Warning promotion of insurance from Homeserve by your local water company

stephenliverpool1

Amazing.....he/she has suddenly re-appeared. Not sure why as I doubt that he/she will gain any new customers via this thread.

lincroft1710

Poppycat wrote: »

I am fed up of getting these a couple of times a year. I have already had one this year but expect another one later in year. I am fed up of companies using our personnel data to sell you other things

I should be trebly fed up then, I seem to get one every other month!

g0rsq

Just found I am being stung for this insurance!


Took out several years ago when £50 per year, as not expensive, and gave peice of mind.


Just checked latest bank statement and renewal is now £120, but worst is they only took the money AFTER the 14 day cooling off period for online purchase had expired, so when I have noticed on my statement, i have lost my right to cancel!


Didnt recieve any online or postal notification of increase, or about to auto-renew.


Steer well clear, or keep well in control of this companys practices.

agrinnall

g0rsq wrote: »

Just found I am being stung for this insurance!


Took out several years ago when £50 per year, as not expensive, and gave peice of mind.


Just checked latest bank statement and renewal is now £120, but worst is they only took the money AFTER the 14 day cooling off period for online purchase had expired, so when I have noticed on my statement, i have lost my right to cancel!


Didnt recieve any online or postal notification of increase, or about to auto-renew.


Steer well clear, or keep well in control of this companys practices.

This is almost certainly your error. There is no cooling-off period for renewals, so it doesn't matter when the payment was taken. And you will have agreed to either a DD or a CPA when you first signed up, so it's up to you to cancel if you don't need the service any more.

g0rsq

A renewal is classed as a new contract.


When you purchase your insurance your contract length is just 12 months. A renewal is a new 12 month contract, so you have your 14 day cooling off period (but may be charged administrive costs and for the days of cover)



If it was not a new contract then they could not increase the premium!


I accept it was my error for not keeping in control of this expenditure, but no renewal notification (post or e-mail), and taking the money from my account 16 days after the renewal date!!!!


Just checked last years statement, and again taken on 16th November, but cost was only £60....
Year before that 18th November, cost £58



Doubled the price without notifying me, and always taking payments 16 days after renewal dates.


Judge for yourself.....


Direct debit now cancelled for next year



In fact will contact my bank as this is a breach of the Direct Debit Guarantee.

Hermione_Granger

agrinnall wrote: »

This is almost certainly your error. There is no cooling-off period for renewals, so it doesn't matter when the payment was taken.

The clue as to why this is incorrect is in the name, renewal.

A rolling contract doesn't have a 14 day cooling off period but a renewal is a new contract that may have different terms, conditions and charges to the original contract, hence the reason for there being a cooling off period.

BlobbyBlobbyBlobby

had took up the offer on a rental property we own @ #6.00 first year. Daft not to take it. Last year it went up to 99.00. Ok, a huge jump but as we are 2.5 hours away from the rental property we felt it was worth it. Renewal letters (we have our own property on cover with them too) came in and I almost filed them away but as I was doing so I glanced at this year's premiums. ……...OMG!
The rental one was 99 ...now 236 and the home one was 78 ....now 192 !!! increases of over 140%
This will be an interesting phone call!
I'm pretty sure I'll be advising Homeserve to file my renewals where the sun don't shine. But how many, perhaps vulnerable, people fall for this disgusting hike in premiums.
I've been told that if you phone and threaten to leave they will barter on the renwal price. That makes me feel even more sick and disgusted with them!
Adios Homeserve.

Update - having just phoned Homeserve: on the rental their first offer was to reduce the premium from 236 to 202. 2nd offer was to reduce it to 168.70.
on the home policy...it was 78, going up to 192. their first offer was 154, their 2nd and 'best offer' was 104 or 48 if I take a 50 excess.
The call handler was very polite and helpful. no complaints about that. But I have cancelled both policies and left them with my feedback.

mcmp59

In reply to BlobbyBlobbyBlobby's post - I took out the first year promotion at £1 a month which went to £99 a year for year 2, fair enough and a reasonable price. This year they want £192 - a 94% increase. If my pension was going up at that rate I would happily pay, but it isn't so I'm not! Why do these firms think that auto renewal means they can rip you off. Funny how they can bring the price down if you call. Why not treat us fairly in the first place - oh that will be because many people just let the renewal go ahead and so they make enough from them to make it worthwhile.

dcfc67

My water company (Seven Trent) are selling cover for £1 a month with a £30 excess per call out.
Last year I was paying £6 a month, this year they wanted £10 a month so I cancelled.
Both of these were with £0 excess.

g0rsq

Just recieved an invite to sign back up with Homeserve.


Considering they were asking 120 per year renewal, they are now offering a very similar, if not identical, cover for....£1 per month!


However I now have full cover on my house insurance, so will decline this offer.


At £1 per month it is good value, but it quickly gets hiked up if you do not keep an eye on it!