Using the services of an experienced professional rather than going online to the numerous comparison sites can make sure that you have the cover you need.
There are two types of household insurance – buildings and contents. They are separate entities but can normally be bought together, usually with a discount.
Buildings Insurance
This type of protection covers the cost of structural property repair should it become damaged or destroyed by fire, flood or similar.
If you own your own home, you’re responsible for sorting out any damage caused to the building such as bricks and mortar and some fixed items like bathroom suites.
If you have a mortgage, your mortgage provider will insist that you have buildings insurance in place for the length of your mortgage.
You can buy this insurance from any provider, not just your mortgage provider.
CONTENTS INSURANCE
Having the structure of your property covered, it’s important to protect everything inside also. Content insurance can insure your possessions inside and outside your home.
Accident, sickness and Unemployment cover
Accident, Sickness, & Unemployment cover (ASU) is similar to income protection, however this insurance is underwritten at point of claim rather than point of sale. It is designed to protect your income in the event of you being unable to work through accident or sickness.
Whilst income protection can have a term until retirement, an accident, sickness and redundancy policy has a term between 12 and 24 months and is generally set up to protect your monthly mortgage payments and associated products.
OTHER INSURANCE
PARKVIEW MORTGAGES ACT AS A CREDIT BROKER NOT A LENDER.