Changing insurance companies...please help

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Charla

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I'm currently trying to cut down my out goings and have just had a browse of horse insurance quotes to see if I can beat what I'm currently paying and I certainly can it seems!! I'm thinking of moving from NFU mutual to KBIS.

Do I ring up and cancel with NFU first? Or do I insure with KBIS and then cancel with NFU? For some reason I am completely paranoid that it would be just my luck for something to happen the minute I cancel my policy!!
 
I think you will need to cancel your existing policy first & then take out the other insurance. I don't think you can have your animal covered by two insurance companies at the same time?

Better still, contact KBIS & speak to them to be sure they will give you the cover you want at the right price & ask them the best way to do the change. Also consider the possibility that depending on the length of cover left with the NFU policy you may get very little refund after 'admin costs' have been deducted. It may be best to remain with your current company until renewal. :)
 
When is your current policy due for renewal or has it just renewed? If due for renewal shortly then I would wait til renewal and then change - that is mainly because you are likely to be charged admin costs for cancelling your current policy mid-term. However, this differs with each company so I would look into that first. If you are unsure then call NFU and ask them what refund you will get if you cancel the policy now and whether you are charged the admin fee - or more, is the refunded you get less the admin fee.

At the end of the day, it's up to you if you wish to move. I would call KBIS, verify your quote and check they are ok with you cancelling your current policy mid-term to move to them. They may not wish to take you on before your current policy expires so you need to check that first as personally I would insure with the other company before canceling my existing. Remember though, with a new policy there is likely to be an automatic 14 exclusion for any illnesses.
 
Get a quote from new company first, have been looking at this myself but insurance co doesnt want to cover 15 year old unless I have a 5 star vetting first (had horse 2 years)
 
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