The insurance industry provides protection against financial losses resulting from a variety of hazards. By purchasing insurance policies, individuals and businesses can receive reimbursement for losses due to car accidents, theft of property, and fire and storm damage; medical expenses; and loss of income due to disability or death.
At Professional Mortgage Services we have a duty of care to ensure that you are aware of the financial risks that are associated with taking out a mortgage and we will discuss these with you. We will offer advice and when instructed arrange suitable cover for you where it is appropriate having taken account of your individual needs.
A house is more than bricks and mortar - it's your home. That is why here at Professional Mortgage Services we offer you the chance to get Building Insurance.
Building Insurance is aimed at situations such as your property is destroyed by fire, floods or subsidence (although you will need to check if you live on a flood plain, for example). Damage to fixed fittings such as baths and kitchens are often included, as well as sheds, greenhouses and garages.
This cover is designed to cover the cost of damage to the structure of your property, including roof, walls, ceilings, floors, doors, windows and outdoor structures such as garages and fences. You will normally be required to take out this type of insurance to protect the investment made by the lender who has provided you with a mortgage on the property.
Your home and its contents are one of the biggest financial investments you'll ever make. With that in mind, it really is essential that you insure your home and its contents in case the worst should happen.
Contents insurance will cover the cost of the possessions in your home should they be damaged or destroyed. A contents insurance policy will generally offer protection against the same perils as buildings insurance. Most house contents insurance in the UK provides for the loss or damage to the possessions in your home from fire, theft or flooding. Many policies also include accidental breakage. The more obvious items covered by home contents insurance include furniture, household goods and electrical equipment but items such as jewellery, bicycles and even the contents of your freezer can also be included up to stated limits.
The most important thing you need to consider when calculating how much contents insurance you need, is how much the contents of your home are actually worth. It's likely that your contents are worth more than you think - you should go through every room in your house and note each item and its worth at today's prices. The figure will usually come to well over £30,000 on average.