Buildings Insurance

dunstonh

https://forums.moneysavingexpert.com/discussion/comment/81856033#Comment_81856033

You need to be clear on what happened, as it could be a reportable event to a new insurer.

If the policy didn't renew. i.e. it ended at the year end, it lapsed and did not renew. It was not cancelled.

If the policy was renewed and payment was attempted but failed, and the insurer cancelled it due to failed payment, then this needs to be reported to a new insurer as a cancellation by the insurer for non-payment. This, unfortunately, is likely to hurt your premiums if you use a comparison site. You may find using a local broker results in a better outcome.

What it sounds like is that the policy renewed and the payment failed and the insurer cancelled the policy for that reason but you really need to be sure. It may be worth going back to the insurer and ask if they will reinstate as you made a mistake on the direct debit and became confused. If they do reinstate, then the cancellation won't need to be reported. Note: reinstatement is not the same as buying a new policy with the same insurer. Reinstatement is continuing the exisitng one and making back payments.