I have recently discovered that my insurance company has been charging me for insurance as if my rental property is commercial property, which increases the premium significantly every year. Other insurance companies have quoted me less based on DP3 insurance. Is this appropriate or can I ask for reimbursement of overpayment?

  • 1
    Please specify the location of the property. Countries and states handle insurance differently. Commented May 24 at 19:41
  • Are you the tenant or the landlord? If landlord, that's a business and it may well be counted as commercial. That would also not be a Personal Finance question , probably.
    – keshlam
    Commented May 24 at 20:50

1 Answer 1


Generally, if you sign a contract - you have agreed to it. You purchased the insurance coverage based on certain terms and conditions that were known to you and agreeable to you, and the insurance company assumed the risk accordingly. You're now asking for a refund retroactively, after the risk has already passed. I don't think you have a case.

Whether one insurance company treats rental as a commercial enterprise or not doesn't mean anything to another insurance company. It may be that one insurance company classified your activity as commercial and another doesn't. It may be that one insurance company priced your risk in one manner and the other in a different manner.

Shopping for prices is your responsibility, you cannot expect a refund from a provider from whom you've purchased a service just because later, after the service has already been provided, you've discovered that someone else could have provided it for less.

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