Switching Home Insurace

NuriaF

Registered User
Messages
7
Hello, my home insurance will expire next week. I'm thinking of switching company as I get a much better deal somewhere else.
I pay every year by bank transfer a few days before it expires. My current insurer is Aviva and I use a broker (Marsh). Do I have an obigation to notify either the broker or current insurer that I don't want to renew the house insurance with them anymore ? I will buy the new policy online direclty with AXA where I get a big discount. The house still has a mortgage attached

Thanks
Regards
Nuria
 

horusd

Frequent Poster
Messages
1,601
I usually inform my present insurer when switching, particularly if there's a mortgage attached, to avoid contact with mort. holder saying my cover expired. I don't believe you must inform the current insurer, but it smooths things out. Make sure you get indemnity letter from AXA. They are usually in a standard format. Y
 

NuriaF

Registered User
Messages
7
Thanks Horusd for the feedback. I was not aware of the Indemnity letter. I will request it and notify both old and new insurers. As for my present insurer I thought that in any case they would contact the mortgage provider to tell them that the policy has not been renewed with them. I will have contacted the mortgage provider beforehand anyway and sent them the new policy and payment receipt, so should not have any issues. The outstanding mortage is very low anyway, below 10 grand.

Thanks
Nuria
 

LDFerguson

Frequent Poster
Messages
4,088
My experience with my home insurance broker is that they will maintain cover after the renewal date for a period of time. This is to make sure that you are not off cover if you happen to be late paying it for some reason. If you intend to renew with a different insurer, I think you should notify Marsh of this, before the renewal date.
 
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