A recent research conducted by GoCompare.com published in The Guardian has revealed that many homebuyers took out a home insurance policy with their mortgage lenders. The majority fearing that it would affect their mortgage if not taken out.
72% of the homebuyers had made no comparison check on home insurance policies available to them at more economical rates, to cover them for their contents. Whilst it is legally required to cover the building/construction of the property, it is not obligatory for the borrowers to take out house insurance with the lenders, they can save valuable money on making comparisons with other insurance companies.
Have you made a comparison check recently on your home insurance policy? Contact me for a free, no obligation quote and peace of mind.
Homebuyers may be paying too much for insurance, says research
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