Home insurance cancellations and the cooling off period
Sarah Rigney
Staff Writer

Usually, a home insurance policy will last for twelve months, but you’re free to cancel it at any time.

If you’ve changed your mind about the home insurance policy you’ve taken out, or are thinking of switching to a different insurer, don’t worry. 

You’ll be glad to hear that you’ll be able to cancel your policy at any time. Better yet, if you decide to cancel within the first 14 days of taking your policy out, there won’t be any negative repercussions.

In this guide, we outline how you can cancel your home insurance policy and answer any questions you may have on doing so.

This is the third guide in our six-part guide series on taking out home insurance, which aims to help you better navigate the home insurance world and find the best value cover.

You can find the rest of the guides in this series linked at the end of this article.

Changing your mind

If you decide you want to cancel your home insurance policy within 14 days of taking it out, you’ll be able to get a refund from your insurance provider.

This timeframe is known as the 14-day cooling-off period. It begins on the day you receive your policy documents, or on the date your policy starts.

You will be charged for the period of time that the policy was active, and you may have to pay an administration fee.

Similarly, if you set up your home insurance through a broker, you may also be charged a fee by them. 

Information about cancellation fees can usually be found in the terms and conditions of your policy.

Will I get a refund if I cancel after the cooling-off period?

You can still cancel your home insurance policy after the cooling-off period has passed, however, whether or not you get a refund will depend on the insurer. 

You’ll likely get a refund for the remaining amount for the unexpired period if you have not made a claim while with your insurer. 

You could be subject to an administrative fee as well, which will be deducted from your refund. 

You should be able to find the details of this outlined in your policy documents.

How can I cancel my policy?

If you wish to cancel your home insurance policy you should inform your insurer in writing, through an email or a letter. Make sure you state the date you want it cancelled.

It may even be possible to cancel over the phone, depending on the insurer.

If you’re unsure of how to cancel your policy, it may be a good idea to call your insurer and ask. 

Do I need to cancel my policy if I’m moving home?

Yes, if you’re moving to a different home you’ll need to cancel your existing home insurance policy. 

This is because it’s not possible to transfer a policy from one property to another, as it would be for car insurance

You will then need to take out a new home insurance policy for your new dwelling. Don’t forget that having home insurance in place is a requirement for most mortgage holders. 

Can the insurer cancel my home insurance policy?

Yes, insurers reserve the right to cancel your policy at any time, provided they give you 14 days' notice in writing.

There are several reasons why your home insurance policy could be cancelled, such as:

  • Non-payment 
  • Making multiple claims
  • Committing fraud
  • Non-disclosure  

Find the best value home insurance on bonkers.ie

If you’re searching for the right home insurance to suit your needs, look no further. On bonkers.ie, you can get a discounted quote using our home insurance service

You’ll have the option to include contents cover, specified items cover, and accidental damage cover.

If you want to learn how to use our tool, check out this guide.

Did you know we also offer a range of other services? 

You can save on your energy and broadband bills on bonkers.ie, not to mention a variety of other insurance types, such as mortgage protection. This is another type of insurance you’ll also need if applying for a mortgage.

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Take a look at our other home insurance guides

If you found this guide helpful, make sure you check out the others in our series:

You can stay up to date on all the latest home insurance news and saving tips with our blogs and guides

Need any help?

Do you have any questions about the home insurance cancellation process? If so, get in touch, we’d be happy to help. You can contact us on Facebook, Twitter, and Instagram.