Lloyds TSB introduces home insurance premium waiver for those made redundant

Lloyds TSB will support customers by introducing a home insurance premium waiver for those made redundant.

Lloyds TSB home insuranceThe waiver, for up to 6 months, will be available to customers who buy thier home insurance policy from a Lloyds TSB branch from today, 6 April until 6 June 2009.

According to research from Lloyds TSB, some 60% of those surveyed said they were concerned about their financial circumstances and over 25% felt they were at risk of redundancy over the next year.

Over 10% of those surveyed felt that they were unlikely to renew their home insurance and an amazing 15% claimed they had already cancelled their home insurance mid term to reduce their costs.

Retail Banking Insurance Director at Lloyds Banking Group , Mike Canniffe, said ‘In these uncertain economic times many of us are making sacrifices, but it’s alarming that so many are prepared to forego the valuable safety net insurance offers. Shopping around for the best deal can deliver valuable savings without losing that protection.’

He added ‘We’re committed to supporting our customers and hope that this added benefit will offer a helping hand when they need it the most.’

The home insurance offer applies to the Lloyds TSB ‘Home Solutions’ insurance policy purchased between 6 April and 6 June 2009.

Those customers made redundant between buying the policy and the end of 2009 will qualify for up to 6 months waiver on their premium.

In addition to Lloyds TSB, there are a number of providers of home insurers, such as Norwich Union, Direct Line and More TH>N.

To help with comparison of what insurers offer, comparison websites, such as Gocompare.com, have established themselves.

From these comparison sites you can get a home insurance quote quickly and easily from a number of insurers and see how the premiums and cover differs. You can then select the one that best suits your needs.

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