Buildings and Contents Insurance
Most people will be familiar with this type of insurance which covers the cost of damage or loss to your property, contents or valuables. Your mortgage lender will insist your property is insured for the full re-instatement value of your property but it is up to you whether you insure the contents of your home. This is always recommended.
Most lenders will offer you their own in house products but it is almost certain you will be able to find a better deal by shopping around. When taking out this type of policy, the key things to ask yourself are:
- Is the cover for full re-instatement value of the property, as recommended by the Valuer who conducted the survey/valuation on your property?
- Are your contents fully protected?
- Does the cover quoted include Accidental Damage cover?
- How much cover do you have for valuables in your home?
- Do you know what other benefits come with the policy e.g boiler repair, legal expenses?
- What sort of service does the company provide at claim stage? (There is no point in having the cheapest policy possible if you are unsure how reliable the company will be when you need them most).
Dedicated Mortgage Solutions has access to a wide range of insurance companies from across the market and we would be delighted to provide you with advice and quotations for this. If you currently have a policy which you arranged elsewhere, contact us when it is up for renewal to see if we can beat your current deal.
For more information on any type of mortgage please give us a call on 0845 6025541 or complete our online enquiry form.
