Travel Insurance being collected during travel restrictions in Covid. Blatant profiteering.

phil9158

I have recently realised that during the travel restrictions in Covid from March 2020 to July 2021 (17 months ) my bank Barclays continued to take travel insurance payments from me on a monthly basis at £18 per month (£306) despite the fact it was impossible to travel. 
I have contacted the bank and they have replied it was my responsibility to cancel such. During these times I was more concerned about the illness my elderly family was suffering at the time than any travel insurance that, to be honest, I had forgotten about. 
However, at the bank and travel insurance firms across UK they would certainly not have been forgetful of this as they were collecting monies they knew they would never have to pay out on. 
I believe this to be blatant profiteering on, what could be, a major scale during an international crisis. 
A conservative estimate of, say, 1 million insurance customers paying £300 over the period is £300million. 
No wonder my bank. Barclays, has stopped responding to my calls and messages. I've been cut off twice now. 
Any ideas for my next move?
Thanks

TheMilkmansDad

check your bank statements more often and raise the issues/cancel anything you don't want/need earlier??

Edit* pressed post too soon.

It was entirely possible to travel during that period (albeit many hoops to follow).

mr_stripey

I have an annual travel policy which I pay for through work (approx £7/month for the family, worldwide and UK)

I don't always use it but it's there if I do need it. Carried on through lockdowns etc - I knew it would be there ready when I did need it without having to faf around.

It was possible to travel at the time and the insurance company didn't know you weren't using it / or to cover future bookings.

DullGreyGuy

phil9158 said:

I have recently realised that during the travel restrictions in Covid from March 2020 to July 2021 (17 months ) my bank Barclays continued to take travel insurance payments from me on a monthly basis at £18 per month (£306) despite the fact it was impossible to travel. 
I have contacted the bank and they have replied it was my responsibility to cancel such. During these times I was more concerned about the illness my elderly family was suffering at the time than any travel insurance that, to be honest, I had forgotten about. 
However, at the bank and travel insurance firms across UK they would certainly not have been forgetful of this as they were collecting monies they knew they would never have to pay out on. 
I believe this to be blatant profiteering on, what could be, a major scale during an international crisis. 
A conservative estimate of, say, 1 million insurance customers paying £300 over the period is £300million. 
No wonder my bank. Barclays, has stopped responding to my calls and messages. I've been cut off twice now. 
Any ideas for my next move?
Thanks

What do you mean it wasnt possible to travel? During that period we went abroad 6 times... a little less than we normally would but still were travelling. 

Next steps? Take their advice and remember to cancel policies that you dont require any longer. Its not for the bank or insurer to decide if you need the policy you are paying for or not. Imagine the complaint if they had cancelled travel policies because of covid or life insurance when someone says they've divorced etc and the customer "misses" the letter telling them and then needs to claim!

k12479

phil9158 said:

...they were collecting monies they knew they would never have to pay out on.

Say you booked a cruise in February 2020, travelling in December 2020. How would an insurance company know in March 2020 or April, May or June whether they would have to pay out for a trip in December? That's just one flaw of many in your argument.

CSI_Yorkshire

phil9158 said:

Any ideas for my next move?

Realise that you had the travel insurance that you were paying for during that period and move on?

Certainly to stop harassing bank staff so much that they're cutting you off on the phone.

Ayr_Rage

It was your responsibility to cancel, not the bank's.

I think this should be moved to the "vents" board. 

Next move, accept you were in the wrong.

phil9158

Crikey . . and I thought Twitter was vicious.
I am probably in part at fault here in not extending the full circumstances surrounding the Covid situation and the way in which the monies were taken for an insurance policy no longer required due to my inability to travel.
However, following 3 days of professional discussion with Barclays Customer Service Team, in particular Kerri, we have reached an agreement and the bank will be refunding me £414 (23 months) plus £30 compensation. For my part the bank has fully redeemed itself, however, I do not retract my position on my opinion that banks are profiteering during this current inflation/interest rate crisis. 
BTW I was not 'cut off' from the bank for 'harassing' staff, that's not my style, however, it transpires whilst using their Chat system in the banking app if the background app times out the chat remains live for the user but inactive from the banks end. 
This is a problem the banks are aware of and trying to fix.