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Car Insurance renewal

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Well, it's that time of year again :-(

 

Car insurance renewal came through the post at £414.23. And that's with 5 years NCD :evil: (wanders off muttering about money for old rope etc)

 

Had a look at the Meerkat and on You're So...

 

Found a policy for exactly the same cover with the RAC (as broker) for £310. Insured by the same company that wanted over £100 a year more!

 

My current provider had flatly refused to budge on their renewal quote. You really couldn't make it up sometimes (unless you work in insurance it seems).


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Same happened to me last month DF....found the same insurer same offer exact cover through Confused...went on live chat to the insurer they told me to cancel auto renewal and take the on line offer....£150 cheaper as an existing customer.....who is ripping who off :-)

 

Andy


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My insurance went down at the last renewal, only by a few quid in just under £300 but still in the right direction. Have to wonder if it might be because I make it very clear year on year that they do not have continuous authority and therefore no auto renewal. I still get a succession of renewal notices, in plenty of time and with an ever increasing sense of urgency (panic?) - by post on real paper delivered to my door so there's no 'forgetting' to renew.

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I thought it was now a legal requirement to have auto renewal on car insurance?

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I thought it was now a legal requirement to have auto renewal on car insurance?

 

No. It's not a legal requirement, that's just how the insurance industry have chosen to interpret it, probably hoping that they can swing a lot of dubiously inflated renewal prices in under the radar of any unwary customers. (As if they'd do such an underhand thing :razz:)

 

The legal requirement is that a vehicle must be insured ( continuous insurance ) or declared SORN. So there's no just not taxing it and parking it up in your garage anymore. It's either insured (and taxed) or SORN'd.


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For the first time in many years my insurance due this month has reduced albeit by just a few pounds and this is on auto renewal.

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For the first time in many years my insurance due this month has reduced albeit by just a few pounds and this is on auto renewal.

 

Have you done a search on one of the above websites just to check what they offer new customers ?


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I thought it was now a legal requirement to have auto renewal on car insurance?

I have to wonder how many people believe that 'continuous insurance' means they must allow auto renewal.

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Is auto-renewal legal?

 

Auto-renewal is perfectly legal as long as the insurer communicates this with you. Before you take out a policy, the insurer should clearly ask you whether you want to opt-in to auto-renewal.

 

If you decide to opt-out, your insurer shouldn’t automatically renew your policy, but they may contact you asking you whether you would like to. All policies that are set up to automatically renew will do so unless the customer contacts the insurer to cancel.

 

And if you didn’t know your policy auto-renews and you took out another insurance policy, you would find yourself with two separate policies. Not only is this expensive but it can also make things complicated if you come to claim.

 

According to the Financial Ombudsman Service (FOS), it’s easy to misunderstand insurance auto-renewal. Typical complaints include customers who thought their policy would renew automatically only to discover it hasn't, and drivers who didn’t update their insurer about a change in circumstances before renewing.

 

You should contact your insurer if you're unsure of the auto-renewal process.

 

https://www.thinkmoney.co.uk/news-advice/insurance-automatic-renewal-is-it-legal-0-8477-0.htm


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Didnt like my renewal quote so went to a comparison site and got a deal for 3100 less with my existing insurer and they accepted my business. in the past insurers have refused to accept the business but it has always been cheaper to go away for a year and then you are a "brand new customer" again.

 

One thing I do wonder about though is why is my insurance still a lot more than when I bought a new shiny car now it is 9 years old and I have a lot more experience at driving it without smashing into anything else?

Edited by Andyorch
Paras

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Im sure you already know the answer EB without me typing it out here :-D


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of course but why does one not get a nice new car from the insurance claim as that is what you have paid for over the years? Could there be something amiss in this perfidious Albion that is the insurance world?

Im sure you already know the answer EB without me typing it out here :-D

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