How to get the best deal on your mortgage protection policy
- 15TH AUGUST 2007
Everyone wants to get the best possible deal whenever they buy anything. After all, if you can get a good quality product for a lot less then doesn’t it make sense to shop around and go for the best deal? When it comes to getting the best deal on your mortgage protection policy then the best place to get a quote is with online specialist payment protection provider British Insurance.
A mortgage protection policy is taken out to ensure that if the worst should happen and you were to lose your income then a policy will start to pay out a monthly fixed sum, enabling you to carry on meeting your mortgage repayments and associated costs. A good policy such as those British Insurance sell will pay out for up to 12 months, which means that you get a fixed monthly income to make sure that you keep your roof over your head.
Mortgage payment protection insurance does vary depending on where you choose to go for it. Amazingly, the majority of people don’t even realise they have a choice when it comes to taking out the insurance and this is something that British Insurance Managing Director, Simon Burgess, is always warning consumers about.
He says: “A mortgage protection policy taken out alongside a mortgage from the high street lender will cost you up to 40% more than had you chosen to go to standalone provider. It is a disgrace how the big lenders slap a heavy profit on to the cost of the mortgage insurance cover, taking advantage of a homeowners’ need to protect their greatest asset.”
He advises consumers to shop around for their cover, comparing not only premiums but terms and conditions too. He adds: “When it comes down to getting the best deal on your mortgage protection policy remember the three golden rules. Never buy from the high street lender, always shop around, and then finally, check that are eligible to claim. Do these three things and you won’t go far wrong”.
