So, as you might imagine, I never set anything up on auto-renewal. My home insurer punished my loyalty with a £700 penalty No opportunity to negotiate To add insult to injury, in many cases, premiums are often hiked up substantially over future years. Unfortunately, this means we miss out on the chance to shop around or haggle to bring down the price. How early can firms take your money with auto-renewal? Writer Sue Hayward got an unpleasant surprise when her anti-virus software subscription was renewed earlier than expected.Īs a consumer journalist, I’m always banging on about why you should never set anything up for auto-renewal, including insurance, subscriptions and memberships.įor me, it’s seen as a sneaky way for a firm to dip into your bank account year after year, as chances are, we forget to cancel.
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