Nationwide Mortgage & Home Insurance Question

Perception

Thanks for all your advice. I would like to point out that Nationwide are not asking us to insure with them. They don't care who we insure with but it is apparently a requirement that the solicitors acting on behalf of the lender are saying that we should insure the building for £500k. I am going to call their solicitor and ask if this is correct.
I will also try direct line for that price!

feisty1

If yr mortgage adviser is independent ask them for some quotes from other insurers/Policies can be rated on post codes also/I would be very concerned if my contents was only insured for 16k!/It is also very true you get what you pay for and many people don't realise this until they go to claim/It sound like you have the rolls royce policy/Ask yor advisor to explain exactly what is included as you may have ie legal cover etc which you may not require

I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice

hethmar

Oh, legal cover - never realised I would ever need it - have been using it for 2 years now in a battle with neighbour from hell. If you can add it on at a reasonable amount, do so.

tyllwyd

I've had home insurance which was unlimited or for one million in the past, and I've only paid between £20-£30 per month, so I don't think the cover of £500K is what is pushing your premiums up.