Mind the gap (in cover) when renewing Home Insurance

Tommy Power

Tommy Power

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Even the smallest break has consequences on cover

Having a gap in your Home Insurance cover seems innocent enough. You may have had a busy period where other things were a priority. Maybe you needed some time after the policy expired to get the money. However, you could end up getting a nasty surprise when you eventually get around to sorting out cover.
When getting insurance, insurers can have a difference in how they deal with a property that is the subject of a break in cover. Indeed, there are some insurers who will wipe out any No Claims Discount if you have a gap in cover of over 1 month. Yes, you read that right. Just a month. That’s not a long period of time. And it’s something you really don’t want to find out when it’s too late to do anything about it.
You’ll be glad to know that this is not the case with all insurers. Some are even willing to accept any property regardless of the gap in cover provided a ‘Gap in Cover Declaration’ is signed by the policyholder as part of renewing cover. It is important to disclose any gap in cover. Failure to do so can jeopardise any future claims as the risk may have fallen outside the insurers risk criteria.

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