Do I NEED to cancel my home insurance on the property I'm selling or can I let it expire?

Mr_P_

Hi all,

I'm selling my house and moving in next week, I have around 1 month left on my home insurance but want to let it expire and buy a new policy elsewhere because:
- they want to charge me £25 to change address
- my premium will increase significantly under the current insurer due to the increased value of my new house
- My insurer is one of those cheap ones who have bad call centres
 
The question is, is there anything legally which would prevent me from having 2 active policies on 2 different properties? I only pay £9 p/m currently which is a lot less than £25 to change.

I want to cancel my auto-renewal, let that policy expire in a month but also take out a new policy with another insurer from next Monday.

dunstonh

The question is, is there anything legally which would prevent me from having 2 active policies on 2 different properties? 

no

Old_Lifer

Once you have completed the sale of your old property you no longer own it,  so you no longer have an insurable interest in that property  and would be unable to make a claim.

You have an insurable interest in the new property from the date of exchange of contracts ,  so should by now have arranged insurance on that property.

With only  one month remaining on the old policy,  your idea of letting it expire  rather than paying the change of address fee  makes sense.

Sandtree

A "real" NCD type concept is rare in Home insurance and so the chances are you are going to be fine but just double check the types of questions being asked by your new insurers as the small number that do use a similar concept to car insurers will expect the current policy to have ended before you can use the NCD on the new one... most will just ask how many years you've been claim free and that's fine to duplicate cover on.