Payment Shield - Home & Contents Insurance

giggsy07

Hi all,

I currently have a Home & Contents policy with Payment Shield which is underwritten by Royal Sun Alliance.

The only additional item is my wife's engagement ring.

I've only had one claim which was last year for some contents (approx £800) inside the boot of my vehicle which was stolen fro outside my house. The car was a company car and contents was not covered on the company policy.

Current monthly payment is near £60, however I have run a quote for a similar policy with Nationwide and they are coming out around £20/month.

I annoyingly and stupidly missed the auto-renew deadline so currently in policy with Payment Shield.

Is it possible to cancel mid-policy to move to another policy provider?

Many thanks in advance.

Blibble

Yes, however you should factor in any cancellation & admin fees for PaymentShield which can be found within your policy. Additionally, as you are paying monthly, you may be liable for some of the interest as what you have is effectively a loan from PaymentShield.

Once you total these figures up, then see if it's worth switching.