The Auto Renew Insurance Con – Call For Action!
Friday, 26. February 2016
Having just renewed my insurance I have first hand experienced of the way that crooked insurance companies are trying it on through the ‘auto renew’ con. I had the paperwork through explaining that they had researched the market on my behalf in order to achieve the best possible rate which in fact increased my premium by a third.
But by expressing the new premium in monthly terms on the face of it the figure could have easily been overlooked and being lazy I could have continued on with the same insurer. But having checked the previous year’s premium I was staggered and immediately jumped on comaparethemarket.com (free cinema ticket every week for a year – there’s my dates off match.com sorted for the next year).
When I saw the premiums I was staggered. I was about 40 quotes down the list before the premiums were anything close to the quote from my existing insurer. In fact the quote I went for with the RAC was about £100 a year less than the premium I paid last year. I had a similar experience with Mcafee for my computer protection insurance. I paid the Argos shop £19.99 for one year’s protection last year.
When it came up for renewal they were going to hit my credit card to the tune of £89.99. When I phoned to say I didn’t want it they said they would reduce it to £45.99. After checking with Argos I told the lady to shove it. I believe that if you sign up to auto renew a policy of any kind, if the premium increases by more than say 5% for whatever reason it should be clearly explained and you have to opt in rather than opt out. Rant over! By Graham Hill
