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Home Insurance Scandal

(July 31, 2015)
A concerned resident has contacted the administrators of this website to publish the following as a warning to other members of our community.
" I  have recently found out that Lloyds Bank Insurance Services have been over-charging a family member for her buildings and contents insurance. She has been asked to pay over £800 for a product which I could have purchased for just over £100 via the internet. These companies are relying on the misplaced loyalty of people who have limited access to the open market and therefore will accept that what they are being offered is good value. At my behest my sister has challenged the charge and has been offered a reduction to around £360 by Lloyds, but she has already paid over £200 in monthly instalments. The sad thing is that my sister has foregone some simple pleasures which she could not afford because she has been paying through the nose for over-inflated insurance cover. I would urge all those with family members who have no access to the internet to ask what they are paying for home insurance (even at the risk of seeming nosey)  and I hope that they are not as shocked and outraged as I was. It might be the only way to stop the insurance industry of selling what they euphemistically call "legacy products", and enable those on a limited income to enjoy life more rather than propping up the bloated financial services industry"

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