home insurance

[bigbus]

I seem to be paying quite a lot for my home insurances, i recently remortgaged with the Halifax and took my insurances out with them, what insurances am i legally bound to have can anyone help?

[CheekyChops]

Your mortgage provider usually insists that you have buildings and fire cover but other than that, its up to you. You would be very silly not to have contents insurance but it isn't a legal requirement.

[Hymie]

It is normally a condition of a mortgage that you have buildings insurance (to protect the lenders interest/collateral). It would be judged an unfair condition, if it were mandatory to take the insurance via the mortgage lender.

But be warned by my recent experience � I was paying over �200 for buildings & contents insurance via my mortgage lender, I swapped to another insurance company, paying over 50% less. However my mortgage lender subsequently advised me that where building insurance is arranged via another insurer, there is a �25 fee to cover administration and contingency insurance (should the alternative cover fail).

Clearly they want their �25/year cut out of the buildings insurance. Check your policy small print for such a scam.