Two Building Insurances.

mojos.revenge

My daughter has a building insurance with her lender, plus as she lives on a private estate which is covered by a company called "Places for People", who insist that they pay building insurance to them as well.
Clearly she couldn't claim from both companies, but neither will allow an opt out.
Any idea what the solution could be.

FlameCloud

Cancel the insurance with her mortgage provider?

mojos.revenge

FlameCloud wrote: »

Cancel the insurance with her mortgage provider?

HSBC won't allow her to unless she can produce a policy from the other company, they have never provided her with one, it's just listed as part of the Service Charge. Which was originally £17pm but is now rising to £90 pm in less that 8 years.

trailingspouse

She should be able to ask for a copy of the policy schedule - or even just a policy number and name/address of insurer - from 'Places for People' so that she can prove to the mortgage company that she is adequately insured. She certainly doesn't have to be insured with the mortgage provider, but she does have to have adequate insurance in order to fulfill the terms of her mortgage.