The main two forms of General Insurance relevant to mortgages are:
Buildings & Contents
Covers your home against the risk, of fire , theft and natural disaster.
Mortgage Payment Protection
The object of mortgage payment protection insurance (MPPI) is to protect a client against
The only one of these that is mandatory is Buildings Insurance.
Gam is able to research a vast number of providers and ensure a quality product is chosen to suit the needs of the customer.
A lot of talk is made these days about getting the cheapest possible cover, I certainly agree that we must always ensure we are getting value for money, but its important we do not take a product that provides really poor cover.
In a world where burglary is common place, the last thing I want is for a customer to feel he has had a stressful experience trying to get the value of his lost goods back.
Mortgage Payment Protection does not suit everyone, but it should always be considered.
Job losses are still on the increase, and the peace of mind obtained by knowing that your mortgage will be paid for the first 12 months even if you do not get an alternative job, is very valuable.
The cost is on average £20/mth. Of course this is relevant to the size of the mortgage.
It has become almost impossible to get MPPI when you already have a mortgage, it has to be taken out at the same time as the mortgage.
One of the benefits of using a mortgage broker, especially one who does not charge a fee, is that we can advise and take care of all these areas of need for you.
