mortagage protection

sunrise27_2

not sure if this is the right place to post this so feel free to move it if need be
I was just wondering if any of you have taken out mortgage protection again I'm not sure if that is what its called
what I want to do is take out some sort of insurance which would cover my mortgage repayments if either of us were made redundant
can anyone recommend anyone ??

devon_guy

https://www.britishinsurance.co.uk is one of if not the cheapest around I believe.

koexelek

devon_guy wrote: »

www.britishinsurance.co.uk is one of if not the cheapest around I believe.

It's important to look for a reputable company that will pay out in the event of a claim, as well as the cheapest premium.

Unfortunately, in this sector of the market, there are plently of companies willing to take your monthly premiums, but not so keen to pay out in the event of a claim.

Kavanne

koexelek, where can I find info on 'reputable' companies? Is there like a comparison website?

koexelek

I would probably say www.moneysupermarket.com is a good place to look initially.
I'd be inclined to look for the best prices, then check out the companies...

i.e. how long have they been around , what sort of reputation do they have.

I'm not an expert on this sector of the market, but I know Paymentshield have been around for a long time, and have paid out to clients of mine.
I know they put their prices up last week though.

trixie73

i have just changed company for my mppi as it went up drastically without even having a claim. i have gone thro helpucover.co.uk and have got a very good deal. it is underwritten by pinnacale ins. its also got back to day 1 cover

feisty1

helpucover.co.uk

NB."1 of the main instances when you will not be covered for unemployment which occurs within 60 days (FTB's) or 120 days (existing borrowers) of the policy start date"

woozywendy

We are with paymentshield and pay £15.45 a month for £221 cover. There are a few extra benefits as well. We did consider changing but payment do have a good name and saving a few pounds now could cost more in the future if we need to make a claim. Our cover is backdated to day one.

trixie73

yeah i know this but most new policies have this clause in it. i was with paymentshield also and iv just had my renewal and it had gone up again so i decided to shop around

feisty1

trixie73........u would have passed that stage with p/shield tho

trixie73

feisty1 wrote: »

trixie73........u would have passed that stage with p/shield tho

yeah we did and fingers crossed we dont lose our jobs in the next few weeks . but i decided to take the risk as the new policy is half the price for the exact same cover