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Cancel home insurance
bluemooner64
Posts: 5 Forumite
Hi all
I took out insurance on my flat in September last year, but moved out in June.
I paid in full in September and got a discount for doing so.
Today I phoned the insurance company to cancel it and to make sure they would not renew it from my debit card and they told me I owed them £40 to cancel!...so I didn't cancel!
My old place therefore is still covered for the next 3 months but do not know who will be living there as it is rented.
Might be a daft question but should I now wait till the end of September to cancel ??
I took out insurance on my flat in September last year, but moved out in June.
I paid in full in September and got a discount for doing so.
Today I phoned the insurance company to cancel it and to make sure they would not renew it from my debit card and they told me I owed them £40 to cancel!...so I didn't cancel!
My old place therefore is still covered for the next 3 months but do not know who will be living there as it is rented.
Might be a daft question but should I now wait till the end of September to cancel ??
0
Comments
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Yes you will need to give them notice again before renewal, preferably in writing.0
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Might be a daft question but should I now wait till the end of September to cancel ??
It is not uncommon for it to be cheaper not to cancel. Make sure that you inform them about 3 weeks before renewal that you will not be renewing the policy (do not mention cancel. that means something different). Do it in writing and keep a copy of the letter. Or if you do it by phone, log the number, date, time and who you spoke to saying you did not wish to renew it.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 -
If you had cover as an owner occupier and now no longer occupy the property you should inform the insurer that the property is unoccupied and your future intentions.
Check your initial purchase documentation to ensure you were informed of cancellation and administration charges.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
the insurance company will notify me when it is ready to renew, I'm tempted to do nothing till then and I will then say I am not renewing. If I do not renew surely they cannot charge me right? Or is there something I am missing!
Thanks for your help0 -
bluemooner64 wrote: »the insurance company will notify me when it is ready to renew, I'm tempted to do nothing till then and I will then say I am not renewing. If I do not renew surely they cannot charge me right? Or is there something I am missing!
Thanks for your help
Unless they have your current address, you wont get it. If they have your current address then are they insuring that?
If you tell them you are not renewing then they will not renew.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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