Lloyds TSB home insurance helps its redundant customers

Tue, 21 Apr 2009

Homeowners, who are made redundant during the current economic downturn, will be offered some respite when they have to pay their home insurance premiums.

Lloyds TSB has assured customers experiencing financial hardship that it will waive their payments for up to six months in order to support them through a difficult time. Mike Canniffe, director of Lloyds Retail Banking Insurance, said: "Despite feeling more concerned about the security of their homes, many are having to seriously consider cutting back on household essentials, such as insurance, just to make ends meet."

However, following the news that 15 per cent of those asked in a recent poll admitted to having already cancelled their policy, Lloyds has pledged to help homeowners caught in a 'Catch 22' situation such as this.

Lloyds recently conducted a study which revealed that one in ten people who have never experienced a recession before, are optimistic that the economy will pick up by the end of the year.
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