Dynamo Cover RPI Increase

katiekat26

Has anyone else had money taken off them by Dynamo cover as part of an RPI/Inflation increase?

I paid in full for a gap insurance policy back in September and then two days ago they've charged my card for inflation fees. I didn't give them permission to do this and had no prior knowledge before the money was taken. 

I was of the impression that paying for a service up front in full meant it was paid for and done, charging my card again seems underhanded and very shady. Does anyone have any experience with this or know if it's worth fighting? I've logged a complaint with them but they don't have a customer service line only sales, and they only work Mon - Fri. 

Ectophile

There has already been a thread on this: https://forums.moneysavingexpert.com/discussion/6353864/annual-rpi-increase-on-already-paid-breakdown-insurance

Regulatedcomplaints

I just got a refund after putting in a complaint

MASB

They have refused to refund me following my complaint - and they make communication so time consuming it's not worth my while chasing for £9.95. Outrageous that this company gives a quote for annual insurance, and then takes what more it likes mid term. Makes it impossible to compare premium costs when buying the policy. If this isn't illegal, it should be. I have insisted on written confirmation that they have cancelled auto-renew, and I have changed my card details (easy on Chase) to stop them helping themselves to more of my money. Plus a 1 star review on TrustPilot.

Aylesbury_Duck

MASB said:

They have refused to refund me following my complaint - and they make communication so time consuming it's not worth my while chasing for £9.95. Outrageous that this company gives a quote for annual insurance, and then takes what more it likes mid term. Makes it impossible to compare premium costs when buying the policy. If this isn't illegal, it should be. I have insisted on written confirmation that they have cancelled auto-renew, and I have changed my card details (easy on Chase) to stop them helping themselves to more of my money. Plus a 1 star review on TrustPilot.

Is that true, or is it in the terms and conditions you agreed to when you signed up?  I'm not defending the morality of it, but if the contract allowed for a specified increase linked to RPI (rather than just any increase they dream up) then they're not doing anything you didn't agree to in the contract.

born_again

MASB said:

They have refused to refund me following my complaint - and they make communication so time consuming it's not worth my while chasing for £9.95. Outrageous that this company gives a quote for annual insurance, and then takes what more it likes mid term. Makes it impossible to compare premium costs when buying the policy. If this isn't illegal, it should be. I have insisted on written confirmation that they have cancelled auto-renew, and I have changed my card details (easy on Chase) to stop them helping themselves to more of my money. Plus a 1 star review on TrustPilot.

You are aware that both Visa & Mastercard have a card number update system that retailers have access too..
So changing card number is not guaranteed to work.

If they are a insurance company & covered by FOS. Start a complaint. Wait for the deadlock letter, 8 weeks is up & then let FOS sit in judgement on the increase.