Most homeowners will have buildings or buildings and contents (B&C) insurance. But do you know what cover you actually have?
Many insurance companies will offer premium based B&C rather than benefit level / the amount of cover you need. What this means is your home and contents are at risk of being under insured.
It is estimated that 4.2m British homes (20%) are underinsured by an average of 25% of their home contents value. (Source ClickPress, 2006)
Being Underinsured Is Bad News
Should you need to make a claim, it's important that you're not under insured. If you had £20,000 of contents insurance cover and after making a claim the insurance assessor find that you contents insurance is not sufficient, the insurance company will not pay the total amount of your claim as you are under insured, and will reduce the amount they will pay out accordingly.
Signature Mortgages are happy to give you a competitive quotation for your buildings and/or contents insurance from companies like Paymentshield Limited who are a major supplier of general insurance products to the mortgage intermediary sector. Our panel of insurers also include some of the biggest names in the insurance industry including Norwich Union, Axa, Abbey, Halifax and Royal Sun Alliance.
With access to benefits like, the first three months cover free through Paymentshield, let Signature Mortgages see if we can save you money and make sure you have the correct amount of cover you need. All Buildings and/or Contents policies will have exclusions. We will discuss this with you before we make a recommendation.
Time for a Home Insurance review? Please feel free to contact Signature Mortgages today for a free no obligation discussion on all Buildings and Contents requirements on 0844 561 7250 or info@signature-mortgages.co.uk Alternatively use the Contact Us link to register your enquiry. We will deal with your enquiry in as flexible way as possible, whether it’s face to face, by telephone, post or e mail.