Late payment house insurance premium

W

Westy29

Registered User
Messages
83
Hi

My house insurance was due for payment to my broker by yesterday the 6th August. I completely forgot to pay it last week.

I know I won't be covered for today etc but will I have trouble getting them to reinstate it from tomorrow morning?

Will they charge me a penalty or try to recalculate the premium??
Thanks
D
 
You usually have a week or so to pay after expiry date. Ring them tomorrow to pay over the phone, you should be fine.
 
Indeed you might get a better deal, but remember if you do that you have a gap in cover. It might not be much, but where would you be if a liability claim was made against you in the future for the gap, or if you had subsidence later, there would also be problems. Better to renew if you can with current broker/insurer adn if you want to shop around, do well in advance of next renewal.
 
Check with the broker to see if they have any credit period with the insurer that might allow renewal to be paid at a date later than the precise renewal date. If so, no problem as the broker will pay the insurers and you pay the broker. This may well not apply to all brokers especially the smaller ones. Speak to the broker.
 
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