Paid 24 years for insurance policy that doesn't appear to exist.

Skint_yet_Again

When the AA was sold / merged my direct debit for Breakdown cover continued and when it came to renewal I phoned them for a price only to be told that no policy existed for me. I just had to provide proof of payment (bank statements) and a copy of the original policy documents and AA refunded my premiums. If you have documents and proof of payment I hope the bank will refund you if no policy has existed, but I had to provide the evidence.

SonOf

Much to our surprise neither the bank or the insurance company involved are able to find any record of our policy despite us having paid for it for 24 years.

The banks do periodically change their general insurance providers. So, a product from 24 years ago may not be one recognised by todays bank staff. Also, some banks operated an independent brokerage network 24 years ago. This meant certain general insurance products could be bought through the branch but were not bank products. again, staff today would not know they were a bank product.

MPPI can be cancelled by cancelling the direct debit. Whilst some things do require you to notify the company as well, with MPPI it will be sufficient just to cancel the mandate to end the policy.

JimmyTheWig

Blossom60 wrote: »

the fact remains that we have paid thousands of pounds to our bank for absolutely nothing and somebody owes us the money back.

If they turn around and say "oh look, we've found it" will you be in any different position to where you are now?
In which case I think it will be hard to argue that someone owes you money.

If they can't find the policy, cancel the DD and you are where you wanted to be.