Is Keeping Mortgage Protection with Your Mortgage Provider the Smartest Choice?

In Ireland, many homeowners take out mortgage protection with their mortgage provider. But is this really the best option? When we asked our customers why they chose this route, familiar reasons kept coming up. Life is busy. Between work, children, sports, and other commitments, shopping for insurance often takes a backseat. The easiest option is to stick with the bank’s offering. But convenience doesn’t always mean better protection or cost-effective. Over time, staying with your mortgage provider for protection may cost more than you think.

Why an Insurance Broker Works for You

A mortgage or insurance broker works in your best interest. Unlike a bank, which typically offers a single provider’s policy, a broker searches the market for the best protection at the best price. They look beyond just securing the mortgage. They find policies that protect your home, your finances, and your future. Brokers look at protecting your investment and not the providers. 

The Trust Factor: Mortgage Providers vs. Insurance Brokers

Many Irish homeowners stay with their mortgage bank because of trust. After spending weeks or months working with them, it feels natural to keep everything under one roof. Some believe the bank has their best interests at heart. But in most cases, banks outsource mortgage protection to external insurers for a commission. If a claim arises, you deal with a third party, not your bank. This can add unnecessary stress at a difficult time.

Do You Have to Take Mortgage Protection from Your Lender?

A common misconception is that mortgage protection must be taken with the lending bank. This is not true. Homeowners in Ireland have the right to shop around. At Dolmen Insurance, our mortgage protection experts search the entire market. We tailor policies to fit individual needs, not just standard one-size-fits-all plans.

Is Mortgage Protection from Your Bank Really Cheaper?

Some believe mortgage protection from their lender saves money. One customer shared their experience:

“I thought my bank’s mortgage protection was the cheapest option since it was bundled with my mortgage. But when the premium increased again, I called Dolmen Insurance. They found me the same cover for less than I originally paid two years ago.”

Shopping around for insurance can lead to better coverage and lower premiums. At Dolmen, we compare quotes from various providers to secure the best deal for our clients. Many exclusive options aren’t available on comparison sites, making it even more worthwhile to consult an expert.

Talk to Dolmen Insurance Today

A mortgage broker is on your side when you need it most. Don’t settle for convenience over long-term savings and protection. Let us find the right mortgage protection policy for you.