Home and Contents Insurance

Sunshine_and_Roses

I have had my renewal for home and contents insurance through Halifax, and they have started taking out my monthly payments (my own fault for forgetting when the renewal date was).

My payments have increased from £18.55 per month to £21.80 per month. I am currently checking through moneysupermarket etc and quidco to see what deal I can get.

Is it ok to just cancel a policy, even though it has only just started? I feel that the policy price is too high for a £160,000 semi detached house with average contents.

ps - have put the rebuild at £100,000 and contents at £50,000 - both total guesses.

FlameCloud

You have signed a yearly contract, so you will have to pay a penalty fee for cancelling.

I think the rebuild maybe too low, but it wont matter with Halifax.

Sunshine_and_Roses

FlameCloud wrote: »

You have signed a yearly contract, so you will have to pay a penalty fee for cancelling.

I think the rebuild maybe too low, but it wont matter with Halifax.

I haven't signed any contract with them this year, does it automatically count that I have 'signed' with them if I just carry on with the policy?

shetitasatic

I too have just suffered from 'inertia renewal'. My renewal quote for buildings and contents cover from Budget was way above last years. I managed to find like cover from Liverpool Victoria, saving nearly £100 and was feeling really chuffed.
Then yesterday a new policy arrived from Budget, which they had automatically renewed because i hadn't rung to cancel!!

When I contacted them they charged me £5 for 3 days cover and an 'admin charge' of £20!! This was taken by DD.

So be VERY careful when you change companies, as some will automatically renew unless YOU cancel!!

happyhunter

I had a very competitive quote from Co-op insurance via Quidco.
Give it a try.

FlameCloud

clareski wrote: »

I haven't signed any contract with them this year, does it automatically count that I have 'signed' with them if I just carry on with the policy?

Yes, it would have said something on the schedule you took out when your first started the policy that you agree to renew if you dont say otherwise.

regularsaver1

You can cancel - they dod not charge a penalty. You pay monthly - However,

Remember that Halifax is both unlimited cover for buildings and contents.

Also, regarding the cost - if you telephone them, they might be able to adjust some things for you. My mum did and saved £200 a year (hers was £60 a month)

lambpie_2

50% cashback on contents insurance when you take out both buildings and contents cover with Lloyds TSB Insurance by 31 October 2007. Fair Exchange