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Structural deficit

Paying too much in tax and insurance? Emma Burstall shows it's a matter of understanding the system and shopping around.

Are you paying too much for your buildings insurance? Folkestone-based Orion Personal Insurances, a subsidiary of the Guardian Royal Exchange group, which has had a relationship with the National Association of Schoolmasters Union of Women Teachers for 30 years, says buildings insurance is often taken out with the mortgage lender.

However, Orion spokesman Gary Ward says: "Traditionally the rates for insurance bought via a mortgage lender have been higher than if you were to buy insurance separately. People don't understand that they have a choice not to get their buildings insurance at the same time."

Teachers, it seems, are a good bet when it comes to insurance. "As a group teachers tend to be very responsible people. We would be interested in hearing from anyone outside the NASUWT too."

The company is currently offering NASUWT members Pounds 25 to help their mortgage lenders administer the transfer of their insurance to Orion when it is time to renew their current policy. In most cases this sum, which is similar to the carrot that other insurers offer, will cover any administration charges raised by the mortgage lender.

For further information contact Orion on: 01303 850303.

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