Yorkshire Building Society has reached a major milestone, helping customers save more than £1 million 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 (28 June), and is a timely reminder for people to review their protection needs. The Society’s approach—offering insurance without taking commission—means customers benefit from lower premiums and greater transparency.
Recent research[i] by Yorkshire Building Society reveals that nearly a quarter of UK adults don’t currently have buildings or contents insurance. Of those, only 1 in 5 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.
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 £1 million 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."
As part of the awareness campaign, customers are 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 tailored insurance solutions.
The mutual has chosen Uinsure who work with a panel of leading UK insurers to automatically generate customers a quote based on the same 5 Star Defaqto rated policy. Providing customers with easy comparisons between providers with the only difference in the product being the price.
When it comes to purchasing life insurance products the mutual offers the same 0% commission service through LifeSearch. Yorkshire Building Society customers benefit from LifeSearch’s dedicated team who deliver their promise to protect people properly; providing advice, support and choice from leading insurers and products.
Customers can get quotes through the Yorkshire Building Society website or by speaking, fee-free, with an expert adviser at LifeSearch.
