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And because you theoretically didn't complete the year, your NCD wouldn't improve.
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I got a renewal quote from my insurance company but it was alot higher than i expected.I went onto the comparison websites and renewed my insurance approx £40 cheaper than the other company.All sorted,or so i thought.
Next thing i know,i get a cover note from my old insurance company,thanking me for my renewed custom.I rang them up and found out that they had already debited my account for the premium.I told them that i had already taken it out with someone else and so could they cancel the policy and give me my money back.They said they would.When i checked my bank statement they had refunded my money minus £40.I rang them up and they said the £40 was an admin charge.Evidently,in the small print of their policy,it said that if i didn't cancel the policy before it ended then they would assume that i wished to take out the next year aswell.In all my years of driving i have always had it that if you didn't renew the policy then i wouldn't pay anything.
The moral of this tale is to ring your insurance company up a week before your policy expires to let them know that you won't be renewing with them.
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Same thing happened to me - in all the years of insuring cars I've never been charged for actively not renewing with a company - until this time...
I read the small print and it was indeed a condition to let them know regardless.
Be warned, these insurers use a particularly aggressive debt recovery firm, who will harangue you at all hours of the day and night.
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yeah we sort had a similar thing
took out new insurance and after some time they supposedly sent a letter requesting proof of no claims which we never got , so as they had no response they cancelled the insurance and wrote to us
so while the letter was on its way we were unknowingly driving with no insurance
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I rang them up and found out that they had alreadydebited my account for the premium.
This is against the Direct Debit gaurantee scheme. Your bank should refund the money.
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It may not be if they informed you of now much they would be taking and when this transaction would happen.
I now always read the renewal carefully as auto renewals have crept in. Last time I had an auto renewal was with Frizzell (now LV=) which I was happy with I noticed the card details were wrong so I had to call them anyway.
I am pleased to report LV= do not do auto renewal any longer.
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I am pleased to report LV= do not do auto renewal any longer.
I didn't know that, and think it's a shame if correct. Both mine and Mrs BP's cars are with LV= and every renewal I ring then and ask them not to auto-renew. They ask why, and I tell them they're too dear. I make up a number and they usually meet me a bit more than halfway. The amount we actually pay has dropped quite dramatically over the last few years.
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