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  • FIRST POST
    • dark knight
    • By dark knight 10th Oct 16, 5:22 PM
    • 79Posts
    • 8Thanks
    dark knight
    Short term home ins?
    • #1
    • 10th Oct 16, 5:22 PM
    Short term home ins? 10th Oct 16 at 5:22 PM
    Our house is sale agreed but won't complete for around 8-10 weeks. Our house insurance is up next week. What are my options.? Don't want to renew for another full year. Seems in most cases the cancellation fees will cost more than the cover, are there any viable solutions?
Page 1
    • paddyandstumpy
    • By paddyandstumpy 10th Oct 16, 5:53 PM
    • 335 Posts
    • 93 Thanks
    paddyandstumpy
    • #2
    • 10th Oct 16, 5:53 PM
    • #2
    • 10th Oct 16, 5:53 PM
    When you move out and sell the property, don't you have another property to move into which will need insuring?
    • dark knight
    • By dark knight 11th Oct 16, 1:18 PM
    • 79 Posts
    • 8 Thanks
    dark knight
    • #3
    • 11th Oct 16, 1:18 PM
    • #3
    • 11th Oct 16, 1:18 PM
    Nope, moving in with the inlaws
    • paddyandstumpy
    • By paddyandstumpy 11th Oct 16, 1:22 PM
    • 335 Posts
    • 93 Thanks
    paddyandstumpy
    • #4
    • 11th Oct 16, 1:22 PM
    • #4
    • 11th Oct 16, 1:22 PM
    OK. You're best bet is to renew the policy and then cancel when you no longer have an insurable interest in the home (i.e. when you sell it).
    The cheaper the policy, the greater the fees to amend/cancel tend to be.

    Also, avoid Brokers, as they will charge their own fees on top of the Insurer fees, and may also then clawback any loss of commission from the premium too. Finally, try to avoid paying by installments, for the same reason.
    • dark knight
    • By dark knight 12th Oct 16, 12:12 PM
    • 79 Posts
    • 8 Thanks
    dark knight
    • #5
    • 12th Oct 16, 12:12 PM
    • #5
    • 12th Oct 16, 12:12 PM
    Dang, was hoping for some sort of 'pay as you go' type solution.
    • paddyandstumpy
    • By paddyandstumpy 12th Oct 16, 12:15 PM
    • 335 Posts
    • 93 Thanks
    paddyandstumpy
    • #6
    • 12th Oct 16, 12:15 PM
    • #6
    • 12th Oct 16, 12:15 PM
    Are you looking for a policy you call up and pay for daily/weekly/monthly?

    Short term policies are usually more expensive, but some IFA's do offer monthly policies. 3XD are one from memory, Policy Expert used to but I don't know if they do any more.

    If you can afford an annual amount that's the cheapest solution.
    • Quentin
    • By Quentin 12th Oct 16, 12:35 PM
    • 30,266 Posts
    • 14,362 Thanks
    Quentin
    • #7
    • 12th Oct 16, 12:35 PM
    • #7
    • 12th Oct 16, 12:35 PM
    Dang, was hoping for some sort of 'pay as you go' type solution.
    Originally posted by dark knight
    Not a recommendation but co-op do allow you to pay monthly for an annual policy.

    There is no "cancellation fee" as such for ending the policy early.

    They do charge short term rates when you cancel early ( eg cancellation after 2 months means you would get charged 20% of the annual premium)
    • dark knight
    • By dark knight 19th Oct 16, 4:50 PM
    • 79 Posts
    • 8 Thanks
    dark knight
    • #8
    • 19th Oct 16, 4:50 PM
    • #8
    • 19th Oct 16, 4:50 PM
    Co-op charged a cancellation fee whenever i contacted them, but TSB was fee free.
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