Call Us
Got yourself a new mortgage? What protection do you need?
Posted on Aug 08, 2022
There are many products that you can consider when taking a new mortgage, and not all will be appropriate or necessary, so it is important to tailor the best cover to your personal circumstances. Here is a summary of what options you should consider and why some are not relevant:
- Mortgage Life Insurance:
This particular type of insurance is taken out for the term of the mortgage and designed to pay it off in the event of death. This is very important if you have a joint mortgage or dependants that you will leave behind.
- Critical illness cover:
You can incorporate Critical Illness cover into your Mortgage Life Insurance policy, which means that if you are diagnosed with a specific illness listed under the policy, you will also receive a pay-out. Most insurance policies cover around 40 critical illnesses, and these will include things such as cancer, heart attack and stroke. This does make the policy more costly, but it is worth exploring if you are looking into Life Insurance.
- Accident and Sickness insurance:
This is a type of policy that can protect your monthly mortgage payments in the event of you being unable to work due to an illness or injury. You can opt for a budget policy that will pay for 12 or 24 months if you are off work or for something more comprehensive that can pay until the end of the mortgage term, in case you cannot return to work. This is a crucial form of insurance for those with limited sick pay or for the self-employed. Things you should consider when deciding if this is the right type of cover for you include:
- What savings do you have in place?
- Are you the only one earning in the home?
- What sick pay are you entitled to from work?
- Are you self-employed?
Quite simply it’s great to get advice when you take out a new mortgage. Get a quote or talk to a specialist advisor at our group partner Assured Futures who will help you navigate and advise on the right product for your circumstances. Need a chat? Then call us on 02920 626 226 or email insurance@watkindavies.com
Recent News
Search News
Categories
What Our Customers Say
Mal Elwood
"Very efficient, always friendly and helpful. I have used Watkin Davies for years, and they have always been competitive. I received great support recently when I had to make a claim, so I'd highly recommend them."
A Ali
"I was very impressed with the quality of the service - it was outstanding. The advisor, Ms Spear went above and beyond to give me the best driving insurance policy. The policy I have received is exactly what I was looking for. Thank you so much Ms Spear!"
Adam Kearns
"I've used Instructorcover Plus for my driving instructor insurance for a number of years. Not only are prices competitive, even at renewal, but customer service is fantastic. Call operators are always cheerful and incredibly helpful. Everything is always sorted in a single call, saving valuable time. Highly recommend."
Macca Ginger
"Absolutely superb service from the team, particularly Natalie. Very easy and simple process"
steve rudgley
"As aways very efficient"
Barrie P
"I have used InstructorcoverPlus for my driving tuition insurance for a number of years. Their prices are always competitive and everyone I speak to is friendly and helpful."
Kathryn Parkes
"Ceri was very helpful and knowledgeable on the phone"
John Gabriel
"Karrie Brewer was so helpful today, especially as one insurance company would not quote, so had to shop around for us, many thanks"
Sulman Khosty
"Kelly is amazing. Very helpful and friendly, did a great job today with helping me out to get insured. Amazing service!"
Andy Amadi
"Great service. Got my first driving instructor insurance with this firm. Price was competitive and customer service provided by Jane was great. I will definitely recommend the service."
Lynne Turner
"Team were very helpful when it came time to renew my policy, taking the time to check and make any amendments needed. Would highly recommend."
Nikki Mellin
"5 stars!"
Pam Durbin
"Excellent service from Watkin Davies as per usual. I love the way they do all the hard work researching best quotes and provide you with your options. All the staff are very friendly and professional, I have to highlight Ceri who always does a fantastic job for me and my family."
Steve P
"Really helpful and efficient customer service, friendly and knowledgeable too. I would highly recommend InstructorcoverPlus."
Ricki Dango
"I m a returning customer and what a wonderful experience. Emma is new to her role but she was very helpful and polite throughout. She got the quote done very quickly and managed to beat all my other quotations. I therefore didn't have to waste any more time. Further she offered me three instalments at 0% which is helpful in this current economic climate. The paperwork was sent straight away. Highly recommended."
Gary Williams
"Once again, could not have been more helpful! Still a pleasure to speak to a 'real person' who knew what they were talking about!"