Home Insurance
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Independent Home Insurance Advice
Compare Home Insurance at NI Mortgages in Newtownards
The emergence of Price Comparison Websites (PCWs) has had a huge impact on the home insurance industry but not all of it is good! The home insurance industry has become fixated on price and consumers are attracted by the convenience of PCWs, without questioning value for money.
For example, cheaper insurance doesn’t mean that the insurance companies are lowering their prices, they still want to maximise their profits and as a result they re-write their policy conditions. It seems the phrase ‘you get what you pay for’ is more apt than ever.
This means that advice from an
insurance professional is more important than ever and here at NI Mortgages we are your local experts in all things insurance related as well as mortgages.
We will highlight some of the shortcuts that you can fall foul of when using these types of websites:
Risky Assumptions
Insurers often “assume” answers to certain questions on the application form such as whether the property is occupied during the day or whether there are smokers living at the property. If these answers are not correct for you then it could invalidate your cover and leave you “high and dry” when you come to make a claim.
Not always Like-for-Like!
Many consumers think that home insurance is all the same and therefore the products they find on PCWs are all pretty much identical other than the price, but they can vary enormously. The website may be well ‘polished’ and looks nice but it doesn’t give you much in the way of ‘real’ information on what the policy does, and more importantly, doesn’t cover you for.
It’s not always about the Optional Extras
Choosing all the optional extras doesn’t always make it a good policy; many insurers strip products down to their bare essentials to make it price competitive. Basic things that should be included in a standard policy like ‘trace & access cover’ ‘theft of keys cover’ or ‘repairs guaranteed’ are not included in many of these types of policies.
Check the Excess
A growing number of providers have introduced compulsory excesses on their home insurance products to make the up-front price look more appealing. In addition customers can opt for a voluntary excess but the problem is that you could end up with a “double excess” to pay which would give you a very large excess to pay should you need to make a claim.
Mortgages
NI Mortgages are proud to offer the best mortgage advice specifically for Northern Ireland customers. Speak to a mortgage advisor who is based in Northern Ireland, not in a UK call centre, who knows the local mortgage market inside and out.
Equity Release Mortgages
If you are 55 or over and you own your own home, you could qualify for an equity release plan and unlock a lump sum from your property to help you enjoy the retirement you want.
Co-Ownership Mortgages
Co-ownership allows candidates to purchase part of the property, usually with a mortgage, with the balance of the purchase money being provided by the Co-ownership scheme. The starting point is normally 50/50 but other percentages are available and you can increase your share in your home as your finances allow.
Contact NI Mortgages to Compare Home Insurance
With the help of our insurance professionals here in Newtownards, NI Mortgages are your local experts for all things insurance related. Call our team or pop into our office today for more information and advice.