Set up fee for renewal

ANGLICANPAT

Im stuck with one insurer because of subsidence( albeit arguable and really minor.but thats another story ) For the first time this year on my auto renew(which I dont remember agreeing to) using held bank details , they have charged me what they call a set up fee for arranging a renewal . £20 for a £155 premium ! Not only that but the reminder telling me they had renewed and taken the money came 6 days before this years contract ended so I had no time to haggle . Nothing had changed about my details . Anyone elses company charging set up fees for such a straight forward thing?

dunstonh

For the first time this year on my auto renew(which I dont remember agreeing to) using held bank details , they have charged me what they call a set up fee for arranging a renewal . £20 for a £155 premium

Quite normal now. Its part of the slow unbundling of commission with insurance.

Anyone elses company charging set up fees for such a straight forward thing?

yes

Its a fairer system and those with larger premiums will be better off. Those with smaller premiums may be worse off as they lose part of the cross subsidy from the larger premium payers.

Grey_Critic

You should never auto renew. It always surprises me that people claim that they live such busy lives as the reason. Sorry but if your life is really that busy you need to have a rethink.

ANGLICANPAT

Grey Critic. I cant move company anyway for this property . Even if I had had time to haggle, I dont have any leverage to argue with them .

ANGLICANPAT

Ah I see, I wasnt aware of the unbundling for insurance , thanks Dunstonh.