Can I cancel my home insurance?

[Deleted User]

I pay monthly and I am with M&S (AXA)

Can I just cancel and stop paying?

taffy056

probably not, check your term for cancellations, there are probably clauses in there that you've got to pay a fee.

[Deleted User]

they usually charge fixed amounts depending how far into the policy you are
as a possible example 6 months in 75%

[Deleted User]

We

may cancel the policy by providing

21 days prior written notice, by

registered post, to

your last known

address.

We will work out any premium

refund in line with the above.

Non – payment of premiums

We

can cancel the policy immediately

by sending

you written notice if you

do not pay the premium or miss an

instalment.

afoolandhermoney

assj - the bits you've quoted mean that they can cancel your insurance, there will be another section in terms regarding if and how you can cancel. As another poster has said, there's likely to be a fee for this

Also - I'm assuming that you have other cover. If not, are you sure you want to cancel? Your mortgage provider (if you have a mortgage on the house) will almost certainly require you to have buildings insurance, and even if you don't have a mortgage, what would you do if the house was uninhabitable after a flood or fire and how would you replace items stolen or damaged?

exarmydreamer

Hi, Assj, If you have a mortgage, you must have buildings insurance, otherwise it will invalidate your mortgage agreement. My mortgage provider, HSBC always check when reviewing my account and yearly mortgage agreement paperwork. They actually list it in the paperwork set out, that the house must be insured. I agree completely with afoolandhermoney, you maybe very careful in your house but what if next door caught fire or you were burgled and they damaged the house. It is one policy to check over yearly and keep going, hope this helps.