Insurance Options
Buying a new home can be an exciting time with lots to arrange and organise - there's a lot of planning involved and not to mention a lot of expenses too.
Whilst it can be tempting to save money for furniture, new homewares or perhaps to purchase and insure that super-large, super-smart flat-screen TV - are you planning to insure your largest purchase to date?
Whilst your income and health are stable, thoughts of insurance products and protection maybe not be at the forefront of your mind or high up on your list of priorities – however, having adequate insurances in place is one of the most important things you can do to protect yourself, your home and family should the worst happen.
How would you meet your monthly mortgage payments if you were to have an accident or become ill?
Whilst absence from work due to short-term illnesses may be covered by your employer, Statutory Sick Pay or from your own savings, longer-term illnesses require a more robust approach to ensure you can meet your mortgage payment requirements.
In the event of your death, could your family maintain the mortgage payments?
No one wants to think about the worse case scenario, however taking a proactive approach with your insurances can take the financial pressure off should the worst happen.
We offer a range of insurance solutions to protect against death, short and long term illnesses, as well as cover for the property itself.
We can tailor the right solutions for your needs and budget and source cover for a number of existing conditions.
Have you tried our Financial Risk Assessment Tool?
Financial risk is how likely you are to experience life altering setbacks that would otherwise have a significant financial impact.
Important information
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £395.
Life Insurance
Life Insurance is usually a very affordable, yet important cover. Being left with a large debt at the same time as losing someone can be devastating.
There are many ways to ensure that your family are not left in a vulnerable position and Advisors at Evolve Financial Solutions will be able to discuss and recommend the appropriate solution that fits your budget and needs. Life Insurance can be arranged to ensure the mortgage is repaid in the event of death or to replace an income.
Critical Illness
This is an area that we are very passionate about, as we have all had members of our families that have been touched by one of these illnesses - with this in mind, we have access to a range of products to meet your needs, requirements and budget.
You may be aware that not all insurance policies are written the same way - each company offers different levels of cover, with various limits and different exclusions - meaning that one can differ greatly from the next.
Income Protection Insurance
As part of our standard processes, we'll always explore Income Protection products with you as part of our FEE FREE service. Time off work through illness or accident can leave you with a financial headache in the short or long term, therefore, we want to ensure that you have all the options available to you. We firstly look at what cover you may be able to claim through your employer in the event of illness or accidents - as it may well be that your employers offers you a comprehensive package and additional cover isn't required at this time, but we would review this regularly as situations may change.
Building and Contents Insurance
When taking out a mortgage the lender will make it a condition that you have Buildings Insurance in place for exchange of contracts (for new build property purchases, you'll need buildings insurance in place at completion rather than exchange). Most customers choose to protect their contents as part of the same policy.
Buildings Insurance:
- Cover for the structure of the property and fixtures and fittings such as walls, foundations and roof.
- Cover for fire, flood, storm damage etc.
- Additional cover can be added e.g Accidental Damage, Legal Protection, Home Emergency Cover.
Contents Insurance:
- Cover for contents inside the property including carpets, furniture and clothing
- Cover for fire or flood, storm damage etc.
- Additional cover can be added e.g Accidental Damage, Personal Possessions away from the home, pedal cycles, mobile phones
Our expert Home Insurance Team use a large panel of 5 star Defaqto rated insurers to ensuring you have excellent cover in place. We can source more complex policies too from specialist providers if required.