HSBC home insurance premiums frozen

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HSBC home insurance premiums frozen

New and existing customers of mortgages with HSBC can now save on home insurance too.

The bank has decided to freeze home insurance premiums for a period of five years when customers take out a combined building and contents policy.

Policyholders will also receive £50 cashback. The offer runs until the end of this month.

HSBC's head of insurance propositions Dennis Smith said that the deal will attract first-time buyers and those concerned by rising insurance premiums in the wake of flooding in the UK.

"The vast majority of homeowners favour the stability of a fixed-rate mortgage and we believe that consumers would appreciate the stability of home and buildings premiums that are frozen for five years as well," he said.

This week, Zurich advised people moving home to ensure that they check and update their home insurance when they arrive in their new property.

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