Today is a very special day at bonkers.ie HQ! We have just launched a brand new product category to help Irish consumers save even more on their household bills.
bonkers.ie customers can now compare and switch Life Insurance, Mortgage Protection Insurance and Serious Illness Cover with us. And we’re even guaranteeing that our quotes will be lower than all others on the market, due to our decision to waive fees and charges.
These insurance products are some of the most confusing and under-switched out there, so we’re very excited to now be helping consumers make the choice that best suits their unique requirements in this notoriously complex category.
Save €190 on Mortgage Protection Insurance
A great way to start lowering your insurance premiums is by switching Mortgage Protection.
The average non-smoking Irish household can save €190 every year by switching this type of insurance with us, which adds up to a saving of €4,180 over the course of a 22-year mortgage (the average remaining term for Irish households that have recently considered switching).
For households with smokers, the annual saving available is a substantial €379, which is €8,338 over 22 years. And who couldn’t do with that extra amount of money to go towards their mortgage repayments?
48% of people have never shopped around
Mortgage Protection Insurance is compulsory for all 740,000 mortgage holders in Ireland and most borrowers simply purchase insurance directly from their lender out of convenience. This is completely understandable of course, considering how complex and stressful the house purchasing process can be.
However, by failing to shop around for cheaper Mortgage Protection Insurance or by not switching, consumers could be left overpaying without even knowing it. In fact, 48% of people have never shopped around for cheaper Mortgage Protection, according to the Competition and Consumer Protection Commission.
So there’s a huge number of homeowners out there who could quickly save money by comparing and switching with us now.
We have selected Low.ie as our fulfilment partner for this new service and, together, we are guaranteeing a marketing-beating quote for our customers. We compare premiums across major Irish insurers such as Aviva, Royal London and Zurich to find the cheapest quote on the market for your specific requirements…and then we make it even cheaper!
How do we do this? Well, we have taken the decision to waive fees and additional charges in order to offer customers the very best quote possible.
Customers can also speak to a team of Qualified Financial Advisers (QFA), who will guide them through their Mortgage Protection Insurance decision.
Six years of savings
Our MD, David Kerr, said of the new service; “For the past six years, bonkers.ie has been on a mission to help Irish households save money by highlighting the substantial benefits of switching. Mortgage Protection Insurance is the sleeping giant of household savings with only a tiny number of Irish consumers taking advantage of the savings available”.
Mr. Kerr continued: “There may be additional savings for men too. Under new EU rules, insurers can no longer quote based on gender, meaning that men with older policies could make additional savings as they have traditionally paid more for Mortgage Protection and Life Insurance due to their shorter life span”.