Yorkshire Building Society has helped its members save over £2 million in insurance premiums since introducing commission-free Life and Home insurance a year ago. This milestone means thousands of households have enjoyed lower costs and greater peace of mind without compromising on quality cover.
The mutual launched these services in response to a clear need, with research at the time showing that almost a quarter of Brits had no home insurance, with a third (31%) citing cost as the main barrier, and nearly three-fifths (58%) had no life protection in place, leaving families financially vulnerable. Many people also admitted they hadn’t reviewed their policies for years, highlighting the importance of making protection easier and more affordable.
By removing commission and partnering with trusted providers Uinsure and LifeSearch, Yorkshire Building Society created a one-of-a-kind proposition that passes every penny of savings back to members. This approach ensures customers can access Defaqto 5 Star-rated home insurance and a wide range of life and lifestyle protection products at the best possible price, whether online or through expert advice.
Since launch, home insurance policies arranged through Uinsure have averaged £310, which is £81 cheaper than the Association of British Insurers’ average premium. This means members are getting comprehensive cover at a significantly lower cost compared to the market standard.
Life insurance policies arranged through LifeSearch have delivered an average 12% reduction in monthly premiums, saving members approximately £1,651 over the policy term. These savings make long-term protection more attainable for families who want security without financial strain.
Susan Allen, Chief Executive at Yorkshire Building Society, said: “One year ago, we set out to make protection fairer and more affordable by removing commission and passing every penny of savings back to our members. Too many households were missing out on cover because of cost or complexity, and we wanted to change that.
“Today, thousands of members have chosen affordable protection for their homes and families, —saving over £2 million in premiums. This isn’t just about numbers, it’s about giving people confidence that what matters most is protected.”
Debbie Kennedy, CEO of Protection Advice at LifeSearch, added: "The first year of our partnership with Yorkshire Building Society has delivered something remarkable – genuinely transformative outcomes for customers. What makes this partnership special is that members get both better value and better outcomes. They're saving an average of 12% on their premiums while also getting genuine choice, better access to the wider market, and specialist advice that ensures they find the right cover for their circumstances. Together we are protecting people properly. This is what better value and better outcomes looks like in practice."
Lauren Bagley, chief distribution officer at Uinsure, said: “Yorkshire Building Society had a clear vision to make insurance simpler and genuinely member-focused and our role at Uinsure has been to support that vision every step of the way. By working closely with the team at YBS, we’ve built a home insurance proposition that’s easy to access, high quality and aligned with the values of a mutual that puts members first.
“We’re incredibly proud of how this partnership has developed over the past year. Together, we’ve combined trusted cover, strong service and a seamless journey to help Yorkshire Building Society deliver an insurance offering that truly supports its members and gives them confidence that their homes are properly protected.”
