Unable to cancel policy - impact on credit

Yellow_mango

I have a pet insurance policy with Sainsbury’s bank. This was taken out in 2007 and I have been paying premiums mindlessly ever since. I have never claimed. I am currently reviewing finances, and having realised that the premiums have been steadily increasing I decided this is not something I wish to pay for any longer. So I found a document and called to cancel.

However I was unable to pass their security checks. I have moved house several (maybe 8) times over the life of the policy, and not updated the address. I have also changed my phone number. But apparently my fatal mistake was not being able to tell them the breed of cat they have on their system (despite reading this from the original 2008 policy document). The cat is a rescue moggy.

Anyway. Because of this, I am apparently unable to cancel the policy. The only option they gave me was to cancel the direct debit and ignore any letters they send (which I won’t get anyway since I’ve moved and they won’t let me update the address). Apparently this will not affect my credit rating, but they are unable to confirm this in writing (as they don’t have my address or email).

I’m aware that I have been very foolish in not updating the details on the policy. And that I would no doubt be unable to claim under the policy if I even wanted to as a result of all the above. However I feel there must be a better way to deal with this. Despite their assurances, I am concerned that a default will be registered on my file if I simply stop paying premiums.

Has anyone come across anything similar?

TrickyDicky101

If you have the policy document then maybe you should offer to send them a copy they can check?

I would make a complaint to them using their official complaints procedure stating why you are doing so. When they give you their final response or after 8 weeks (whichever comes first) you will have recourse to the Financial Ombudsman Service (FOS) at no cost to you.

davidwatts

I can see why they wouldn't take any action over the phone given your inability to meet the various authentication criteria. I'd suggest cancelling the direct debit and writing to them informing them you've done so and asking them to cancel the policy. Inform them of the background, send them a copy of the policy document and, perhaps, a copy of the bank statement showing the payments coming out and your current address.

jonnyd281

TrickyDicky101 wrote: »

If you have the policy document then maybe you should offer to send them a copy they can check?

I would make a complaint to them using their official complaints procedure stating why you are doing so. When they give you their final response or after 8 weeks (whichever comes first) you will have recourse to the Financial Ombudsman Service (FOS) at no cost to you.

What is there to complain about, the OP hasn't passed the security checks and hasn't updated their address, this is not the fault of the insurance company. Complaints like that cost everyone in the long run since any costs will be passed on to the consumer..

Yellow_mango

Thank you. I am not entirely sure what I could complain about. I accept that I am at fault for not updating my address, and that they are entitled (required) to have security procedures. Even if they were more than a little rigid in applying these.

I just want a way to resolve this without paying any more for a policy which is clearly worthless to me, or having any adverse effect on my credit.

Writing to them with evidence seems like a reasonable way forward. I will try that.

TrickyDicky101

jonnyd281 wrote: »

What is there to complain about, the OP hasn't passed the security checks and hasn't updated their address, this is not the fault of the insurance company. Complaints like that cost everyone in the long run since any costs will be passed on to the consumer..

A complaint concentrates the mind of the insurer on resolving the issue and thus avoiding the FOS getting involved.

jonnyd281

TrickyDicky101 wrote: »

A complaint concentrates the mind of the insurer on resolving the issue and thus avoiding the FOS getting involved.

So the OP complains, the insurer responds finding against the complaint (they have complied with their own security procedures, entirely correctly, and be bloody sure if they don't apply the security people would be upset and complaining) you advocated in your original post going to the FOS, that costs the insurer money, which in turn costs all of us money.

Your method costs everyone money and clogs the system for people with genuine complaints that need resolving. Essentially you're advocating blackmailing the insurer.

[Deleted User]

A complaint is the right action. The insurance company's procedures are flawed and unable to deal with this situation.