Britons are not obliged to accept home insurance from mortgage provider

It is a common misconception that you are under obligation to accept home insurance from your mortgage provider, it has been claimed.

According to an article which appears on Property Talk Live, insurance from your mortgage provider will tend to be more expensive and is rarely the best option for a homeowner.

Your mortgage and home insurance are two completely separate packages and should be treated as such, the website stated.

Industry experts suggest that we waste in the region of £100m every year by accepting automatic renewals for home insurance.

Many of us are simply too busy to shop around, the site observed, meaning that insurance companies make a profit out of our lack of time.

However, by undertaking an online home insurance comparison, Britons can save a significant amount of money.

Julie Owens, head of home insurance at moneysupermarket, recently told the Scotsman newspaper that Britons should supply accurate information when making a new home insurance application.