Welcome to Netrider ... Connecting Riders!

Interested in talking motorbikes with a terrific community of riders?
Signup (it's quick and free) to join the discussions and access the full suite of tools and information that Netrider has to offer.

QBE Insurance warning

Discussion in 'Businesses and Service Providers' started by Pjcliffo, Jan 22, 2015.

  1. Just found out I have been insured with 2 companies for the last month!
    I changed to insure my ride $150 cheaper. Qbe automatically renewed my existing policy because I was making auto monthly payments.
    Be careful if u pay quarterly or monthly they may auto renew.
    Now jumping hoops to get my monthly payment back!

  2. Shouldn't be hard if you have the correspondence asking then to not renew. If you didn't ask them to not renew then you might struggle. It's reasonable for them to continue your policy unless you tell them otherwise.
  3. This is why I auto-debit almost nothing.....
  4. Mcsenna it is not reasonable for them to continue. If I sign for 12 months insurance, it should stop at the end of 12 months. You can't sign someone up for 12 months more unless they agree. No contact is not consent to continue. They should need permission to continue.
  5. Look it depends on their T&C fine print doesn't it. So better check that first up. Good luck....
    • Agree Agree x 1
  6. On the other hand, you get people who scream black and blue because the opposite happens.
    • Agree Agree x 3
  7. You wouldn't be saying that if you had a prang on the 13th month while you were looking for cheaper options. Now you know to cancel your direct debits, your money, your responsibility. Also check your contract did it say 12 months ? Chances are if you are paying monthly then it is a monthly policy which will continue as long as you keep paying it, which you were.
    I'm not saying don't have a go at getting it back, I'm saying there is no surprise in them continuing your policy until you tell them otherwise.
  8. Had a simular issue with house insurance. All our house, contents, mortgages were with the one bank so you'd think the left hand would tell the right what was going on.

    We had a house with building/contents insurance in Canberra, and a rental property that had building and landlord insurance in Tassie. When we moved to Tassie, we sold the Canberra house and used the money to pay off the Tassie house. We also directed that the bank cancell the Canberra insurances, and change the insurance on the Tassie property from landlord to standard home/contents.

    Move forward 12 months and I get this renewal notice for Canberra, wtf ?? Seems what they actually did was cancelled the Tassie insurances altogether (i.e we had no coverage on anything), and I was paying home/contents insurance on a property I didn't even own. Heaven knows what would have happened if there was a need to claim.

    Anyway, all got sorted in the end, got back all the insurance money paid on the Canberra property as well as a pretty good discount for the next 12 months on the Tassie house. You'd think that as the bank was the mortgage lender on both properties they would know what was happening, lesson learnt, never assume.
  9. QBE will back down instantly and issue a refund cheque. As far as I'm aware it is illegal to have two policies on one item.
    I struck a similar problem with Shannons, sold a bike, notified them but they kept taking payments for 3 months. One phone call and I got a refund cheque.
  10. Of course you did, you notified them and therefore it was their error. It has nothing to do with their liability for you having two policies and is irrelevant to the OP.'s situation.
  11. Not illegal, but pointless. You can only claim once for any given loss. Once it's been 'made good' by one insurer, there's no loss for the other insurer to cover.
  12. I worked in insurance in the UK so maybe you should ignore everything that follows :p but I'm guessing the principle would be similar, in UK as long as you could provide proof of the other insurance policy we would cancel the dd and refund any payments taken.
  13. Just further to that - most of the time the teeny weeny small print says that your policy will be automatically renewed unless you advise otherwise, because the insurance company wants to be sure you're not left high and dry without any insurance. Very thoughtful of them, really ;-)
    • Funny Funny x 1
  14. Yes they are very thoughtful when it comes to collecting money
    • Funny Funny x 1
  15. Collecting money yes, but wait till you have to make a claim!
  16. Every policy paid monthly is like that as far as I know, you will get a renewal (so long as they are still happy to offer you insurance) close to the end of the 12 months with the new details (change in premium, item value etc) and it advises that it will continue with the new or same monthly payment of $X
  17. When one buys a policy for their bike, is it better to pay premium monthly or as a one off yearly payment? What's the advantage of paying monthly?
  18. It isn't any cheaper (I checked it out) but it may be more convenient. I pay annually.
    • Agree Agree x 1
  19. The only advantage of monthly payments is if you have limited cash flow and a single annual payment would be difficult to make.
  20. I pay various insurances by monthly debit.

    Every 12 months I get a letter from each of them telling me that my policy is due for renewal, what the new cost is and if I do nothing they will continue to take my money at the new rate.

    Now, I'm pretty sure that's standard procedure for such things. It is YOUR responsibility to tell them not to renew when paying monthly.