Buildings & Contents
You have a choice of Insurance options including:
*Buildings only cover
*Contents only cover
*Buildings & Contents combined
Buildings & Contents Insurance can be taken out by new and existing mortgage borrowers. Contents only cover is also available for tenants.
We can arrange cover on an ‘unlimited sum insured’ basis subject to overall maximums. These are typically Buildings insurance up to a maximum of £300,000 and Contents insurance up to a maximum of £40,000, but can be increased at extra cost.
Subject to the standard policy conditions (and sum insured limits) you are covered if your building and/or contents are damaged by:
*Fire, smoke, explosion, lightning or earthquake
*Riots, civil commotion, labour and political disturbances or strikes
*Malicious damage or vandalism
*Storm or flood
*Impact or collision
*Subsidence or heave
*Escape of water or oil
*Theft or attempted theft
No Claims discounts are available, reducing the level of premium charged. Introductory discounts of 2-years No Claims are normally given to First time Buyers.
For the full policy conditions, including restrictions and exclusions, please always refer to your policy Terms and Conditions booklet, which will included with your certificate of insurance.
ASU – Accident, Sickness & Unemployment
Your mortgage is likely to be the largest and most important financial commitment you will make. With this in mind you need to be certain that you will have enough money to meet your repayments if you lose your job (unemployment) or suffer an accident or sickness (disability).
If you fall behind with your mortgage payments and you are unable to repay the debt, you could end up losing your home. That is why the Council of Mortgage Lenders are now encouraging all mortgage borrowers to consider the advantages of taking out independent mortgage payment protection insurance (MPPI).
We can arrange a Mortgage Payment Protection Insurance plan that can help to protect your mortgage payments for up to 12 - 24 months if you cannot work due to unemployment or suffer an accident or sickness. You can also cover the cost of any life or buildings and contents insurance linked to your home.
Subject to the standard policy conditions your Mortgage Payment Protection insurance provides:
Unemployment and Disability cover for both employed and self-employed applicants. Unemployment only or Disability only cover is also available at a reduced cost
Choice of single cover (in one name only) or split cover (in joint names) if two people want to be covered for part of the benefit
Back to day one cover is available in the event of a claim
Policy Excess periods, in the event of a claim, are also available at a reduced cost
Cover can be transferred from a previous insurance provider
You choose the amount of monthly benefit you need to protect your mortgage payment and related insurance premiums
You can choose to cover an additional 25% of this monthly cover
The maximum total monthly cover limit including the 25% additional benefit is £1,500 or an amount equal to 65% of your normal income, whichever is the lower.
For the full policy conditions, including restrictions and exclusions, please always refer to your policy Terms and Conditions booklet, which will be included with your certificate of insurance.
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