Home Insurance

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Getting a good home insurance policy is crucial not only because your mortgage provider will require it but should the worse happen you need to know you are covered.

Whenever you take out a mortgage, a home insurance quote and policy will be required by your lender! This provides adequate reassurance to your lender as they want to be certain that if anything untoward happens they will be able to recover the money they have lent you.

Cost

The cost of home insurance will vary from company to company, so it's worth shopping around for the best possible deal. It also varies for things like flood plains, coastal erosion etc. So choose your home carefully.

The home insurance quote policies offered by mortgage lenders are usually fairly expensive, so unless your lender insists that you buy insurance from a certain company you should consider all your options.

Life Insurance

Your lender may also ask you to take out life insurance that equals the value of your home, which means that if you die the loan will be paid back by your life insurance policy. It is important that you retain all paperwork related to your life insurance policy, to prove that it actually exists.

If you have an ordinary repayment mortgage the lender may insist that you take out a mortgage protection policy to cover the amount of the loan. This type of policy ensures that the outstanding balance of a mortgage will be repaid if the borrower dies.

Finally, it's a good idea to take out contents insurance for your home. Make sure that the policy will cover all your possessions while you are in the process of moving and remember to let the insurance company know your new address so that they can transfer the policy.

The information included in this article is based on the law applying on 1 January 2005. Please seek your own legal advice for more information regarding your rights.

 

Useful Websites

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  • Confused.com Home Insurance
    Making sure your home is covered for every eventuality, home or house insurance should be a comprehensive affair. Get quotes and compare cover with Confused.com - the specialists.
  • Home And Household Insurance
    Home inurance, including all buildings and contents.
  • uSwitch.com
    uSwitch.com helps customers compare prices and switch services on a wide range of services including gas, electricity, home phone, loans, insurance and broadband.
  • Leisure Days Insurance
    Specialist static caravan insurance and park home insurance in the UK
  • Home Quote Direct
    Home quote direct offers home insurance and contents insurance, we offer an onlie quote option to save you money on your home insurance
  • Quotezone
    Compare Quotes for Car Insurance, Home Insurance or Van Insurance - Up to 20 quotes from over 50 Insurers in just 2 minutes.
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Further Reading

  • Online Guide To Home Insurance

    Why not get the best home insurance quotes online after reading our comprehensive, but simple, guide. Making sure you are covered is not something you should take lightly.
  • Home Insurance

    Get cheap home insurance qoutes now and ensure you are well covered. Compare quotes from a range of providers, get the best deals in the marketplace.
  • Comparing Breakdown Cover Quotes

    Want to get the best deal on your breakdown cover. Comparison is the simplest way but read our guide to know what to look out for.
  • Help With Consumer Credit

    Do you need help with explaining what consumer credit is actually all about? Our consumer guides will help you understand and also give you some help where it's needed with your reports and checks.
  • Cheap Home Insurance

    Get cheap home insurance for content and building by following some simple rules and shopping around. Save money in this handy guide from Lifestyle.co.uk.

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