Should I need both these insurances?

BrassicBroke

Hello

I have a mortgage with Britannia Building Society (now the Co-Op) since 2003. I also have my buildings insurance with them and pay Mortgage Payment Protection through them (underwritten by AXA Insurance) for Unemployment, Accident and Illness, although I get full sick pay for 6 months where I work anyway.

When I was first arranging my mortgage, they also advised I take out a Critical Illness and Critical Mortgage and suggested LV Life, which I did.

In 2012 I borrowed another £6000 for home improvements. This was done over the phone. They advised that I get more insurance though I would have presumed they were already aware of my paying cover with both themselves for the MPPI (which forms part of my Direct Debit to them along with the mortgage repayments and Buildings insurance). If they'd asked I would certainly have told them about my cover with LV Life but I can't remember now. At the time my father had just died and I was renovating the house whilst sorting out his and just wanted to sort out the money and had other things going on to really pay much heed to what I may or may not need cover wise, and I just trusted them that what they had advised I needed.

I thought that maybe the extra insurance cover - this time they suggested Friends Life (now Aviva) - was for the £6000 extra I was borrowing, but I'm actually paying more out for this cover than I am for the LV Life cover. The Aviva policy covers: Life or Earlier Critical Illness and Payment Protection Cover (which I thought I was already getting with the MPPI?)

I'm very confused - I'm wondering if I'm paying out twice for similar things, and also wondering why Britannia didn't ask or check who I had insurance with in 2012 and just advise that I notify them of the extra money borrowed.

Do I have any recourse with Britannia, or do I actually need all this insurance?

dunstonh

You haven't given enough personal details to say whether the insurances you have are needed or not. However, they are the types you normally see people take out with a mortgage. So, in that respect, there doesn't appear to be any issues. As for amounts, we would need more detail.

BrassicBroke

dunstonh wrote: »

You haven't given enough personal details to say whether the insurances you have are needed or not. However, they are the types you normally see people take out with a mortgage. So, in that respect, there doesn't appear to be any issues. As for amounts, we would need more detail.

What further information would be required?