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Insurance

INSURANCE

Insurance is one of those things we don’t appreciate until we need it. Protecting your investment demands insurance.  You need it regardless of the approach to financing. We will work with you to establish what’s important, agree on a sensible budget and then recommend the most suitable options to you.

When taking a mortgage, there is only ONE compulsory insurance that you will need – Buildings Insurance. To finance a property, all lenders will insist that the property is fully insured against fire and damage but you are not restricted to using the lender or ourselves for this type of cover.

All other insurances are discretionary and as you would expect we can provide advice in this area. Insurances that you may wish to consider are:

•   Home insurance such as Buildings and Contents cover

•   Mortgage protection so that the mortgage is repaid should you die prematurely

•   Family protection, so make sure your loved ones are protected financially should anything happen to you

•   Critical illness cover, which generally pays a lump should you be diagnosed with a specific condition. The most common conditions that insurers pay out on are heart attack, cancer, stroke and Total Permanent Disability

•   Income protection to cover your income if you are unable to work due to illness or accident*

If you would like us to help with any of these we will first assess your situation, then discuss which concerns are of the highest concern to you, and then make a suitable recommendation to you.

* Payment Protection Insurance is optional.  There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income