Car insurance chaos left me with THREE policies (and drove me mad)
THE cost of my car insurance with More Than increased dramatically to £ 325. On a comparison site, I found More Than cover for £214. I chose this and paid by credit card.
When I received my bank statement, I saw More Than had taken £325 from my debit card. I demanded it refund this and also cancel the £214 payment for the new policy.
I am still waiting for both refunds. Meanwhile, I have three insurance policies — one from a new insurer I chose, and two from More Than. SurPrISe rises in car insurance prices can make us see red. But I’m afraid your muddle is partly of your own making.
When you bought your original policy in 2018, you agreed that More Than could retain your card details for automatic renewal. The firm wrote to you on July 23 last year confirming this.
On July 1 this year, it wrote to remind you of the automatic renewal. You didn’t contact the firm to cancel, so the payment went through.
More Than makes the point that auto-renewal is legal and standard practice in the insurance industry. It is there to make sure you don’t illegally drive without insurance when a policy expires.
A system error meant your refund request was processed late. You have been offered £75 compensation for this.
The new More Than policy you chose for £214.89 was not like for like. It included a voluntary excess of £100, did not protect your no- claims discount and included your spouse as a driver. More Than admits it also added a new business discount.
The second policy has now also been cancelled and you have received a full refund. So you have your £540 back, plus £75 compensation.
When using a comparison site, it is vital to make sure you are checking like with like, otherwise you could end up under- insured or not covered for things you value, such as legal protection.
More Than says that if customers can find cheaper quotes elsewhere, they should call it to discuss the options.
I say that if insurance companies value our custom, they should offer us the best price without us having to phone them and negotiate! I HAVE banked with NatWest for more than 50 years. About 30 years ago, it offered me a Gold card with an overdraft of £10,000.
The interest was bank rate plus a further 5 pc or 6 pc.
About two years ago, it unilaterally breached this contract, charging me a higher rate of about 9 pc.
It then moved me on to its so-called ‘tailored’ account, the interest of which is about 19 pc. To say the least, I find this to be punitive. R. P., Exeter. I’M AfrAId that rBS, which owns NatWest, was entitled to change the interest rate. It wrote to Gold customers in 2015 advising that the account was being rebranded.
Customers were given 60 days’ notice of the variation, in line with regulations.
I have seen a copy of the letter, which clearly states: ‘We’re no longer going to be offering Gold Plus.’
It also confirmed that you were pre-approved for the new credit card and provided a representative interest rate for this.
You may have been with NatWest for more than 50 years, but if you’re not happy with the service or interest rate you are being charged, then perhaps it is time to consider moving elsewhere. FOR 20 years, I paid £25.25 a month into an Aviva life policy. In December 2018, the company phoned to say I had missed two payments, and asked if I wanted to carry on.
I was told there was £45,000 to be paid out in March, so I chose to continue with the payments.
March came, and nothing arrived. I phoned and was told that I wouldn’t be receiving any payment as this was life insurance, not an investment policy.
The money I have paid now seems a complete waste. C. C., Essex. I CAN assure you these payments were not a complete waste of money, because they have given you life cover for the past 20 years.
If you had died within that period, then your beneficiaries would have received £45,000 — but the good news is that you are still with us.
Aviva cannot trace any call where you were told you would be paid £45,000 as a lump sum.
The original sales documents are very clear that the plan was set up to provide life insurance, which would pay out should you die within the policy term.
However, Aviva is willing to accept that there may have been some confusion as a result of the phone call, so it is refunding your last two premiums, totalling £50.50.