Can you have two home insurance policies on the same house?
Key Takeaways
Legally speaking, you can hold multiple home insurance policies on the same property - though it isn’t always the best option
Insurance companies may decide to use a contribution clause, where they split the claim between them - but neither will pay the full amount
It might be more practical to add multiple names to a single policy for co-owned homes and homes of multiple occupancy
Can I have two home insurance policies on the same house?
Yes, a homeowner can have two home insurance policies on the same house. Many homeowners have separate buildings and contents insurance policies. However it’s often cheaper to take out a combined policy with one provider.
You might want to include accidental damage insurance as an add-on to your contents insurance to make sure you are fully covered.
Doubling up on contents or buildings insurance isn’t usually advisable - it will cost more, and might not offer an enhanced level of cover. However in some cases, for example if you need specific business cover or cover against natural disasters or high value items, a specialist policy might be necessary.
📣 Did you know? Another type of extra cover you might need is home emergency cover to cover boiler and heating issues, plumbing and leaks.
Can I claim twice if I have two separate policies?
If you have separate buildings and contents insurance, you can make an insurance claim on both policies in the event that both your buildings and contents are affected by an event - such as a flood or fire.
However, if you want to double up on claims for just contents or buildings, it’s unlikely you’ll get a full payout from either insurer - they may choose to split the value of the claim between them. This will normally be detailed in the policy documents.
But this is likely to make the claims process longer and more complicated, so it’s generally not a good idea.
How can I avoid doubling up on insurance?
To avoid doubling up on your house insurance, check whether your cover automatically renews. If you’re planning on changing providers, you can cancel the auto-renewal.
Insurers should contact the policyholder about a month before an insurance contract is due to expire. This is good time to start shopping around for a new policy.
Can two people be listed on one home insurance policy?
Yes, you can list multiple people on a single home insurance policy. This can be particularly useful for shared ownership homes, renters, or homes of multiple occupancy - it’s often cheaper than taking out separate policies, and less of a hassle too.
Contact your insurer, tell them your circumstances, and provide the necessary details for anyone you’re adding to your policy and they should be able to help.
How can I arrange my home insurance when I am moving home?
If you’re moving to a new property, mortgage lenders’ rules mean you’ll need insurance in place as soon as contracts are exchanged. So you’ll need to buy a new policy for your new home.
But keeping your existing home insurance might be a good idea until you move into your new home.
📣 Did you know? Once you’ve moved, you’ll need to cancel your old policy.
How does home insurance for second homes work?
If you need a second home insurance policy for a second property, such as a rental property or a holiday home, you’ll need a separate policy. When you generate a home insurance quote you’ll need to state what the property is used for. Contact the insurer if you’re not sure about anything, as it’s important to have the right cover in place.
For example, you can take out landlord insurance for properties you get a rental income from, while second home insurance is available for properties that aren’t your primary residence. You might pay more for insurance if the property will be unoccupied for long periods.
