Building insurance is usually a requirement for mortgage products but it is not necessary to purchase this from your mortgage provider. Various providers and price comparison websites offer a wide range of products with a variety of terms.
However, searching online may not be the best way to find the right product. Working with professionals who understand the terms and the small print and can explain them to you may be a simpler solution – that is what we do very well at MPIS. Building insurance is frequently sold with contents insurance, hence the term ‘building and contents insurance’ however, they can be sold individually.
Understanding the scope of each policy is important but can be confusing. Having someone to explain the benefits and drawbacks of individual products and talk through what would and wouldn’t be covered in the event of a claim could prove invaluable in helping you make the right choice.
