I should regularly check my bank account!

jojo01

I've just discovered that two insurance policies I cancelled last year have still been taking money from my bank account. I didn't cancel the DDs because I assumed, wrongly, that they would stop taking the money.

However it seems that both insurance companies still seem to think they're still insuring me, despite me cancelling by phone last year.

I'll be honest, I'm cross with myself. I'm rubbish at looking after personal admin and this has been a bit of a costly lesson.

I did try and call the companies yesterday but neither were open!

I'm not imagining they're going to refund me the money. Just wanted to put this out there to serve as a warning to anyone else.

colsten

You should insist on getting the money back if you are certain that you have cancelled. They should have recordings of the calls in which you cancelled the insurances.

You are right, you need to check your accounts regularly. Have you cancelled the DDs now (in your online banking)?

grumbler

colsten wrote: »

They should have recordings of the calls in which you cancelled the insurances.

Very unlikely after a year, but still worth demanding a refund regardless. The new insurance policy (if there is one) on its own is a good argument.

colsten

Most companies keep all customer correspondence for 7 years.

grumbler

Financial companies - maybe (I don't know), but certainly not just 'most companies'.

jojo01

Thank you for all your comments and advice. I'm going to call them both tomorrow. I'm certain I called them to cancel as I made notes on last year's renewal notices which I still have.

Just in the process of cooking dinner at the moment, but once everything's tidied away, I will cancel the DDs online.

pollypenny

Id be cancelling the DDs rather than on MSE.

And, yes, check your accounts regularly.

davethorp

If cancelling a product such as insurance it's always best to do it in writing by recorded delivery so you have proof the cancelation was received.

Retentions departments for a lot of companies are incentivised based on customer numbers retained and as such cancelations done over the phone are not always actioned

castle96

I had a client in the same position (not my fault). He was able to prove to each Company that he had been insured with both and obtained 28 mths premium refund (proportionate from each I think). Seems you way forward (now)