Paymentshield has secured a five-star rating from Defaqto for the sixth year running.

Defaqto, the independent researcher for financial products, provides star ratings for over 60 financial product categories, and awards them between one and five stars, allowing consumers to easily understand the quality of financial products.

Recent research conducted by Paymentshield in partnership with YouGov found that there is a steady increase in awareness of the ratings amongst consumers, with 29% now saying they’re aware, compared to 28% in 2016 and 24% in 2015.

James Watson (pictured), head of sales and marketing at Paymentshield, said: “We’re thrilled to have maintained our position as a five-star insurance provider this year. As a business, we’re continually making improvements to our offering to ensure that we stay on top and are providing the best possible products on the market.

“However, high Defaqto ratings aren’t simply a pat on the back for a job well done. They’re incredibly important to us as not only do they help consumers to determine the integrity of different financial products, but they also allow advisers to demonstrate to their clients that cheaper doesn’t always mean better. It’s vital for consumers to understand that in order to obtain adequate protection, they’re best off speaking to a professional who can talk with confidence about their options and put in place appropriate cover.

“Our customer satisfaction surveys demonstrate our expertise and professionalism and, coupled with our Defaqto track record, should provide advisers with the confidence to offer general insurance products every time they process a mortgage application, safe in the knowledge that our policies deliver exactly what their clients need.”