building insurance

martinnat

my mortgage company has been adding building insurance to my mortgage payments for the past couple of years even though i had my own policy. i have never sent them a copy of the insurance i purchased myself so they did not know. i have now spoken to the Mortgage insurance company and have been told i can claim back 100% payments i have made for the last 1 year and 50% each year for the previous 2 years when i provide my schedule.

Can i claim for everything i have ever paid?

dunstonh

Can i claim for everything i have ever paid?

Dual insurance does normally result in a refund of premiums. However, the agreement is usually shared between the two providers. Voiding the current year gives you 100% of the current policy year premiums and 50% covers past years. The other policy provider should do the other 50%.

magpiecottage

The lender was quite entitled to insure the property if you did not provide evidence of cover because it is security for it loan.

However, if you can prove that you actually had cover all along, it is likely to reverse that.