First Time Buyer Insurances Recommendations?

lknights1987

Hi all,

I have finally found a property to buy ( a 2-bed flat ex-local authority) and now going through the exchange of contracts process with the seller.

I've been looking around for some insurances and guessing I need the below

Contents insurances
Buildings Insurance
Life Insurances
Income Protection

Can anyone recommend any good deals on just now for any of these?

Ideally looking for ones with joint insurance options for myself and partner. Income protection will just be for me.

MovingForwards

Buildings and contents use a comparison site.

Life and income - use a broker.

lknights1987

MovingForwards wrote: »

Buildings and contents use a comparison site.

Life and income - use a broker.

Is that because a broker will have better deals than a comparison site?

Tom99

lknights1987 wrote: »

Hi all,
I have finally found a property to buy ( a 2-bed flat ex-local authority) and now going through the exchange of contracts process with the seller.
I've been looking around for some insurances and guessing I need the below
Contents insurances
Buildings Insurance
Life Insurances
Income Protection
Can anyone recommend any good deals on just now for any of these?
Ideally looking for ones with joint insurance options for myself and partner. Income protection will just be for me.

Building insurance will almost certainly be the landlords responsibility of which they will charge you a percentage.
For the others use a comparison website, confused.com etc. Then check the cashback websites, Quidco Topcashback etc to see if some additional cashback can be had.

ACG

You should not need buildings insurance, that would usually be dealt with by the management company.

Contents insurance, if you want cheap and cheerful then you are probably looking at the comparison sites. Brokers can not usually compete on price. We tend to only be able to compete where you want more thorough products.

Protection (Life insurance, income protection) is usually done through a broker. There are very cheap life insurance companies online but they are usually cheap for a reason - there are typically subtle differences which can make a big difference when making a claim.

Income Protection, is not usually a product you can find online as it is a little more complex and the risk of getting it wrong is quite high.

In the true money saving style, I have my income protection policy with a company who also does car and home insurance. My car insurance premium last year was £550, however because I have an income protection policy with the same company, they knocked 10% of my car insurance premium.

My income protection policy is about £120 for the year, so it has technically only cost me £65 this year. You would not get that by using the cheap and cheerful life insurance companies online. So it can actually be cheaper to get the better policies. Car insurance was within a few quid the same price as the really cheap companies so it was actually a good deal, but I know that is unlikely to happen every year.

Chickenlips

Check the lease and see what you're responsible (for example, it is rare but some will make you responsible for any upgrades you make to the kitchen or bathroom) and insure accordingly.

If you're going to a broker for the others, you may as well include contents cover with them too. Decent brokers have relationships with insurers and may be able to assist on claims. Whilst it isn't right, some insurers will make commercial decisions when considering claims for certain parties.

lknights1987

Hi all, thank you for your info. Can someone recommend a broker, please for life insurance and income protection?

mazibee

lknights1987 wrote: »

Hi all, thank you for your info. Can someone recommend a broker, please for life insurance and income protection?

Sorry for hijacking your thread


Please can some one recomemnd me a broker for life insurance policy( I have type 2 diabetes)


Thanks in advance.