Home Insurance Comparison - Property Insurance For Your Mortgage
The contractual requirement
If you have a mortgage, all lenders will request you have buildings insurance in place, before allowing the completion of your mortgage.
Even if you’ve already bought a property and are simply looking to remortgage, each lender will still request proof that adequate cover is in place before allowing the switch.
The idea is that in the event of serious damage to your property, you don’t fall short. Without cover and the funds to repair the property, it’s likely the value of your property would be seriously diminished, meaning even if you sold the property and tried to repay your mortgage, you could find yourself in a position whereby you still owe the bank money!
Building Insurance is designed to protect both parties.
It is however your choice as to whether or not you get contents cover. Contents cover is essentially cover for anything you can take with you/bought. TV’s, Fridges, Jewellery, Paintings, or that expensive carpet!
The majority of households tend to have both buildings and contents cover, and when bought together, it’s often works out cheaper as well.
For insurance business, we offer products from a choice of insurers, meaning we can recommend a package that’s suited to you!