Dynamo cover retrospectively increasing price

BeardedOneder

I took out a breakdown policy with Dynamo in late October 22. Shortly after getting confirmation the policy was set up and a review of the policy documents, I emailed them on their "admin" address to get confirmation my wife was also covered when she drove our car (the policy documents specifically did not mention a 2nd drive would be covered).

A month later they still hadn't replied, so I email them again to cancel the policy. The provided a link to do so, but once I completed the online form, it advised me there would be a further £15 admin fee. I backed out of that and emailed them again to ask what the admin fee was all about as their online sales literature said I could cancel at any time and made no mention of any fees to do so. I decided to let this sleeping dog lie and simply not renew in October 2023....

Yesterday, I received another email advising they are increasing the premium by RPI + 3.4% - a total of 17.2%!. Not only that, they were back dating the increase to the date the policy was taken out and to cap it all they were taking the increase based on the gross price and not the nett (so called discounted) price I actually paid. And they said they will debit me by 5 March and if the payment were to be declined they would invoice me directly.

Exactly who are these charlatans? They make it impossible to contact them, ignore emails and then have the temerity to sting unsuspecting customers in this fashion.

Curryboarder

Same here.  Applied to a unknown full premium and not what i paid and backdated.  I dont think this is right so will complain to them (no response plus limited to 250 words) then FOS.  I cant see how backdating it is allowed.  I used confused comparison site.  Works out about c40 percent increase.  Has Martin done a review on mid term increases?  Seems more of us are unhappy with how it is being used in various ways.  

TonyGrapes

Same story here.  13.4% RPI increase, plus 3.8% on top, backdated to last November and calculated against the pre-discount premium.  Comes to an increase of 32% against the price actually paid.  Scam.  The charge to cancel is greater than the proposed increase.  There is a clause about pricing in the original policy documentation, but it reads as though its a company being regretful but transparent about next year's increase, not creating the facility to up the charge for a service you've already paid for.,

MASB

I bought an annual policy paid in full at the time of purchase....and Dynamo have just taken an extra £9.20 because their costs have gone up. Is this legal? Seems to me it makes it impossible to compare prices when you buy the policy.

623q

Tried to cancel a breakdown policy I no longer needed well within the cooling off period. To cancel online they force you to large penalties even though it’s 3 days into the cooling off period so 100% refund should have been due. Tried to call instead and was on hold for over 35 minutes before I was automatically cut off. So I’ve been forced to incur £50 of charges for a £100 policy I no longer wanted or needed, disgusting.

623q

The insurance company was Dynamo Cover btw