Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Home insurance refund if sold?

Options
  • 01-03-2019 11:09pm
    #1
    mcbert
    Registered Users Posts: 460 ✭✭


    Hey, I assume the answer is no, but just want to confirm, if I paid my house insurance for the year, then sold it with 4-5 months remaining, is there any chance of getting any refund?


    Thanks!


Comments

  • Options
    #2
    laotg
    Registered Users Posts: 130 ✭✭laotg


    Have you asked the insurance company?


  • Options
    #3
    mcbert
    Registered Users Posts: 460 ✭✭mcbert


    laotg wrote: »
    Have you asked the insurance company?


    Nope, I'll ring next week, just thought of it 5min ago.


  • Options
    #4
    elperello
    Registered Users Posts: 14,980 ✭✭✭✭elperello


    Depends on the company.
    Most will refund, some charge an admin fee.
    If you are taking out a new policy on a different property they will be keen to quote.


  • Options
    #5
    [Deleted User]
    Posts: 14,344 ✭✭✭✭ [Deleted User]


    You will of course get a refund. You no longer have an insurable interest in the property, and the insurer has quoted you for 12 months (presumably) of cover. However, most insurers have an administration fee that will effectively (and conveniently) swallow up much of what you're due back.

    Theoretically, it'd be nice if a house was insured, that you could keep the insurance on the house and transfer it to the new owner (like tax on a car).


  • Options
    #6
    Askthe EA
    Registered Users Posts: 724 ✭✭✭Askthe EA


    Whatever you do, don't cancel it before the sale closes, these things can drag on!


  • Advertisement
  • Options
    #7
    mcbert
    Registered Users Posts: 460 ✭✭mcbert


    Just to update, it is worth making that call. With 3 full months remaining, I've €119 due back to me by cheque...


  • Options
    #8
    Odyssey 2005
    Registered Users Posts: 21,065 ✭✭✭✭Odyssey 2005


    mcbert wrote: »
    Just to update, it is worth making that call. With 3 full months remaining, I've €119 due back to me by cheque...

    Well worth a call..Well done.


  • Options
    #9
    rightmove
    Registered Users Posts: 995 ✭✭✭rightmove


    House up for sale. Landlord insurance due. Was just going to renew under existing insurance but it's direct debit has 15% deposit and 9 payments so even if I cancel it's still tasty. If I pay in full presume like op I get a rebate when policy is no needed. Also should I change policy to normal home insurance from LL


  • Options
    #10
    tuisginideach
    Registered Users Posts: 2,066 ✭✭✭tuisginideach


    We got refund.

    Beware - if house is empty, you need to inform insurers or ensure someone is sleeping there intermittently.


  • Options
    #11
    rightmove
    Registered Users Posts: 995 ✭✭✭rightmove


    Yep I stay there on and off. But should I stick to the ll insurance or would it be better to get holiday or normal home insurance. May just ring and ask them?


  • Advertisement
  • Options
    #12
    4ensic15
    Banned (with Prison Access) Posts: 4,691 ✭✭✭4ensic15


    rightmove wrote: »
    Yep I stay there on and off. But should I stick to the ll insurance or would it be better to get holiday or normal home insurance. May just ring and ask them?

    You should talk to your insurance broker. that is what they are for.


  • Options
    #13
    rightmove
    Registered Users Posts: 995 ✭✭✭rightmove


    Did , they only cover for fire when it generally unoccupied. Premium remained the same ......😀🙄

    Refund will happen if paid in full and without penalty when sold


Advertisement