Mortgage protection insurance same provider the last 15 years

Discussion in 'Insurance not covered in other forums' started by Pieface, 12 Jan 2019.

  1. Pieface

    Pieface Registered User

    Posts:
    29
    Hi, I purchased my mortgage protection insurance in 2005 through a broker to cover a 25 year mortgage for €248000. It is a reducing benefit policy. The amount I have paid annually for the last 15 years has stayed at €243. I change other insurance and utility providers every year to get savings. But this is one provider that I have not changed at all. Should I be changing providers for mortgage protection insurance every year or at least look into it? Or do people tend to stick with the one provider for the duration of their mortgage? Thanks.
     
  2. Protocol

    Protocol Frequent Poster

    Posts:
    2,844
    No harm to get a quote from www.labrokers.ie

    But note that changing MPP is messier than changing house or car insurance.
     
  3. Monbretia

    Monbretia Frequent Poster

    Posts:
    1,532
    Much messier especially if any health issues in intervening years, I wouldn't be looking to switch every year anyway. I have several policies for many years and have never changed them. I would shop around every year for all other insurances. No harm getting a quote anyway.