# Home insurance lapsed is tracker in danger



## potnoodler (16 Aug 2012)

when switching homes insurance companies my house was technically uninsured for 24hours am I being too paranoid ,
or is the bank legally entitled to void my contract and switch me to a variable rate or call in the loan.
Id be concerned that banks would have a hawks eye for any way to nullify the loans that are costing them money


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## Bronte (16 Aug 2012)

There's not even going to notice this.  In any case they cannot change your contract for this reason.


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## potnoodler (16 Aug 2012)

havent looked back at the T&C but isnt in there somewhere about it being part of the contract, life assurance and house insurance, and think they easily could notice as the previous  insurer is obliged to advise the interested party (the bank ) of the lapse in cover


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## serotoninsid (16 Aug 2012)

potnoodler said:


> havent looked back at the T&C but isnt in there somewhere about it being part of the contract, life assurance and house insurance, and think they easily could notice as the previous  insurer is obliged to advise the interested party (the bank ) of the lapse in cover


I don't think a 24 hour lack of cover is going to be an issue.  However - if you were concerned about this - why didn't you have them put the appropriate start date on the policy?


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## potnoodler (16 Aug 2012)

trust me I tried, but they quoted some regulation rules about being unable to backdate insurance , may be waffle or true or just procedure, but they were not for moving


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## Marion (16 Aug 2012)

Have you sent the mortgage company a copy of the new policy?

Marion


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## potnoodler (16 Aug 2012)

no not yet , they havent asked but I know they do and will


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## Marion (16 Aug 2012)

Send it to them. Don't mention dates. 

Marion


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## wbbs (16 Aug 2012)

There is not a hope they are going to notice it.   Even if they did nothing will happen, there are loads of people at the moment who have NO house insurance and are still on their trackers, I come across them regularly, it's one of the things people eventually don't pay when unemployment strikes.  That and lots of lapsed life cover too.


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## potnoodler (16 Aug 2012)

wow , I wouldnt have thought it to be widespread , the way I see it that possibly the banks could go on an aggressive offensive to void as many trackers as possible by any means possible, so if it is in the contract to always have their interests insured being my life and their house , if I reneged on any part on this then the contract could be voided.
Taking into account that certain banks seem to be operating an exit stragegy as well, I want to keep myself covered

Of course maybe I'm just far too paranoid


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## wbbs (16 Aug 2012)

You are a bit


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## potnoodler (16 Aug 2012)

if only ya knew, was on  my mind all yesterday evening and woke early and waiting to ring insurance company first thing , this thread has given me relief and putting it out of my head now 

Thanks everyone ,I just dont trust the banks at the moment and if I lost the tracker now would be under serious pressure


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## Bronte (16 Aug 2012)

wbbs said:


> , there are loads of people at the moment who have NO house insurance and are still on their trackers, I come across them regularly, it's one of the things people eventually don't pay when unemployment strikes. That and lots of lapsed life cover too.


 
That's really worrying, letting your home insurance in particular lapse.  Life insurance isn't so important if you don't have kids or need to leave an inheritance.


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