Home Insurance Cancellation

puppychick79

Hi,

Im a newby and this probably has been posted before but, we are moving house and Im currently with Aviva Ive called them to see how much will cost for them to insure new property and they are one of the highest quotes Ive got. Ive been with them 4 years and never made a claim. Ive asked them about cancelling and they said they will have to make a cancellation charge, technically am i still in contract with them as ive just let it carry on every year?? and my policy only renewed in June.

Thanks for your help

Quentin

Yes you are in a contract. They are acting correctly, so factor in their cancellation fees (and how much of a premium refund you will actually receive) to see if moving insurers will be cost effective.

rrf494g

It all depends on the small print that you've agreed to but . . .

Most policies of this type will allow a cancellation and a refund uf "unused" months of cover. This will be subject to a cancellation charge for the admin costs of setup (I don't agree with this - just recognising it). So you should get most of this years premium back. Now you can go get your best deal on insurance for the new place. Perhaps use a web based comparison site (go compare, confused.com etc). It is possible that once your existing insurer realises you know what you are doing, they will propose a realistic deal. Maybe. Good Luck.
regards

*Scarlett

Once you have a few online quotes for your new property it might be worthwhile ringing the insurers that you are considering - some insurers offer to pay the cancellation fee up to a set amount. You would usually pay it to your current insurer yourself and claim it back from the new company so keep any proof of payment if they are offering this.

If you are ringing the new company, I would take the opportunity to ask them if they have any additional discount they can give you to off-set cancellation charges. If you don't ask, you don't get!

Hope this helps.