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Halifax overcharging home insurance
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Halifax were charging me an astronomical amount for home insurance and when I queried this with them they explained that they had made the rebuilding cost "unlimited" for "my peace of mind". This gave an annual premium for a large end-terrace of over £1250 not including contents (the buildings insurance element of this was £1200).
I have asked them to explain when this was changed (if it was changed) as I did not (and would not) have agreed or wanted unlimited cover to rebuild an end-terrace property.
The exact same quote but with a reasonable rebuilding cost of £300k resulted in the Halifax quote coming down to just under £400 per annum.
I believe I was mis-sold an element of the insurance (like the op this was also taken in conjunction with a mortgage via Halifax) I can see how it would be in Halifax's interest to have an unlimited coverage for rebuilding costs on a property with an 85% mortgage on it but this wasn't discussed or made clear to me either at the time or at any point since...0
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