Contents insurance renewal, will there be a gap and can they charge me?

supersaverkerry

Hi

sorry if this is a really stupid question!

I have contents insurance at the moment due to end 8th June.

Just got renewal letter and it is going up by £45 to £125

Did a comparison online and with another company I can get it for £64.

So if I take a policy with the cheaper quote and start it on 8th June will I technically be uncovered for 1 month? As I think you can['t claim during the first month of insurance?

Would I be better to start the new policy from now?

Also my current provider have said if I cancel my policy with them instead of renewing they will charge me a £24 fee, surely they can't so this as it was a 1 year policy and I don't want to renew, how can they charge me cancellation for not renewing?

lisyloo

As I think you can
Where did this info come from?

Would I be better to start the new policy from now?

There can be problems being doubly insured.
It could lead to lengthy delays as the two insurers argue over who pays for what (they should pay 50/50 but there might be differences in cover).

Also my current provider have said if I cancel my policy with them instead of renewing they will charge me a £24 fee, surely they can't so this as it was a 1 year policy and I don't want to renew, how can they charge me cancellation for not renewing?

Be careful with your terminology.
If you want to lapse your policy i.e. just let it stop and not renew, there is no charge.
This is different to cancelling which means stopping it early.
They are not being particularly helpful towards you but you should use the word lapse if that's what you mean.
If you lapse over the phone then take a reference or name and note the time and date.
This means that if they claim to have "lost" your lapse instruction then you will be able to help them find the audio recording.
I always take details and I've never suffered from anyone losing my instructions (possibly because they know I have their name).

supersaverkerry

Thanks for the reply.

Regarding not being able to claim in the first month, that is that I was told when I took out my policy last year I would be unable to make any insurance claim for the first 30 days after taking out the policy.

I pay via direct debit, so they have sent me a letter stating that my policy will automatically renew, when i called them to question the price increase they said I can leave if I want instead of renewing but there is a £24 fee for doing so.

I think I will try again and I make it clear I am not cancelling but that the policy can run till the day it expires after which it will lapse and also I will be cancelling my direct debit.

teddysmum

Ask for confirmation in writing. We did that when saying we didn't want to auto-renew a car policy; just in case they still took the money. (they didn't)

rs65

supersaverkerry wrote: »

As I think you can['t claim during the first month of insurance?

Its possible that things like Home Emergency (if included) won't apply in the first 14 days or so but normal contents cover should apply from day 1.