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paying two house insurance policies!

  • 12-06-2012 9:39am
    #1
    momnewport
    Registered Users, Registered Users 2 Posts: 19 ✭


    I just discovered i have been paying two different insurance companies for house insurance. I was signed up to allianz through my bank where i got a mortgage last year and when the first year was up I shopped around and got a much better deal with 123.ie. I paid for the new policy with them and assumed that the first policy with allianz would just lapse. Now I have just received two Thank you for your custom letters and renewal forms....Do i have any right to claim back the money as I didnt sign a rewenal form with the allianz? or is the bank in charge of that and I dont have a say?


Comments

  • #2
    sandin
    Closed Accounts Posts: 1,594 ✭✭✭sandin


    momnewport wrote: »
    I just discovered i have been paying two different insurance companies for house insurance. I was signed up to allianz through my bank where i got a mortgage last year and when the first year was up I shopped around and got a much better deal with 123.ie. I paid for the new policy with them and assumed that the first policy with allianz would just lapse. Now I have just received two Thank you for your custom letters and renewal forms....Do i have any right to claim back the money as I didnt sign a rewenal form with the allianz? or is the bank in charge of that and I dont have a say?

    In your mortgage conditions it states you must inform the bank of any change in your insurance company as they are in effect joint owners of the property and want to ensure that it is insured against damage.

    As you obviously did not inform them, they automatically renewed the insurance for you.

    If the insurance was not connected with the bank it would have elasped and the insurance company would have informed the bank of that and the bank would have contacted you looking for details of the new insurance.

    Therefore as it was up to you to inform them that you wished to change, you probably won't be able to reclaim - though no harm in asking.


  • #3
    slimjimmc
    Registered Users, Registered Users 2 Posts: 7,786 ✭✭✭slimjimmc


    ^^ +1.

    It's also normal that if you've been paying by Direct Debit your policy will be automatically be renewed unless you cancel in writing (read the small print). If so, then you've no comeback unless you can show you gave written instructions to cancel the policy.


  • #4
    momnewport
    Registered Users, Registered Users 2 Posts: 19 ✭momnewport


    Thanks for the speedy replies. Just been in contact with all parties involved and it looks like I am able to claim back the money by forwarding them a letter of indemnity. (It may be short a months charges.)This is all so new to me. Never making this mistake again. Felt like I was after flushing money down the loo. Phewwwww.....


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