Short term home insurance/selling your house

catrionanic

Hi.

So we have our house sale agreed and are moving out in early December. My home insurance policy is up for renewal but the broker said they cannot do a policy that will last three months - you need to pay for 12 months and then are fined quite heavily for ending it early. There also is no way to transfer your policy to a new house.

Does anyone know of a company which will insure a house for just 3 or 4 months? The house will be owner-occupied. Google yielded no results.

My policy has now expired so I'm in a bit of a rush!

Thanks.

3DataModem

catrionanic wrote: »

Hi.

So we have our house sale agreed and are moving out in early December. My home insurance policy is up for renewal but the broker said they cannot do a policy that will last three months - you need to pay for 12 months and then are fined quite heavily for ending it early. There also is no way to transfer your policy to a new house.

Does anyone know of a company which will insure a house for just 3 or 4 months? The house will be owner-occupied. Google yielded no results.

My policy has now expired so I'm in a bit of a rush!

Thanks.

Get the 12 month policy and cancel mid way, no other way to do it effectively.

caviardreams

If you go with the same insurer for the new property they may transfer it across or reduce the cancellation fee?

catrionanic

caviardreams wrote: »

If you go with the same insurer for the new property they may transfer it across or reduce the cancellation fee?

They said they don't do short term insurance and couldn't tell me what the cancellation fee would be....

Husband is saying to just leave the house uninsured for three months but I'm so nervous doing it.

caviardreams

catrionanic wrote: »

They said they don't do short term insurance and couldn't tell me what the cancellation fee would be....

Husband is saying to just leave the house uninsured for three months but I'm so nervous doing it.

Do not do this! If you have a mortgage would they even accept this?

Did you specifically ask about transferring the policy to a new address though, so not short term insurance as such?
Aviva for example seem to offer this option - see What happens if I move house under section 3 (I am sure other companies do too):
http://www.aviva.ie/home-insurance/faq/

CeilingFly

Look for cheapest insurance - liberty are good value at present

Insure for rebuilding cost not house value - 200k max if it's a 3bed or 4bed standard house.

Insure contents for 10% / 20k

There's a fixed cancelation formula and usually if you are insuring a new property at the same time, full credit is given for canceled period.

sbs2010

I got a 6 month policy from JLT, recommended to me by Sherry Fitzgerald.

see jlt.ie or pm me for specific contact details.

catrionanic

Thanks guys, I shall contact Aviva and JLT and see what comes of it!

peteb2

CeilingFly wrote:

There's a fixed cancelation formula and usually if you are insuring a new property at the same time, full credit is given for canceled period.

No it's not. If you move to a new insurer they will apply short term rates if cancelled in first year. It will be outlined in policy wording.
Generally if you renew with same insurer they will calculate pro rata if you cancel with no claims.

Heres Johnny

catrionanic wrote: »

caviardreams wrote: »

If you go with the same insurer for the new property they may transfer it across or reduce the cancellation fee?

They said they don't do short term insurance and couldn't tell me what the cancellation fee would be....

Husband is saying to just leave the house uninsured for three months but I'm so nervous doing it.

As someone whose parents house caught fire 3 weeks ago and was gutted do not even attempt to do this.....quite shocking your husband would suggest this to save a few quid. Madness in my opinion.
Pay your policy by standing order.
Take out an annual policy, say you want to pay monthly then cancel when no longer needed.
I can see why your broker hasn't mentioned this as his payment will be clawed back but you can do this no problem.
Talk of severe financial penalties etc. are just baloney really

Eggs For Dinner

Heres Johnny wrote: »

Take out an annual policy, say you want to pay monthly then cancel when no longer needed.
I can see why your broker hasn't mentioned this as his payment will be clawed back but you can do this no problem.
Talk of severe financial penalties etc. are just baloney really

Do not stop direct debits on any insurance policy without agreement from your insurers. If you do, your insurers can only come off cover by invoking the cancellation clause under the policy. If they do this, you must declare an enforced cancellation to potential insurers and it will cause problems

peteb2

Heres Johnny wrote:

I can see why your broker hasn't mentioned this as his payment will be clawed back but you can do this no problem. Talk of severe financial penalties etc. are just baloney really

Please! The broker is unlikely to be crying into his cornflakes over 80 euro commission.