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No mortgage, cheaper insurance?

Retire
Retire Posts: 71 Forumite
in Insurance & life assurance
The time has come for me to get buildings and contents insurance and I was just wondering because I am mortgage free will my insurance be cheaper because of this?

Or dearer, or not make any difference?

Comments

  • ACG
    ACG Posts: 24,897 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Im not sure it asks if you have a mortgage does it? I dont do a lot of B&C but im sure it just asks if you are a homeowner.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • dunstonh
    dunstonh Posts: 121,118 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    They often ask if you have a mortgage in case the lender wants to be named or noted on the policy. It is not a pricing question though.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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