No other part of the financial services industry is more riddled with blatant, though legal, misselling than the home insurance business
If there’s one financial resolution you should make for 2018, it’s to change your home insurance policy. No other part of the financial services industry is more riddled with blatant, though legal, mis-selling than the home insurance business.
Take the case of Teresa Jackson (not her real name), who contacted Guardian Money recently. She lives in a three-bedroom terraced house in west London and has insured it with Halifax since 2005. The premiums have gone up nearly every year, from £53 a month in 2009, to £65 in 2012, and £83 in 2016. Her most recent hike, to £102.25 a month, or £1,227 a year, made her finally pay attention. Jackson went on to Halifax’s website and entered the same details for the same cover at the same address. Back came a quote for £370 a year. In other words, she was paying 3.5 times more for the same cover.
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