HouseBuyer10
Registered User
- Messages
- 69
The insurer/broker will ask if there's a lender with an interest in the property when you're taking out cover and will inform them as far as I know.If you have done this recently, what happens after we pay the new insurer? Do we need to inform the bank or will the new insurer do that?
Don't think so as long as the property is adequately insured for the rebuilding cost and the lender is satisfied. There's no real question of negatively impacting the mortgage. The insurer just requires that the property is adequately insured. They're not that interested in the details otherwise.Is there anything else we need to do to make sure the mortgage is not affected negatively
Did you mean lender?2. You must inform your insurer of the change.
You don't need to go to that bother.I wonder if our bank should receive the new quote we’d like to go for and approve it as a suitable switch.
I've no experience with them.Are you familiar with home insurance policies for 2 and 3 years. Is it worth going for that instead of the usual annual policy?
Don't just look at the price, look at the exclusion clauses what they won't pay out for. Or what you might call get out clauses ie. Water leaks etcHi everyone
We have never changed our home insurance provider since 2015 when we got a mortgage. I’ve asked for a couple of quotes from other insurers and was shocked at the difference (approx.€120) between the renewal quote we received from our current home insurance provider and the other quotes.
We would like to change to another home insurance provider.
If you have done this recently, what happens after we pay the new insurer? Do we need to inform the bank or will the new insurer do that?
Is there anything else we need to do to make sure the mortgage is not affected negatively?
Thank you.
I have Aviva for 5 yrs which has a no claims bonus taken from a ridiculous high basic quote which brings it back to a normal priceThanks, everyone, I appreciate your advice. I’ve got a few quotes from Zurich, Aviva, Axxa, Allianz. Would you recommend any of these for their customer service?
You are correct - I should have typed "You must inform your lender of the change"Did you mean lender?
I thought that the insurer informed the lender.
But no harm in making sure I suppose.
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