You’ve found a better deal
Whether you’re moving house or not, we all like to save a few pounds, and often it’s possible to do so by shopping around. With home insurance however, you do need to take a few things into account before you make the decision. If you don’t, you might not save the money you thought you would.
Switching mid policy will usually involve cancelling your existing policy and taking out a new one.
The good news when you cancel a policy is that most insurance providers will give you some sort of pro-rated refund - provided you haven’t made any claims during the policy year that is.
In theory this means that if you cancel after six months, you could get back half of what you paid in premiums. However, beware your insurance provider may charge you an administration fee. It’s also worth noting that you may have to pay for any add-ons you have on your policy.
If you’re not careful, you might end up getting back a lot less than you anticipated, potentially even wiping out the savings that you hoped to make from switching.