When you take out a mortgage or buy a property you will need to arrange insurance. Buildings Insurance An insurance policy which pays the cost of repair or rebuilding in the event your property is damaged or destroyed. Most mortgage lenders will require you to take out buildings insurance as a condition of their loan. Contents Insurance Insurance that covers the contents of your home, including electrical goods, carpets, furniture and curtains. Can be arranged separately or can be combined with buildings insurance. Accident, Sickness and Unemployment Insurance (ASU) An insurance policy designed to help you in the event of accident, sickness or redundancy. It will typically pay a percentage of your normal monthly mortgage payment for a specified period usually 12 months. This type of policy does not provide cover for voluntary redundancy or dismissal due to misconduct, or if your injuries are self-inflicted. Life Insurance An insurance policy that pays a lump sum in the event of the death of the policyholder. Individually tailored to cover your specific requirements. Professional Mortgage Services will be happy to offer illustrations for all your insurance requirements. Instant Quotes and cover can be arranged by following this link:
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