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General => Insurance => Topic started by: *Dubby* on 28 April 2007, 11:17

Title: A general question about insurance practice...
Post by: *Dubby* on 28 April 2007, 11:17

Just need to know if an insurer (be it personal, or in this case business fleet insurance) has an obligation by law to let you know what your renewal premium is, a certain time before the actual renewal date?

Ie, can they let you know on the day of renewal what the price is, thus leaving you no time to shop around and get a cheaper price, in effect forcing you to take their policy for another year...?

Thanks  :smiley:

Title: Re: A general question about insurance practice...
Post by: martinb on 28 April 2007, 14:24

Fsa guidelines say

"No less than 21 days before the expiry of the policy a firm must take reasonable steps to notify the customer if the insurer is willing to invite"

Hope that helps.

Martin  :smiley:

 

Title: Re: A general question about insurance practice...
Post by: *Dubby* on 28 April 2007, 20:03

Thanks Martin  :smiley: