Yorkshire Building Society (YBS) has reached a major milestone, helping customers save more than £1m on their home insurance premiums through its 0% commission strategy, since the launch of its partnership with Uinsure six months ago.
The mutual has announced this ahead of National Insurance Awareness Day, which takes place this Saturday (28th June), and is a timely reminder for people to review their protection needs.
Recent research by Yorkshire Building Society revealed that nearly a quarter of UK adults don’t currently have buildings or contents insurance.
Of those, only one in five said it was because they didn’t need it.
The rest cited affordability (31%), a belief they had nothing of value (15%), or felt their home was already well protected (10%).
Despite two-thirds (66%) of people reviewing their insurance in the past year, over a quarter (26%) admit they only check their policy every two years or more – highlighting the importance of regular reviews to ensure adequate protection and to ensure they are getting the best value.
As part of the society’s awareness campaign, customers have been invited to attend in-branch sessions across the UK, where Yorkshire Building Society’s retail customer service colleagues will offer guidance on building financial resilience through insurance solutions.
Pete Lewis, senior savings manager at Yorkshire Building Society, said: “We’re proud to be making insurance more accessible and affordable for our members. By removing commission, we’re putting more money back in our customers’ pockets – over £1m in home insurance savings alone.
“Supporting focus campaigns like National Insurance day week allows us to talk to customers about every day financial needs they might not otherwise think about.”
