Double/Dual Insurance

JELLYBELLY

Hello Everyone

I am at the end of my tether trying to look into this!

When I reviewed my mortgage the advisor recommended I take the home insurance.

I have now been paying for this home insurance for 6 years with Lloyds but it was already attached to my mortgage(also lloyds). The advisor and I both did not notice this.

I have contacted them and they said they will contact the other insurance provider (I believe they bought over someone?) but they have said they will refund 50% of the premium but only for 3 years? This is about £1800. :eek:

I have looked all over the internet to find the consumer rights for dual insurance but have had no luck! Please help I just need pointed in the right direction so I have the knowledge to challenge this.

l0u1se

Make a formal complaint

Faith177

You have to then apply to the other insurer for the other 50% this is standard practice on home insurance as if there was an claims they would split the cost between them.

FlameCloud

JELLYBELLY wrote: »

Hello Everyone

I am at the end of my tether trying to look into this!

When I reviewed my mortgage the advisor recommended I take the home insurance.

I have now been paying for this home insurance for 6 years with Lloyds but it was already attached to my mortgage(also lloyds). The advisor and I both did not notice this.

I have contacted them and they said they will contact the other insurance provider (I believe they bought over someone?) but they have said they will refund 50% of the premium but only for 3 years? This is about £1800. :eek:

I have looked all over the internet to find the consumer rights for dual insurance but have had no luck! Please help I just need pointed in the right direction so I have the knowledge to challenge this.

Dual insurance is not unlawful and it occurs more often than people think. The 50% is a standard offer.

hugoshavez

JELLYBELLY wrote: »

I have contacted them and they said they will contact the other insurance provider (I believe they bought over someone?) but they have said they will refund 50% of the premium but only for 3 years? This is about £1800. :eek:

You've been paying £1,200 a year for buildings insurance? On top of another policy?

rs65

JELLYBELLY wrote: »

I have looked all over the internet to find the consumer rights for dual insurance but have had no luck! Please help I just need pointed in the right direction so I have the knowledge to challenge this.

There are no consumer right as such.

If a claim had occurred, each insurer would have shared the claim. This means that they have both received 100% premium but would never have paid 100% of a claim. You should be happy to get 50% back from each.

JELLYBELLY

Thanks for the comments
Yes the 50% I am happy with.

But they are with the same provider it seems. Its just the time limit at 3 years that doesn't seem fair to me when I've been paying it for 6 years?