Find out what sets apart a mutual insurance company from the rest, what benefits we offer you and why you are always the top priority.
Since the financial crisis of 2007, the trustworthiness and transparency of financial services are increasingly important to people. In a 2017 study by FSCS, transparency was classed ‘important’ to 90% of the people questioned, indicating that most people today want their financial institution to deliver more than an impersonal service driven by money-making.
Using a mutual company to provide your insurance often means reduced rates and better value, excellent customer service and an insurance firm that shares your values.
But how does mutual insurance work?
UIA Mutual Insurance explains the benefits of a mutual company.
What are the benefits of mutual insurance?
- Owned by you, run for you
A mutual insurance company is owned by its policyholders, not by external shareholders. They work only for the benefit of their policyholders.
Mutual insurance companies reward you with competitively priced policies because profits are not being shared between external shareholders. They also reinvest their profits into the company so they can keep future insurance premiums competitive and improve the service you receive.
With a mutual insurance company, you can be sure your values are shared by the company and staff. This means a people-focused service where the staff really listen and your number one concerns are equally shared by the company.
Mutual companies have to remain financially transparent as a result of being owned by policyholders, so you always know how your money is being used.
Usdaw works with and shares the values of UIA Mutual Insurance. Click here to get a quote on your home insurance, or find out more information on the UIA website.
For a limited time, if you buy a new combined buildings and contents policy with UIA online, you’ll receive a £50 Love2shop reward, which you can spend online at a wide choice of retailers and restaurants.
For more information on financial mutual companies and their benefits, see the Association of Financial Mutuals’ website: www.financialmutuals.org