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Can I cancel house insurance?

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  • 23-09-2010 11:15pm
    #1
    m4r10
    Registered Users Posts: 678 ✭✭✭


    As the title says, can I cancel my current house insurance to move to another one, more advantageous?

    I just renew it a couple of months ago without shopping around and just now found better deals.


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    #2
    premier10
    Registered Users Posts: 320 ✭✭premier10


    Yes

    But i believe that the couple of months since your last renewal date does not count towards your no claims.e.g if you had 3 yrs & 2 mths no claims, it only counts as 3 yrs

    Be weary though if you already have paid your premium up front re getting refund back.

    Also you need to inform your mortgage provider if applicable


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    #3
    m4r10
    Registered Users Posts: 678 ✭✭✭m4r10


    Thanks for the info. The payment is done monthly by DD, so will be no hassle with any refund.

    Had no idea that the mortgage provider has to be informed as well. Why is that?


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    #4
    premier10
    Registered Users Posts: 320 ✭✭premier10


    Because every mortgage provider stipulates it, to ensure in the event of a fire/acident so that they get paid at the end of the day.


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    #5
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    m4r10 wrote: »
    Thanks for the info. The payment is done monthly by DD, so will be no hassle with any refund.

    Had no idea that the mortgage provider has to be informed as well. Why is that?
    Always cancel your policy with agreement from your insurers. By just stopping a direct debit, the policy will be cancelled by your insurers using the cancellation clause in the policy conditions and this is a material fact that you need to disclose to any future insurer.

    Other than that, there is no reason why they won't cancel it for you, though there may be a small charge


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    #6
    m4r10
    Registered Users Posts: 678 ✭✭✭m4r10


    Thanks guys. I guess Monday I'll have to decide on a more advantageous house insurance than my existing one or even pay a visit to an insurance broker.


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    #7
    greenman09
    Registered Users Posts: 1,909 ✭✭✭greenman09


    Ptsb 6months free til end of oct. Only if ur claim free for the last three yrs and pay by dd


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    #8
    m4r10
    Registered Users Posts: 678 ✭✭✭m4r10


    greenman09 wrote: »
    Ptsb 6months free til end of oct. Only if ur claim free for the last three yrs and pay by dd

    That's what got me thinking at changing insurers.


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    #9
    Kennie1
    Registered Users Posts: 302 ✭✭Kennie1


    premier10 wrote: »
    Yes



    Also you need to inform your mortgage provider if applicable

    I move home insurance company nearly every year and never let mortgage provider know or for that matter they never ask! Only time they asked for proof is when I took out mortgage originally.


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    #10
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    Kennie1 wrote: »
    I move home insurance company nearly every year and never let mortgage provider know or for that matter they never ask! Only time they asked for proof is when I took out mortgage originally.
    You should note the mortgage holder on the current policy you hold. It will be part of your mortgage contract. When you leave an insurance company, they are supposed to tell your mortgage provider that you have done so in order that they get their name on the new policy. However, in practice this procedure often falls by the wayside


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