Yes Insurance car insurance

sexysam

Took out a policy with them last year.They have automatically renewed and deducted £463 out of my account, hence taking me into overdraft.

I recieved no reminders/renewal notice prior to the amount being deducted.

I have managed to obtianed a new quote of £285 with LVE.
I rang YES and they told me I have to pay cancellation fees. I have argued had they sent me a renewal/reminder notice with the new quote, I would not have accepted and gone somewhere else.

Are they right to renew without sending reminders to customers in the first place?

Thanks

stugib

sexysam wrote: »

I recieved no reminders/renewal notice prior to the amount being deducted...had they sent me a renewal/reminder notice with the new quote, I would not have accepted and gone somewhere else.

I'm confused, did they send you anything or not? I would've thought your 'new quote' was the renewal notice with notification that renewal would take place if you didn't intervene.

missile

I guess you signed a DD mandate for auto-renewal? Nevertheless, I believe you have 15 days to cancel @ no cost. If you get no joy, complain to www.fscs.org.uk

raskazz

missile wrote: »

I guess you signed a DD mandate for auto-renewal? Nevertheless, I believe you have 15 days to cancel @ no cost. If you get no joy, complain to www.fscs.org.uk

1) You don't get 15 days, you get a 14-day cooling off period.
2) If you exercise your right to cancel under the cooling-off rights you can still be charged for the time on cover you had since renewal plus an administration fee.
3) The FSCS has nothing to do with this. It deals with the liabilities of financial services that they cannot cover, i.e. when a bank/insurer etc goes bust.

To the OP - you are assuming that because you did not receive the renewal notice that it was not sent. I think it is far more likely that the renewal notice was sent but got mislaid by the careless postal service.

sexysam

I got no renewals at all. The first I noticed it when i had gone into overdraft.I rang them up and they said I had agreed up to an automatic renewal last year when I took policy out. They will charge me £20 plus the 7 days cover that I have had.

raskazz

sexysam wrote: »

I got no renewals at all. The first I noticed it when i had gone into overdraft.I rang them up and they said I had agreed up to an automatic renewal last year when I took policy out. They will charge me £20 plus the 7 days cover that I have had.

Unfortunately I don't think you have any valid reason to avoid paying this. Whether you received the renewal notice or not is largely irrelevant as all the insurer has to do is post it. The automatic renewal process would be specified in your initial documentation.

brownbabygirl

I am also with YES with renewal due in November. I am sure I did not opt for auto renewal but will def check NOW!

missile

raskazz wrote: »

1) You don't get 15 days, you get a 14-day cooling off period.

In the documents I recieved under Right to cancel and cooling off period

If you canacel within 15 days of receiving your policy (or within 15 days of the start date shown on your schedule if this is the later) you will be entitled to a full refund of that premium.....

i.e. 15 days to cancel @ no cost. However, I have no idea whether my company was exceeding the statutory minimum requirement, hence "I believe"

If OP feels mistreated, he can and should complain to FOS see http://www.financial-ombudsman.org.uk/

missile

brownbabygirl wrote: »

I am also with YES with renewal due in November. I am sure I did not opt for auto renewal but will def check NOW!

If you authorised auto renewal, you should be able to see DD authorisation via online banking and you can cancel the authorisation.

brownbabygirl

missile wrote: »

If you authorised auto renewal, you should be able to see DD authorisation via online banking and you can cancel the authorisation.

I have not seen that so I guess I am fine. Thanks!

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