Selling in 3 Months, House Insurance Renews for Year... Help

finkyfoo

Hello all, we are hoping to complete our house sale in 2-3 months and will be moving in with my mum while we wait to buy something at auction, so could be there a few months.

I've just been sent the renewal from Churchill for house insurance which is for a year, and I see if we cancel within the policy we will get charged a £43.68 fee. Currently still in the cooling off period so can completely cancel if there is another option.

Can anyone recommend a monthly buildings and contents house insurance company? I have looked around and getting myself in a bit of a pickle! Or can I go with a normal insurance company and pay monthly then just stop paying when we move, or is that just going to cause a world of trouble?

flashg67

Couldn't you just renew, then ring Churchill when you move to tell them your new address? There may be an admin charge, and the premium may be higher (or possibly cheaper?) but one less thing to worry about with the stress of moving.
Paying monthly doesn't get you out of paying the full premium, or an admin fee if you cancel - it's just a way of spreading the premiums - effectively a loan.

finkyfoo

Thanks @flashg67 I didn't even think about just letting it carry on then shift it over when we do find somewhere else. Makes a lot more sense. I'll get in touch with them and see how much admin fee they will charge to move the policy over to a new place

NameUnavailable

finkyfoo said:

Hello all, we are hoping to complete our house sale in 2-3 months and will be moving in with my mum while we wait to buy something at auction, so could be there a few months.

I've just been sent the renewal from Churchill for house insurance which is for a year, and I see if we cancel within the policy we will get charged a £43.68 fee. Currently still in the cooling off period so can completely cancel if there is another option.

Can anyone recommend a monthly buildings and contents house insurance company? I have looked around and getting myself in a bit of a pickle! Or can I go with a normal insurance company and pay monthly then just stop paying when we move, or is that just going to cause a world of trouble?

Cooling off periods allow you time to review the cover/terms - if you cancel you will still be charged for the time on risk and probably the admin fee.

If you take an annual policy but opt to pay monthly you cannot just cancel at whim. It will be no different to cancelling the current policy (unless you find a policy that specifically states you are covered on a rolling monthly basis).

Slinky

Monthly premiums are usually higher than an annual one as well.

user1977

Cheapest/easiest option is probably just to renew annually and then cancel, especially if you have no certainty about if or when completion will actually happen.

finkyfoo

Thanks everyone. I'm really glad I asked as for the next few years we will be renovating auction properties, so now I know the best way to deal with insurance while we are jumping around.