Don’t Let Your Mortgage Lender Sell You Home Insurance.

Many times on these pages we talk about shopping around for a better deal, but even I was ripped off - twice.

A couple of years ago I bought a new home, completing the sale just a few days before Christmas.

With all the pressure of selling, buying and moving, I let my guard slip when my lender pointed out that it was a requirement of my mortgage to have buildings insurance.

Like any good sales person they offered me a quote and to take care of it there and then. It didn’t seem too bad - about £225. I accepted it and crossed off one less thing to worry about with all the mayhem of moving.

This time last year was also hectic for me and when the renewal for £250 arrived, I just let the policy renew. Big mistake again.

This year the renewal was just over £300. I decided to shop around and got the required insurance coverage for £75 elsewhere from a well known insurance company.

I’m such a mug for pay 3-4 times over the odds - twice. All for the sake of not shopping around I flushed about £350 down the loo. Worse still, it was my own bank who ripped me off.

So the moral of this story, -  always get a few quotes and then never blindly renew a policy as insurers give the best deals to new customers.

Please share your thoughts be leaving a comment. 
Have you ever been ripped off by insurance?
What’s the biggest difference in quotes you’ve have had? I like to hear someone beating a 4 fold difference.

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