Thursday, 25 July 2019
Saga car insurance. Thumbs down.
I’ve just asked for a motor insurance quote from Saga. They are promoting a fixed three year premium package ( by the way it will no longer continue to be fixed if your circumstances change, e.g. accident, claim etc. - they reserve the right to adjust.)
My renewal is due on 23rd August - I spoke to them yesterday 24th July.
The renewal premium (supposedly fixed for three years) was in the region of £700.
I was asked to submit card details for payment. I asked when would they debit my card? “Straightaway" they replied. I protested ssying that meant they would have my £700 for a month for which I would receive no value. The lady sympathised and left me on hold whilst she went to consult a manager. She came back confirming their take-it-or-leave-it policy. She pointed out that I would have the (very tenuous in my opinion) advantage of securing their wonderful offer which could possibly be withdrawn in the intervening period.
I am not a lawyer but sitting on somebody else's money for a month and giving no value is verging on the criminal. Their suggestion that I could have some value in guaranteeing their offer in case it was withdrawn in the intervening period is worthless - I would just cancel and go elsewhere, BUT in the meantime I would be running the risk of them going bust before my cover starts. At the least this is sharp practice of the highest order coming from an organisation that promotes itself as a specialist in giving sympathetic service to the elderly who, unfortunately, are the group most likely to be taken in by this malfeasance.
There should be some legislation to prevent this common practice - it is not the only organisation I have noticed operating a similar policy.