Andy Adams is an experienced UK writer working specifically with Home and Travel Insurance.
A recent study of new home owners has found that they are not getting the best deal on their buildings insurance. When buying a new home it has been assumed that you must buy your buildings insurance from the mortgage provider too in order to be approved for the mortgage.
18% of the people surveyed who had bought their home insurance from their mortgage provider felt that they were supposed to get both from their mortgage provider. 28% of these people felt that the mortgage provider had offered the best deal. The number of people searching around for better deals with other insurers stood at 20%.
Experts believe that the main reason for new home owners not seeking better deals is laziness and that buying a new house is a very stressful and time consuming process and if there is any avenue where the buyer could shorten the task then they are likely to go with it.
The problem here is that while it may mean the process is sped up by conducting all of the business with one company that many people are likely to be paying more or getting insufficient cover for their needs with their home insurance.
In the past to make enquiries about other insurers then the buyer would need to call around the companies or visit them in the high street. This whole process has now been simplified with the consumer’s best friend: The comparison site. Websites that do all the legwork for you and can tailor a set of results of cheap home insurance for you personally from a multitude of house insurance providers.
By using these and also via the older channels such as getting financial advice from an expert can equate to cheaper buildings insurance than if you were to simply take what was initially offered by your mortgage provider.
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