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Admin. fee - when moving house insurance cover?
moneyistooshorttomention
Posts: 17,940 Forumite
I've just had my yearly insurance renewal letter through for my house and contents insurance on present house.
Now wandering if I was a little unwary there - as I rang to query that the amount had increased by about £25 more than inflation and duly got told the insurance premium would be amended to be fairer (down to me having been with them for years and never made a claim basically).
I then queried the procedure re my forthcoming sale of current house and purchase of another house elsewhere and was told there would be a £25 "admin. fee" for changing over my house insurance from this house to the next. Hence wondering if I have been a bit unwary there and they have tried to take back with one hand what they have just given me with the other iyswim.
Is it normal for insurance companies to charge "admin. fees" when moving to another house?
Now wandering if I was a little unwary there - as I rang to query that the amount had increased by about £25 more than inflation and duly got told the insurance premium would be amended to be fairer (down to me having been with them for years and never made a claim basically).
I then queried the procedure re my forthcoming sale of current house and purchase of another house elsewhere and was told there would be a £25 "admin. fee" for changing over my house insurance from this house to the next. Hence wondering if I have been a bit unwary there and they have tried to take back with one hand what they have just given me with the other iyswim.
Is it normal for insurance companies to charge "admin. fees" when moving to another house?
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Comments
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More and more are doing so. You could always re-negotiate when the time comes, or see if you can get a new policy elsewhere and cancel this one.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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Is it normal for insurance companies to charge "admin. fees" when moving to another house?
Explicit charging for admin tasks is becoming the norm. Lower premiums are forcing providers to remove what they can to move further up the quote comparison site.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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