Changes affecting customers who pay by Direct Debit
We’re pleased to let you know that we’re launching some changes for customers who pay by Direct Debit; these changes have been in the making over recent months. Here are the details:
1. We’re removing the charge for credit for all customers paying for their Home or Landlords insurance by Direct Debit, so the total cost will be the same for customers who pay monthly and annually. The change has come into effect for any new Home Insurance Plus or Home Insurance quotes using our SmartQuote for Intermediaries system from today (3 December).
Please note any existing quotes via SmartQuote which have not yet been put on risk will still have the charge for credit applied.
The changes will come into effect for our other Home Insurance products (Home Insurance Choices and Simply Home Insurance) and Landlords Insurance on GI Connect and GIology within two weeks.
The charge for credit will also be removed for renewing customers shortly.
2. If you've been using our SmartQuote system since its launch earlier this year, you’ll know that if your customer pays by Direct Debit, we collect an initial payment of two months premiums, followed by 10 further payments. We’ve taken feedback on board and have changed this, so that the first payment is one months premium, followed by 11 further payments.
If you have any queries about the changes, please don’t hesitate to contact your Legal & General Account Manager.
Thanks for your continued support.
Head of Intermediary