Insurances etc for home owners.

biting_the_bullet

We have had our offer accepted on a 4 bed detached house, luckily securing Nationwide's 10 year fixed rate mortgage at 5.18% the day before is due to be pulled today.
Its a big mortgage, and some severe belt tightening is required. It works out at 4 x our joint income, so slightly over the standard 3.5 x.
With our money going to be stretched, i'm looking for information on the best deals for all the insurances required for the mortgage/home.

Be grateful for the information.

BTB.

tonydee

Nationwide are generally pretty good for insurance too. However join https://www.quidco.com and get quotes from the insurance companies listed as most give a nice cashback once complete.

I've even heard stories of people actually being paid to have insurance on their homes (once the cashback has been received) !!

dunstonh

buildings insurance, contents insurance (usually combined)
life cover (if required)
accident sickness and unemployment (if required)
permanent health insurance (if required)

ASU and PHI often overlap and some will choose one over the other although some will go with both with interlinking deferment periods.

Who is best will vary as different postcodes, type of house, no claims position, occupation will effect home insurance pricing.

Life assurance will be priced on age, amount, term, smoker status, occupation. A company who is cheapest for one person could be most expensive for another.

If you have used a whole of market mortgage adviser, they should have access to deals which will give 3 months free home insurance (possibly upto 6 months with first time buyer) and same with ASU. That could help the intial period.