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Home insurance - cancellation fee
factor29
Posts: 206 Forumite
I currently have contents only cover with Tesco, at a cost of £40 for the year. 6 months into the policy, I'm moving in with my OH who already has home insurance.
From what I can tell, the cancellation fee is £35.
I assume this means it would cost me approx £15 to cancel, vs £0 to keep the policy running til its expiry. Is this right or can they only charge the maximum upto the policy cost (therefore £0 to cancel)? If not, is there anything wrong with keeping the cover in place?
From what I can tell, the cancellation fee is £35.
I assume this means it would cost me approx £15 to cancel, vs £0 to keep the policy running til its expiry. Is this right or can they only charge the maximum upto the policy cost (therefore £0 to cancel)? If not, is there anything wrong with keeping the cover in place?
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Comments
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If there's a claim for whatever you might have to split it between the 2 policies and thus pay a deductible on them both. But I would check your policy T&Cs to see if it is just for your contents at your previous address. And then I'd make sure that they know you do NOT want to autorenew.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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