House insurance

flora1

Hi, I've just done some searches for home insurance, I'm with Halifax at the moment, but in the search Halifax has come up a lot cheaper than the renewal quote they sent me.

Can I cancel the current policy (the renewal) and buy the cheaper one online?

Thanks in advance

McKneff

Have you already taken out the insurance with the price on the renewal note, if so was it in the last 14 days.
If so ring them to cancel or negotiate nearer to the online price.

If you cancel it, there will be a penalty charge, how much is anybody's guess, it will be in their T& C's or ask them on the phone.

Its something i can never understand, if you had already set up your insurance, why do you keep looking for a cheaper price. The time to do it is beforehand surely

flora1

I think I didn't explain properly, I'm due for renewal in 2 weeks time, had the renewal letter from halifax, but when doing the online comparison, halifax also came up as one of the insurers that provided a quote, it's just that's it's £150 cheaper than the renewal quote they sent me through the post as my insurer for the last year.

McKneff

Right, thats better, so you just need to ring or write to them to tell them you will not be taking up their renewal offer. Make sure they
send you confirmation of the cancellation.

But, make sure that its a like for like, You can explain to them on the phone why you are declining and they will go through it with
you just in case you have missed something. (very easily done, I've been in the same situation.

If you have thereference no. from the online quote they can deal with that and set it up for you at the same time so saving yu going back to the internet.

Regards and good luck.

lisyloo

Yep, I'd re-iterate two very important points already mentioned.

Get some proff you aren't renewing.
A letter from them is excellent.
Also worth getting the name of the person and date & time of the call.
Dates & times make it possible to listen to recordings if there is a dispute.
Getting someone's name in my experience means they are less lilkely to forget to carry out the task as they know you have their name.

Also like-for-like is important.
There are many options on home insurance - buildings value, contents values, accident buildings, accidental contents, personal possession, legal, bicycles, valuables limit, single item limit etc.
It's very easy to have some differences in cover so make sure you are comparing the same and have the cover you need.
(Also likely there is a discount online for new policies, but you just need to be careful with the comparison).

flora1

thanks McKneff and lisyloo, just needed to confirm if it was ok to cancel and come back with the online policy, I couldn't believe that it is £150 cheaper online, as all my details are the same as last year and it's the same insurer, halifax

McKneff

Youre not actually 'cancelling' you're just not renewing, big difference.

Have you had a look at the CIS site (Cooperative Ins. Society)

I am insured up to the hilt, NCD, accidental damage, items away from the home etc for £201.00 for a 3 bedroom semi.

vic_sf49

I've done that in the past OP without any problems. In fact, the first thing I do when I get a renewal is to see what a 'new policy' would cost me. It annoys me that if they can quote you that much cheaper, that they don't do it automatically when you are due to renew.

I know, I know, they rely on people not shopping around who pay the inflated price regardless, but yeah, it still winds me up.

codheadling

nice one McKneff, just got my renewal quote from natwest £515,so i tried CIS and got like for like £198,it took less than 10 minutes to take out the new policy and cancel natwest,over £300 saved,
thanks pal.