A question about : Can I claim against Halifax for mis selling of my buildings and contents insurance?
I am so cross!!!
In 1994 we bought our fist house with the Halifax and took out our buildings and contents insurance with them. I can clearly remember them saying we couldn't have the mortgage without a policy in place and them offering us theirs.
Never had any problems but it has steadily risen to Ј1085 pa.
Every year I have called them at renewal time and negotiated larger excess amounts to keep the policy as low as possible.
Today I made the yearly call and FOR THE FIRST TIME the girl mentioned I have an 'unlimited rebuild' policy which for our bog standard terraced house was inappropriate and she mentioned an alternative policy that had a limit of Ј400,000..........which tbh is still more than we need.
The cost for this new, tailor made policy with everything else the same?
Ј371.80!!!
That is a saving of Ј713.20 just this year and I have been overpaying for 26 years.
When I was put through to new sales and had gone through everything I mentioned to the lad on the phone how cross I was that this had never been pointed out before, and that as our first house had cost Ј37,000 it was clearly wrong. He said that back then these policies were often sold as a package with the mortgage when they were not needed!
Does anyone know if it is possible to claim back any of the many Ј1000's I have overpaid in the last 26 years?
Best answers:
- The thing is I was never told it was for unlimited rebuild costs, surely they have a responsibility to sell you the right policy for your circumstances, the girl today did. So why didn't the person on the phone last year, or the year before. If it is the wrong policy now, it has been the wrong policy since there was another one available.
- And obviously we had to have a policy in place when we bought the house, however it was never explained to us that it didn't have to be from the Halifax.
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