Halifax home insurance - no refund when cancelling??

Pipx

Thanks for all your replies. The £9 a month quote is based on £500,000 rebuild cost and £50,000 contents cover, both way in excess of what my partner requires. Halifax (I think) is unlimited rebuild cost. We are happy with a basic policy, but obviously I would check the detail before I take out a new policy. My question was really about the fairness of Halifax's no refund policy (unless your circumstances meet one of the criteria outlined in my original post). I think we'll just take this year's premium on the chin, and change at renewal. The no refund policy is clearly stated in their policy booklet, my partner is not one for reading the small print, so it is a lesson learnt for him I guess!

mikey72

Pipx wrote: »

Thanks for all your replies. The £9 a month quote is based on £500,000 rebuild cost and £50,000 contents cover, both way in excess of what my partner requires. Halifax (I think) is unlimited rebuild cost. We are happy with a basic policy, but obviously I would check the detail before I take out a new policy. My question was really about the fairness of Halifax's no refund policy (unless your circumstances meet one of the criteria outlined in my original post). I think we'll just take this year's premium on the chin, and change at renewal. The no refund policy is clearly stated in their policy booklet, my partner is not one for reading the small print, so it is a lesson learnt for him I guess!

They can state what they wish to.
However, they can only charge what they are allowed to, and to ensure they do, we have the FOS.
"No refunds" isn't enforcable, the FOS rule for pro rata refunds on annual contracts.
It's a lot of money to give up.