Are you throwing away money on insurance?
Nearly half of all homeowners are paying way over the odds for their buildings, contents and life cover because they choose their mortgage lender’s insurance.
The Post Office says more than eight million people are throwing away a combined total of £40 million every year because they buy their lender’s products instead of shopping around.
One in 10 do so because they think (wrongly) that it’s compulsory to buy home or life cover from mortgage provider, and one in 20 actually believe they might not get the mortgage they want if they don’t buy insurance too (wrong again).
But most people say they stick with their lender simply because it’s ‘convenient’.
£40 million is a high price pay for convenience, don’t you think?
