Paying for home insurance twice?
A reader from Aberdeen has mistakenly been buying home insurance twice. He wants to know if he can get a refund.
Emma Holyer, myfinances.co.uk insurance expert from LV= Insurance, tackles the issue.
Robert from Aberdeen asks:
I have just discovered that I have been paying two separate insurance companies for three years for my home and contents cover.
Do I receive 50% refund from both companies?
Emma replies:
It will ultimately be up to the individual insurer but the majority of insurers would look upon your situation sympathetically.
They will ask you to prove you already had insurance in place elsewhere (a copy of a home insurance certificate would suffice) and then will refund some or your entire premium back.
If one of the policies you had in place came packaged with another financial product, i.e. your bank account or mortgage, you might well be best approaching the other insurer first as they may understand why you didn't realise the cover was in place and refund the whole amount.
If you have a question for Emma, go to the myfinances.co.uk Ask the Insurance Expert section.
LV= Insurance - the Liverpool Victoria Friendly Society - is authorised and regulated by the Financial Services Authority.
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