Hi,
I have had my mortgage since 2004. Every year I am charged the same amount for the mortgage protection insurance for the mortgage amount that I took out in 2004. I did a quick quote on an insurance broker website for the amount of the mortgage as it stands now and for the remainder of the term and found that it would cost me more annually if I were to switch insurance providers. I cannot understand why this is so. Is this one insurance that we would not need to look for a better deal every year?
I have had my mortgage since 2004. Every year I am charged the same amount for the mortgage protection insurance for the mortgage amount that I took out in 2004. I did a quick quote on an insurance broker website for the amount of the mortgage as it stands now and for the remainder of the term and found that it would cost me more annually if I were to switch insurance providers. I cannot understand why this is so. Is this one insurance that we would not need to look for a better deal every year?