Can You Really Find Free Insurance Through Your Bank Account

by Chris on February 15, 2010


Almost all UK banks now offer a premium type of checking account, that provides additional goodies to the customer, that could save you money on a regular monthly basis, we take a closer look at this type of bank-account, together with one of the insurance plan possibilities with the premium bank account.

To be familiar with these types of upgraded bank accounts, let us take a closer look. They are also known in the UK as premium current bank account. Basically, the premium bank account is really a paid account, that you pay the financial institution a month-to-month subscription fee and in return, you get an upgraded version of the free current bank account which, the financial institution offers to its normal customers free of charge. Now it may seem crazy to pay a subscription fee to your bank, for something that you could get for free, but they do throw in quite a few extras in to the deal.

One of the main extras the banks throw in to attract your once a month subscription fee operate in the insurance policy area. They will often offer free travel insurance, a large discount on your vehicle or home and buildings insurance, along with things like mobile phone insurance, iPhone insurance or notebook insurance.

So fundamentally, if your were paying insurance coverage premiums for your car and home insurance, along with say a premium for your iphone insurance too, if you included the price for these premiums with each other, you may well find that you could save quite a considerable sum of money each month by opting-in for the upgraded kind of bank-account. You may also find you will get beneficial rates of interest on your savings and or loans and bank cards.

One area associated with the upgraded kind of bank accounts services you might explore before you upgrade though is items like the banks mobile phone insurance. While you might get the free cover that can save you money every month, there are reports of it taking 8 weeks or so for the claims process to complete. Now if a quick phone replacement was important to you, this particular bank-account type of insurance may not be the right kind of policy for you personally .

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