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Automatic Insurance Renewal Problem
zvonkokracun
Posts: 38 Forumite
having just been stung with automatic renewal, i would like to ask, if the FSA agreed, that all cards can be debited, or if it is only credit cards ?
my credit card company said, unless i cancel, they have the right to renew forever. if i changed the credit card company and forgot to cancel an insurance, i would owe them any furure automatic renewals, the credit card company would then claim from me. having read the threads on this subject, i get the feeling, most consumers don't like it. a yes or no BOX for autom. renewals should be included in all applications and not assumed.
my credit card company said, unless i cancel, they have the right to renew forever. if i changed the credit card company and forgot to cancel an insurance, i would owe them any furure automatic renewals, the credit card company would then claim from me. having read the threads on this subject, i get the feeling, most consumers don't like it. a yes or no BOX for autom. renewals should be included in all applications and not assumed.
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Comments
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all cards can be used on an auto renewal.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Although you may have an automatic renewal, surely the company should have contacted you to let you know the amounts to be taken and when. If you called them to cancel before this date then there shouldn't be a problem.0
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Although you may have an automatic renewal, surely the company should have contacted you to let you know the amounts to be taken and when. If you called them to cancel before this date then there shouldn't be a problem.
Back the telephone call up with a fax or letter sent by recorded delivery. Lots of companies will claim they have not received telephone calls particularly if it is cancelling something.I'm not cynical I'm realistic
(If a link I give opens pop ups I won't know I don't use windows)0 -
The renewal invitation that you received will clearly state it will be automatically renewed IF it is an auto renewal, check your letter and if states this then its your own fault (without appearing to be rude) if it doesnt mention it then of course it is the insurers fault and they should then cancel with no charge.
Claiming that you have not received your renewal wont work either, the insurer has done their bit by sending it, once the royal mail have hold of it then its out of the insurers hands, you as the client (if you hadnt received the letter) have a responsibility to call the insurer to chase it.0 -
Absolutely agree with Jeanette; "I didn't know" is no excuse and you need to actually read the papers that the insurance company send you, as well as know when your insurance is due.
If you have arranged insurance elsewhere, phone the company up, apologise for wasting their time and ask for your money back.In the beginning, the universe was created. This made a lot of people very angry and was widely regarded as a bad move.The late, great, Douglas Adams.0
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