Home Insurance

Your home is important, so you need to insure it. After all it’s more than just a building, it’s where you live most of your live, share experiences and priceless memories with family. It’s also likely to be your most valuable asset.

It’s good to shop around for the right home insurance product for your home, but it’s important to note that Price Comparison websites have the following hidden dangers:

The quality of the policy is ignored in favour of price

  • This ‘race to the bottom’ means they are ‘stripped out’ and can offer poor value for money, and may not pay-out should you need to make a claim.
  • The policies often exclude ‘Accidental Damage’ cover or ‘Personal Possessions’.
  • They only give a brief overview of what you are covered for, and there may be hidden exclusions and excesses.
  • Every insurer that provides a quote leaves a footprint (often 20+ searches) on your credit file, which can adversely affect your credit score.

At Mortgage Advice Brokerage, we can give you peace of mind that your home and all its contents are fully protected.  We shop around from over 40 insurers for home insurance, we could use more, but have made the decision that we would only recommend providers who we would be comfortable insuring our own homes with.

Types of insurance available

Level Terms Assurance:

Level Term Assurance pays a predetermined lump sum in the event of death during the duration of the policy. Set up for a specific amount at the outset that will remain the same throughout the duration of the policy – hence the name level.

Decreasing Term Assurance:

Decreasing Term Assurance is similar to Level Term Assurance, but the benefit gradually decreases over the term of the policy. These policies are designed as cover for a repayment mortgage, or other loans where the amount of capital outstanding also decreases over time. Because the benefit reduces over time, the premiums are kept very low.

Family Income Benefit:

Family Income Benefit is the hidden gem of insurance that not many people are aware of.  As the name suggests they are most suitable for people who have children.

Instead of paying a lump sum upon death, it will pay a regular monthly tax-free income in the event of death to your dependents up until the end of the term of the policy. We would normally structure it to coincide with your youngest child reaching an age where they should be self-sufficient. 

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