Gocompare.com: Customers pressured into buying mortgage lender's home insurance
www.moneynews.co.uk > General finance > Gocompare.com: Customers pressured into buying mortgage lender's home insurance
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Gocompare.com: Customers pressured into buying mortgage lender's home insurance
Wed 2nd Jul 2008
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The site found that simply buying a lender's policy could cost an extra £110 a year.
Of those who bought the insurance from their lender, 12 per cent said they felt pressured to do so or believed it was compulsory.
Just 19 per cent said they bought it because they believed it was value for money, while two-thirds said it was convenient.
Hayley Parsons, chief executive of gocompare.com, said the results were "worrying".
She said customers needed to understand they were under no obligation to buy cover from their lender, explaining that since lenders usually provide insurance from one company, it was not likely to be the best policy.
The information comes as Zurich Private Clients found that British homeowners leave more than £100,000 of belongings in their second homes when unattended.
The survey of 1,000 second homeowners, which found only 48 per cent have window locks on their holiday homes and just one fifth have a burglar alarm, was reported by onlyfinance.com.
Related News : General finance |
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Related News : Mortgages |
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Related News : Insurance |
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