Insurance through your mortgage provider?

I thought when taking out a mortgage you had to take your insurance through your mortgage provider. Research by the Post Office has shown that by purchasing cover through your mortgage provider us Brits are wasting £600 million per year.

It does save time to have your insurances through your provider as it is one less thing to think about when purchasing a property or remortgaging.

You do have to show when purchasing a property that you have adequate, building, contents and life insurance to cover the property. The Post Office have revealed that you could save up to £170 per year by shopping around.

You should shop around for your payment protection policies for your mortgage to get the best deal. These types of policies should be in place to ensure that in the event of sickness, injury or being made redundant that your mortgage payments will be made.

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