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Unemployment cover advice please
Phirefly
Posts: 1,605 Forumite
I'm looking into getting unemployment mortgage cover as I work in fashion design & manufacture which is very insecure and the company I work for is hanging on by the skin of its teeth.
I was made redundant a few years ago and while I know its something I can cope with and I'm confident I'll quickly find a new job, now I have a mortgage commitment and feel like I should take extra precautions. My partner who is jointly named on the mortgage has a very secure job but his income would not be able to cover the entire mortgage if I lost mine.
Taking out insurance like this is a completely alien thing to me and I feel like I need some advice. After comparing on moneysupermarket I've found what seems like an excellent policy with Best Insurance that would cost around £6 a month and would pay my share of the mortgage + an extra £100 a month with a 0 day excess. Its this 0 day excess that is important because while I'm confident I'd get another job, I'd like to take my time to find the right role & company.
Does anyone have any advice on the subject that might help?
Many thanks
I was made redundant a few years ago and while I know its something I can cope with and I'm confident I'll quickly find a new job, now I have a mortgage commitment and feel like I should take extra precautions. My partner who is jointly named on the mortgage has a very secure job but his income would not be able to cover the entire mortgage if I lost mine.
Taking out insurance like this is a completely alien thing to me and I feel like I need some advice. After comparing on moneysupermarket I've found what seems like an excellent policy with Best Insurance that would cost around £6 a month and would pay my share of the mortgage + an extra £100 a month with a 0 day excess. Its this 0 day excess that is important because while I'm confident I'd get another job, I'd like to take my time to find the right role & company.
Does anyone have any advice on the subject that might help?
Many thanks
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