Motor Car Insurance .. Advance Renewal Notice

A

Armada

Registered User
Messages
561
Hi All,

Can somebody please clarify for me the minimum time required by a broker to offer the next renewal premium (If there is one!).

Just in case, I am not making myself clear... If for eg... my car insurance expires on June 15th, when should I expect to get the renewal notice from my existing insurers (broker)?
 
Thanks for that, Moral Ethos. I currently have a motor policy which expires on the 15th June and as yet have had no notice. This is the second time in a month with the same broker that this has happened.

I have however arranged new cover elsewhere.

I think there is a thinking behind this "strategy"... if you give very little notice of renewal the chances of the client renewing are greater.

Is there an Insurance Ombudsman?
 
Hi the number for the Financial Services Ombudsman is 1890 882090 and the address is, The Finacial Ombudsman's Bureau, 3rd Floor, Lincoln Hse Lincoln Place, Dulin 2
 
Armada said:
I think there is a thinking behind this "strategy"... if you give very little notice of renewal the chances of the client renewing are greater.
Click to expand...
It is a very delveloped stragety by some brokers. Drop the renewal just a few days beforehand and it gives you no time to go elsewhere so the person is left with no choice but to continue with the current broker.
 
MrEBear said:
Hi the number for the Financial Services Ombudsman is 1890 882090 and the address is, The Finacial Ombudsman's Bureau, 3rd Floor, Lincoln Hse Lincoln Place, Dulin 2
Click to expand...

Thank you for that info.... As regards some brokers being underhand.. Why are we surprised!
 
I didn't realise they needed to give you advance notice- The expiry date is on the windscreen of your car!
 
tenchi-fan said:
I didn't realise they needed to give you advance notice- The expiry date is on the windscreen of your car!
Click to expand...

Really?

Its the renewal premium I was looking for, that plus my no claims bonus cert to enable me to shop around. The windscreen cert with its expiry date is n't a lot of use to me if I approach a new broker.
 
tenchi-fan said:
I didn't realise they needed to give you advance notice- The expiry date is on the windscreen of your car!
Click to expand...
Very smart!

Armada said:
Really?

Its the renewal premium I was looking for, that plus my no claims bonus cert to enable me to shop around. The windscreen cert with its expiry date is n't a lot of use to me if I approach a new broker.
Click to expand...
Indeed. You are entitled to use your 15 working days to shop around.
 
Was on the financial regulators site earlier querying an issue with my own policy and the issue of renewals in particular and came across a bit about the timeframe for issuing a renewal notice, it was under the
NON-LIFE INSURANCE (PROVISION OF INFORMATION)(RENEWAL OF POLICY OF INSURANCE)REGULATIONS 2007

and it states :
5. (1) An insurer shall, not less than 15 working days prior to the date of
expiry of a policy of insurance:
(a) where the insurer wishes to invite a renewal, issue to the
client in writing a notification of renewal of the policy of
insurance, or
(b) issue to the client in writing a notification that it does not
wish to invite a renewal, unless in the case of this subparagraph
(b) the insurer has reason to believe that the
client would not wish to renew the policy.
 
You must log in or register to reply here.
Back
Top