Landlord's insurance then moving back in to the property

lisyloo

If your policy requires you to inform insurers of any change in circumstances and you do not, you may cause yourself a big issue if you needed to claim.

But if you definitely don't want to claim then is there any harm?


I know with car insurance you would not want to do this because someone could steal the car and your insurance be found liable.


If the OP takes out a new owner occupier policy then is there any theorectical chance of a claim on the landlord policy?


If not then there's no harm of keeping it.

thrifty_pete

I was hoping an insurance industry insider would give me an idea of whether I could carry on with the policy, in this specific circumstance. I will inform my insurer and if necessary cancel the policy and pay the £50.
I have never had any expectation of a refund from any insurance ever, whether motor, travel or home - I've bought cover for a year, if I want to leave earlier then that's my problem.
My issue is with the £50 fee to cancel a policy, which feels a restriction on consumer choice. I can't think of any other example where a consumer enters into a contract where there is a penalty fee above and beyond the agreed contract price. If I don't like my broadband supplier, I pay off the minimum term fees and walk away.
Perhaps landlord insurance is simply business insurance, and ideas of consumer fairness are irrelevant. However I have seen these high cancellation fees in consumer insurance too.

Zorillo

There are no industry insiders, each company is completely different. Many 'commercial' Property Owners policies do not charge any cancellation fees. Your issue may be that you've taken out a consumer product, or you've chosen a broker that charges cancellation fees.

Either way, you could just put the policy documents in the bin and let it expire naturally.