If you have a mortgage then your lender will usually insist that your property is covered by full buildings insurance. This is to protect themselves, as if your house were completely destroyed they would need to know that you had the means to finance its repair. Also, a homeless borrower will hardly inspire confidence in a company expecting regular mortgage repayments.
Sometimes people assume that they have to stick with the insurance that they have taken out with their mortgage provider. Unless you took advantage of a special mortgage deal where you agreed to buy their home insurance then you are free to use independent insurers for your house protection. You might be encouraged to take out cover through your mortgage broker, as it is simpler for them. However, you are not obliged to do this by law, so it is well worth looking around for the best deal for your needs and making sure that you obtain the right cover at the right price.
George McGonigal George is webmaster of online insurance resourcs for UK homeowners and motorists. We bring under one roof insurers who offer online quotations to allow our visitors to compare rates in the comfort of their own homes. Why not visit Home Insurance Scotland: Competitive insurance quotes online. Home Insurance UK: Competitive insurance quotes online for Great Britain.
Article Source: EzineArticles.com
Unlike motor cover, home insurance is not a legal requirement in the UK. It is, however, a vital precaution against unforeseen bills caused by incidents such as natural disasters or break-ins. It is a. Article on an introduction to uk home insurance by george mcgonigal by George McGonigal
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