew.

When I get the renewal documents I get on the comparison sites, find the cheapest quote (only once has the renewal quote been cheapest), ring up current insurer and either get a better quote from them or cancel the renewal and insure elsewhere.

dunstonh

Beware the latest rip off, automatic renewal of your car insurance.

Its not latest and its not a new thing. Its been around for over 20 years.

Unless you tell your company not to do this you may find that the company has automatically taken the money and re insured you.

Just as they tell you they will in the renewal letter they send you.

Some companies are even quoting the Road Traffic Act stating it is the law that they have to renew. (incorrect)

Havant seen anything about that previously. Have you evidence of this? I suspect its more likely them pointing out the new(ish) SORN requirements and if you dont SORN that you need insurance.

Tell your company you do not want automatic renewal.

Just as the companies tell you to in the letter, should you be bothered to read it.

CKhalvashi

RichardD1970 wrote: »

Agree, not a rip off and certainly not a new thing. I have had my own car insurance for over 10 years and there has always been auto-renew.

When I get the renewal documents I get on the comparison sites, find the cheapest quote (only once has the renewal quote been cheapest), ring up current insurer and either get a better quote from them or cancel the renewal and insure elsewhere.

Simple moneysaving advice, even if an insurer does not autorenew.

My insurance time is when I'm on holiday each year. I check the quote before I go and if someone else is cheaper, will ask current insurer to match that (not happened in the last 2 times, as I've got a specialist policy, but has in the last).

If they won't I vote with my feet.

CK

DCFC79

Auto renew doesn't affect me or lets just say it doesn't bother me as I keep tabs on when its due to run out so when its due to run out I look for a cheaper quote.

Not really a rip off though. If I were ever to forget Id be glad I would be covered.

cajef

Also contrary to poplar belief that they hike the price up I have allowed auto renewal for the past three years on my motor policy because when I get the renewal notification it has only gone up by very small amount and on checking the comparison sites I cannot get the same cover elsewhere cheaper.

iBeast

Bit harsh on auto-renewalls elder people so long as the check the price can benefit from auto-renewals.
At the end of the day read the documents and everything will be rosey

forgotmyname

If you cannot remember to check your insurance before the due date then surely auto renewal is essential for you. If you cant make a phone call or write to cancel then search for a company that do not auto renew or cancel the auto renewal from the start if they allow if not goto one that will.

My previous insurer didnt auto renew but there was no price increases in the 3 or 4 years i used them.