Where To Go For Cheap Mortgage Protection
Mortgage payment protection can be a valuable asset to have in your corner if you should become unable to work due to having an accident, becoming unemployed or suffering from a prolonged illness. The cover is designed to pay out for usually around 12 months (with some policies it is 24 months) and will make sure that you can manage to carry on making the mortgage repayments. It can mean the difference between you losing the roof over your head and not having to worry. However when it comes to getting the best deal on the insurance you have to know where to buy, so how can you get cheap mortgage protection? The cheapest mortgage protection premiums can normally be found by shopping around and buying the cover independently. This means don’t be fooled into thinking that just because you got a good deal on your mortgage with your lender, that they will give you the best deal on your mortgage payment protection policy too. AS the media regularly highlights, the majority of high street banks and lenders charge way over the odds when it comes to mortgage payment protection policies.
The only way to get a get cheap quote without compromising in the quality of the product is by shopping around and buying from a standalone policy provider. A standalone provider is someone who is not tied to a particular lender, so they can provide an often better quality policy at a lower price. Not many people are aware that they do have the right to go independently when it comes to taking out mortgage payment protection and as such just take the policy offered at the time of getting the mortgage. This – as ongoing research from various organisations keeps proving - is without a doubt the most expensive way to purchase your policy and there is no way that you are going to get cheap mortgage protection when bought this way.
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