Re: COOP insurance took payment but I did not wish to renew policy, what happens now?

qaiszqaisz

Hi guys, long story short, got young drivers insurance last year with coop, it was due to expire on 01/11/2015 (1st november tomorrow). I spoke to someone from coop a few weeks ago on the phone and they said I have to call closer to the time to cancel the agreement, fine, I waited.

However I just remembered today, tried to call but phoneline is down, they have already taken a payment on 28/10/2015 and automatically renewed my policy, I recall getting a new agreement on mypremiumcredit website but I did not sign anything new or agree to anything...

They have already taken a payment of £199. Phone lines are down until Monday.

What can I do here? Can I get my money back if I cancel the insurance on Monday via phone? If they won't give me my money back will my insurance last for November since they have already taken a month?

I know I should have acted earlier or set a reminder but I have been so busy and now this has happened...they increased my insurance by £600 and there was no way I wanted to continue with them, I made it clear on the phone I have no plans to continue.

agrinnall

Generally you would have to cancel the policy and pay the appropriate charges, but you may be able to take advantage of already having informed them that you didn't want to renew. I can't see any reason why they couldn't have accepted that at the time you did call, so I'd use that as a lever to get them to refund the payment they have taken and void the renewal.

Have you taken out insurance elsewhere? If you haven't you'll need to have another policy lined up ready to go once the Co-op one is no longer in force - and I would strongly suggest not having an accident in the next couple of days as it could get very messy if a claim had to be processed.

qaiszqaisz

I have taken out insurance with another company now yes, I cancelled the direct debit and requested cancellation of the agreement on mypremiumcredit...they had not taken the money yet.

Should I still call co-op tomorrow and confirm cancellation?

agrinnall

qaiszqaisz wrote: »

...they had not taken the money yet.

So what does this mean?

qaiszqaisz wrote: »

They have already taken a payment of £199.

qaiszqaisz

agrinnall wrote: »

So what does this mean?

Well according to my premiumcredit it said a payment/balance of £199 had been taken on 28/10/2015, but according to the bank they had not taken any money since September, so promptly cancelled the direct debit and requestes agreement cancellation on mypremiumcredit.

I'm not sure what that amount even is, can't find that figure in any documents.

POPPYOSCAR

agrinnall wrote: »

Generally you would have to cancel the policy and pay the appropriate charges, but you may be able to take advantage of already having informed them that you didn't want to renew. I can't see any reason why they couldn't have accepted that at the time you did call, so I'd use that as a lever to get them to refund the payment they have taken and void the renewal.

Have you taken out insurance elsewhere? If you haven't you'll need to have another policy lined up ready to go once the Co-op one is no longer in force - and I would strongly suggest not having an accident in the next couple of days as it could get very messy if a claim had to be processed.

Did you tell them specifically not to renew automatically?

qaiszqaisz

POPPYOSCAR wrote: »

Did you tell them specifically not to renew automatically?

I did not specify that specifically, I just said that I do not wish to continue I want to cancel and he said I should call back closer to the time and I said ok...feel stupid looking back, never had car insurance before should have figured there would be some auto renewal crap going on.

I just assumed if there was a yearly policy they can't automatically start taking money on a new agreement without me actually having to agree to the new price/sign something or accept an online credit agreement etc...