Whats to stop me changing insurer

telly-addict

I'm not familiar with the Churchill policy, but it's standard market practice for cover to continue into the following policy year when the premium is paid by direct debit (either monthly or annually).

If you are not on a direct debit plan and pay up-front for your cover (and so normally save some interest), then the policy might well lapse as they've not had the money.

This should all be clearly shown in your renewal notice.

Bossyboots

telly-addict wrote:

I'm not familiar with the Churchill policy, but it's standard market practice for cover to continue into the following policy year when the premium is paid by direct debit (either monthly or annually).

If you are not on a direct debit plan and pay up-front for your cover (and so normally save some interest), then the policy might well lapse as they've not had the money.

This should all be clearly shown in your renewal notice.

Yes, that would explain it. I pay up front by credit card so they have no way of collecting the money unless I authorise it.

MarkyMarkD

Bossy

They collected my renewal payment under a credit card continuous authority which I didn't realise I had authorised. And I pay annually up-front, so your explanation of why they could not have done it to you doesn't reflect my experience.

That said, it was in 2002 so they may have changed their policy from what they did then - maybe they had too many complaints?

telly-addict

Will probably all depend on what direct debit authority you gave at the time of the initial transaction/payment. Some insurers on certain products give a discount for continuous direct debit payments as it cuts down on admin costs.

I'm afraid that it's the same old story of checking the smallprint!!