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Andyorch

I wanted to switch to another insurance firm, M&S sent in debt collectors

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A reader wanted to switch pet insurance provider, but was threatened with enforcement action by her current provider M&S Bank

 

I received the renewal documents for an M&S pet insurance policy which I have had for a number of years. I decided to shop around and managed to find cover with the same benefits elsewhere for considerably less, so I decided to cancel my direct debit.

 

Two weeks later I received a letter from M&S Insurance telling me that a “default notice” had been served. I was concerned by the tone of the letter, telling me that I had breached the terms of a loan agreement with Royal & Sun Alliance Insurance and asking me to take action.

 

https://uk.finance.yahoo.com/news/wanted-switch-another-insurance-firm-114613800.html


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My mother had a similar letter after I advised her to cancel a home emergency cover policy from RSA. After reading the small print, I concluded that after the exclusions were taken in to account, it provided zero cover. The annual premium would have been better saved to call out a local tradesman in the unlikely event something needed doing.

 

RSA posted their nasty letter threatening all sorts of things, and on reading it, I gave them a very strongly worded telephone call pointing out the errors in their ways. The next letter from them was an apology claiming it was a misunderstanding.


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...I decided to shop around and managed to find cover with the same benefits elsewhere for considerably less, so I decided to cancel my direct debit...

 

If you read the linked article, you'll see that the letter wasn't a result of shopping around and wanting to leave, or due to policy auto-renewal, but because the direct debit was cancelled, probably too early, and the final payment of the policy, £ 14.85, couldn't be collected.

 

So the lesson of the story: Don't be too eager to cancel direct debits until you are sure that all the required payments have been made.

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