Home insurance due for renewal but Moving house

BrOz

Hi, looking for advice. On what people do about insurance and moving homes. 

My annual home insurance is due to expire in about 2 weeks ish. I've looked at quotes with a view to buy, looked at quotes for the current home and new home (they are the same maybe a difference of £2.) I rang the company to enquire about what I should do when I move, do I tell them and they change the address can I cancel it etc and I've been informed they can't give advice as they won't cover for short term!

I told them the quotes are very similar for new and current home but they said they don't give out short policies and they can't help... I may be moving in about 2 months time but I don't have a set date and I need to arrange my home insurance as its a condition on my mortgage. 

TELLIT01

Why can't you simply take out a policy on your current property and transfer it to the new one.  People move all the time so it must be something insurers are used to.

BrOz

That's what I wondered but the company (policy expert) I rang didn't seem to offer that service and said they couldn't help me.

Im looking at quote me happy now and looks like they allow a change of address but there my be a price change 

Sandtree

Guess you didnt look at https://forums.moneysavingexpert.com/discussion/5843551/trinity-claims-policy-expert

Though in fairness, if you dug on here you’d find a similar thread about almost every insurer and MGA etc. Just happen the two threads were next to each other when I looked.

Most insurers will allow a change of address; the issue with getting two quotes from an intermediary like Policy Expert is that the different quotes may be coming from different insurers on their panel and so when you come to make the change (if you can) the price difference may be much more.

All insurers will price the change at the point that you make it and so you cannot say today what the change will be but you’d have to be very unlucky if the prices moved materially in the window you are talking about. Remember you also need to consider any admin fees that would be applicable for making the change.

MalMonroe

Well, you're going to need insurance and you say you MAY be moving in two months so it's not certain that you will be moving then. I'd phone my chosen insurance provider (assuming you are free to choose your own) and ask them what happens when you move home and would you be able to transfer a policy to your new home. They may charge a fee for that but I guess it may cost a bit extra anyway if you cancel and then restart at your new place.

It's worth another phone call, if nothing else. And you do have to arrange some insurance, whatever happens. 

Thrugelmir

You may need cover for both properties for a period of time. Once contracts are exchanged you'll need buildings insurance at a bare minimum on the new one. 

eddddy

As above, if there will be a gap between exchange of contracts and completion, most solicitors would recommend that you insure both houses during that period.

Insurance is vital from exchange of contracts on the house that you're buying - because even if it burns down before completion, you're still legally committed to buy it (or what's left of it).

Your buyer should insure the house you're selling from exchange of contracts - but solicitors often recommend that you continue to insure it, in case the buyer's insurance is inadequate.

Here's some more info from a law firms website:  https://www.gaddesnoble.co.uk/guide-buildings-insurance-exchange-contracts-completion/