MSE News: The devil is in the details: Insurers charge huge fees for simple changes

Blibble

tight4rse wrote: »

@lock1rocks did you complain or just pay up?

If I were you I'd write a formal complaint demanding your £47 back. Chances are you'll get it.

These companies and sadly alot of people on this forum are quick to scream "read the terms and conditions."

They're not too quick to justify their fees when faced with a challenge. If you get no satisfaction you've absolutely nothing to loose by taking them to the financial ombudsman. This will result in them having to pay a hefty fee regardless of the outcome.

I don't know about you but I work too hard to allow these shysters to pocket a day's wages for pressing a few buttons.

Even if you loose at the Financial Ombudsman you'll have cost them about £500. Not many business are going to be happy about paying that for the privilege of being able to keep £50.

My insurer always crawl back down their hole the moment I contact customer relations.

It's great and all that you had a positive outcome, but you must accept that the "read the terms and conditions" brigade have a point? Your argument is akin to buying a pint of milk and asking to know how much profit goes to the farmer or the supermarket - it's a commercial decision and they don't have to justify their pricing structure to you. As long as you have an opportunity to know what the fee is when you sign up to it, I see no reason why any insurer should do any more?

User_101122

but you must accept that the "read the terms and conditions" brigade have a point? /QUOTE]
Not at all just because a company writes something down in size 4 font in a 35 page booklet, it doesn't mean I have to do as it says.
The FCA states that administration fees should reflect the actual cost of the administration. I'm therefore not going to fork out for exhoboroant fees just because it's in the t&c's. Like I said I work way to hard for my money. Refuse to be ripped off just because the terms and conditions say so.

Your argument is akin to buying a pint of milk and asking to know how much profit goes to the farmer or the supermarket - it's a commercial decision and they don't have to justify their pricing structure to you. As long as you have an opportunity to know what the fee is when you sign up to it, I see no reason why any insurer should do any more?/QUOTE]

It's the same argument exactly. The supermarket is under no obligation to tell me. In those circumstances I can then refuse to buy the milk from the supermarket. If an insurer justifies the fee to me I'll have to pay it, if it refuses then I'll will refuse to pay up.

Blibble

Your argument is akin to buying a pint of milk and asking to know how much profit goes to the farmer or the supermarket - it's a commercial decision and they don't have to justify their pricing structure to you. As long as you have an opportunity to know what the fee is when you sign up to it, I see no reason why any insurer should do any more?

It's the same argument exactly. The supermarket is under no obligation to tell me. In those circumstances I can then refuse to buy the milk from the supermarket. If an insurer justifies the fee to me I'll have to pay it, if it refuses then I'll will refuse to pay up.

If it's the same argument, then you can refuse to purchase the policy if you disagree with the fee.

User_101122

Unfortunately you don't have a choice, the law says I need car insurance to drive and the insurers take advantage of this by hitting honest people with rediculous fees. The law doesn't say that I need to pay them rediculous fees for a slight ammendment. I know that if I want the policy I have to tick a box somewhere that say's I agree to everything, I also know that if I complain to the right people I will get what I want most of the time.

They charge this fee not because it costs them £25 but because they can, because they know that 99% of people will moan about it and then pay up only to do very little other than !!!!! about it later on facebook. They make vast profits of the mugs who are willing to be ripped off so they just cave in when faced with somebody who stands their ground and kicks up a fuss.

Lets face it at the end of the day, whilst the person in the call centre is dealing with the 1 person who is refusing to pay there are about 10 suckers on hold just waiting to give the insurer £25 pressing a few buttons. I therefore find the complaining strategy works everytime.

Are you a mug or do you stand your ground?

Amst

tight4rse wrote: »

@amst

asinine

You could have said foolish or stupid instead of trying to make yourself sound more intelligent than you actually are.

If you'd give your future business to a company who treated you this way then perhaps it's you that's . Either that or you've got more money than sense, in which case this probably isn't the right blog for you. We're about saving money not giving it away.

Trust me, I am smarter than you so how intelligent that makes me is up for debate. Also make more than £50 a day but that's by the by! :rotfl::money:

User_101122

Trust me, I am smarter than you so how intelligent that makes me is up for debate. Also make more than £50 a day but that's by the by!

Well you see you say that, but then you're happy to throw your money away to a call centre for changing your job title on their records. Maybe you are smarter than me and realise you're being ripped off but just don't have the spine to stand your ground and do anything about it.

And as for trust, I don't know many people who'd trust or expect a sensible debate with somebody who comes on moneysavingexpert.com and tells people it's smart to throw their money away.

Congratulations aswell on earning more than me. You'll need the extra money to pay your insurance admin fees that you don't have the b*****s to challenge.

paddyandstumpy

tight4rse wrote: »

Well you see you say that, but then you're happy to throw your money away to a call centre for changing your job title on their records. Maybe you are smarter than me and realise you're being ripped off but just don't have the spine to stand your ground and do anything about it.

And as for trust, I don't know many people who'd trust or expect a sensible debate with somebody who comes on moneysavingexpert.com and tells people it's smart to throw their money away.

Congratulations aswell on earning more than me. You'll need the extra money to pay your insurance admin fees that you don't have the b*****s to challenge.

Who put 50p in this d**khead to re-ignite this bloody argument again?! :wall:

User_101122

Who put 50p in this d**khead to re-ignite this bloody argument again?!

It was Amst, and by the sounds of it he's got plenty more 50p's to spare.

To cut a long story short somebidy else was feeling a bit peeved at being ripped off also. Being the kind of guy I am thought I'd offer some advice on how I deal with such matters.

Amst didn't like it so instead of offering alternative help he waded in trying to insult people with some big words he learned on the internet.

And then you came back from under your rock. You couldn't make it up.

If anybody wanted your opinion sweetheart they'd kick your kenell.

Blibble

tight4rse wrote: »

Unfortunately you don't have a choice, the law says I need car insurance to drive and the insurers take advantage of this by hitting honest people with rediculous fees. The law doesn't say that I need to pay them rediculous fees for a slight ammendment. I know that if I want the policy I have to tick a box somewhere that say's I agree to everything, I also know that if I complain to the right people I will get what I want most of the time.

They charge this fee not because it costs them £25 but because they can, because they know that 99% of people will moan about it and then pay up only to do very little other than !!!!! about it later on facebook. They make vast profits of the mugs who are willing to be ripped off so they just cave in when faced with somebody who stands their ground and kicks up a fuss.

Lets face it at the end of the day, whilst the person in the call centre is dealing with the 1 person who is refusing to pay there are about 10 suckers on hold just waiting to give the insurer £25 pressing a few buttons. I therefore find the complaining strategy works everytime.

Are you a mug or do you stand your ground?

The law doesn't, however, stipulate that every motor vehicle policy must come with such a fee. If this is so important to you, read the policy terms before purchase and choose one without a cancellation fee.

User_101122

Yawn.

Read the previous post mate.

I'm not paying more money upfront for a policy that doesn't charge fees, when I can get a cheaper one and get the fee waived by customer relations should I need to make an amendment mid term.

Like I said that way I get my cake and eat it.

If you have a fee in the t&c's which you can't justify then I'm not paying it. End of!