Contents & Building Insurance Question

6
Posted 19th Sep
If you cancel Buildings & Contents Insurance in the cooling off period (in this case, 14 days) and take out new insurance starting the same day you cancel it, are you still classed as having continuous insurance?

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6 Comments
take out new insurance before you cancel the old one.
adam_holcombe19/09/2019 12:50

take out new insurance before you cancel the old one.


Sounds nice but insurance usually runs form 00:01 on the start date and cancellation is usually instantaneous. I wouldn't like to have to produce evidence to support the statement.

Talk it over with the new insurer that you have only just found their better offer and explain this circumstance. If they jump on you and say No, then you are crossing a known red line. More likely, they will simply say OK.

Tell them. Be honest. One stupid trick you try to pull on one insurance policy could have a horrendous effect on all your insurances for decades to come (remember the question about '...have you ever had special terms or conditions imposed....'
ccnp19/09/2019 14:22

Sounds nice but insurance usually runs form 00:01 on the start date and …Sounds nice but insurance usually runs form 00:01 on the start date and cancellation is usually instantaneous. I wouldn't like to have to produce evidence to support the statement. Talk it over with the new insurer that you have only just found their better offer and explain this circumstance. If they jump on you and say No, then you are crossing a known red line. More likely, they will simply say OK.Tell them. Be honest. One stupid trick you try to pull on one insurance policy could have a horrendous effect on all your insurances for decades to come (remember the question about '...have you ever had special terms or conditions imposed....'


Yes, so as I said, take out new insurance, BEFORE you cancel the old.

Let's say you take out a new policy at 11am, and then cancel your old policy at 1pm - your new policy covers you from before the old one is cancelled.. I.e continuous cover.
note you'll probably be charged an admin fee of £25-£75 for cancelling within the cooling period
chocci19/09/2019 17:20

note you'll probably be charged an admin fee of £25-£75 for cancelling w …note you'll probably be charged an admin fee of £25-£75 for cancelling within the cooling period


thought they weren't allowed to within the 14 day period?

'reasonable costs' and prorata charge of course but usually admin fee is not allowed
adamspencer9521/09/2019 19:58

thought they weren't allowed to within the 14 day period?'reasonable …thought they weren't allowed to within the 14 day period?'reasonable costs' and prorata charge of course but usually admin fee is not allowed


Reasonable costs is the same as an admin fee imo
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