Yorkshire Building Society has helped its customers save more than £1m on home insurance premiums, thanks to its 0% commission model launched in partnership with Uinsure six months ago.
Announced ahead of National Insurance Awareness Day on Saturday, June 28, the milestone highlights the mutual’s drive to make protection products more affordable and transparent, according to FF News.
“We’re proud to be making insurance more accessible and affordable for our members,” said Pete Lewis, senior savings manager at Yorkshire Building Society. “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 everyday financial needs they might not otherwise think about.”
The Society’s approach means customers get insurance quotes based on a standard 5 Star Defaqto-rated policy, with the only difference being the price—simplifying comparison and encouraging value-led choices.
New data from Yorkshire Building Society reveals that nearly one in four UK adults don’t currently have buildings or contents insurance. Among those without cover, 31% said it was due to affordability, 15% felt they had nothing of value, and 10% believed their home was already protected. Only 20% said they simply didn’t need it.
While two-thirds (66%) of people reviewed their insurance in the last year, more than a quarter (26%) admitted to only checking their policy every two years or less—leaving many potentially underprotected or overpaying.
To mark Insurance Awareness Day, Yorkshire Building Society is running in-branch sessions across the UK where customers can speak with Retail Customer Service colleagues for guidance on insurance and financial resilience.
The Society’s partner, Uinsure, works with a panel of leading UK insurers to offer quotes on consistent cover, allowing customers to easily compare providers. The same 0% commission approach also applies to life insurance through LifeSearch, which offers free expert advice and access to products from a wide range of providers.
Customers can get insurance quotes via the Yorkshire Building Society website or by speaking to a LifeSearch adviser at no extra cost.
