Home insurance premiums frozen by HSBC

Homeowners who are worried about the increasing cost of home insurance have been offered a new fixed deal with HSBC .

For those who are new customers to the bank, or who are a customer of HSBC but do not have home insurance with them, will be able to have the chance of freeze their home insurance premiums for the next five years.

Head of insurance propositions at HSBC Dennis Smith commented: The vast majority of home owners favour the stability of a fixed-rate mortgage and we believe that consumers would appreciate the stability of home and buildings premiums that are frozen for five years as well.

Mr Smith remarked that this new deal will be particularly beneficial to first-time buyers and to those homeowners who are concerned about the rising cost of home insurance premiums.

Homeowners must take out the policy before September 30th to qualify for the offer.

Yesterday, homeowners were advised by Zurich Insurance to make certain they update their home insurance details when they move house .