Industry News from Yes Insurance

By opting to take out home insurance cover with their mortgage provider, half of householders in the UK may be missing out on a better deal, it has been claimed.

According to the Post Office, 46 per cent took out the insurance with their mortgage lender, while one in ten thought it was compulsory to do so.

It added that there is as much as £40 million each year potentially being squandered by consumers because they choose not to shop around.

And Phil Ashkuri, head of insurance at Post Office Financial Service, has claimed that the convenience of taking out insurance with the lender as soon as the mortgage is agreed upon does not guarantee a bargain.

"Our advice is to shop around as there are better home insurance deals out there from standalone providers," he said.

Meanwhile, police in Cumbria have reminded local residents to lock up to ensure their home does not become prey to opportunistic thieves.

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