Halifax Insurance car

An older woman reading by a fireLoyal, mostly elderly customers of home insurance companies are being royally ripped off . Photograph: Alamy

How much should the buildings insurance be on a £250, 000 terrace house in Redcar, north-east England? It probably wouldn’t be difficult to find quotes for less than £200. Yet what the son of the elderly woman living alone in the house found after going through her papers following her death in 2010 brings shame on one of our biggest financial institutions, Halifax.

What was Halifax’s response? Did it review the premium and reduce it to reflect the prices that other people were paying in the market? Oh no. What Halifax appears to have done is reopen her former mortgage account with the bank, then charge the insurance premiums to that account. Halifax then continued jacking up the price every year, to a vastly inflated £800 at the time of her death – a figure her son says is around six times the going rate. The final insult was that Halifax charged interest on the unpaid premiums, making ever more profit out of its elderly, loyal and vulnerable customer.

Mrs Laurie’s son discovered the situation when going through his mother’s papers after her death. He knew his parents had paid off their mortgage with Halifax many years ago, so was, in his words, “startled” to find there was a balance owing on her mortgage account of nearly £3, 000. This was the amount that Halifax had charged in inflated home insurance premiums, plus the interest compounded on top.

“My mother had been good at managing money, but as she got old she couldn’t face change so she persisted in dealing with the same companies. These organisations appear to be exploiting vulnerable people who are unable, for one reason or another, to deal with the hassle of constantly renegotiating terms, ” says her son.

Share this article


Home | Yahoo Answers

I have my g2, i am 19 years old, and i am trying to find a cheap insurance to quote me on a cheap car....its only a 99 cavalier 4 door. I have done a lot of online quotes and i have basically gotten the same quote around $430. I would like a quote more around the $200 range!! Help! Anyone know of any cheap auto insurances??
Follow 3 answers

Related Posts

Canadian Insurance card
Canadian Insurance card
U.S. car Insurance
U.S. car Insurance
Classic car Insurance Calgary
Classic car Insurance Calgary

Latest Posts
Supermarket car Insurance
Supermarket car…
Get Our Free Weekly Email! For all the…
Average car Insurance Toronto
Average car Insurance…
Tony Sottile (l) and his son Cameron…
Provide Insurance Official site
Provide Insurance…
30-Day Decision Review Period Enrollees…
Extra car Insurance
Extra car Insurance
Often times, people end up buying supplemental…
Driving without Insurance Ontario
Driving without…
Fail to Surrender Insurance | Permit…
Featured posts
  • Canadian Insurance card
  • U.S. car Insurance
  • Classic car Insurance Calgary
  • Costco car Insurance Canada
  • Allstate car Insurance Canada
  • Cost of car Insurance in Ontario
  • Extra car Insurance
  • Supermarket car Insurance
  • Belair Insurance car
Copyright © 2018 l www.getfreeinsurancequotes.net. All rights reserved.