So What is Mortgage Payment Protection Insurance?
Mortgage Payment Protection Insurance covers the costs of your mortgage should you lose your job or become critically ill (or both). You can take out joint mortgage protection insurance to cover yourself and your partner, or you can take this cover out yourself. The choice is yours!
Your mortgage is probably one of your largest expenditures, and one of the more important as were you to stop paying it, you may lose your home. Mortgage Payment Protection Insurance ensures you will not lose your home, even if you no longer have a secure income.
What Sort of Mortgage Protection Insurance Quotes Can You Expect?
There are a few types of Mortgage Protection Insurance. The main three cover: critical illness, loss of job and a combination of the two. Of course, the Mortgage Payment Protection Insurance quotes for the combination will be more expensive than the separate.
Of course, the amount you will pay will depend on a range of factors. Such as your age, employment type, and the cost of your mortgage.
Which one you go for will be dependent on your own personal situation. For example, if you have a secure job or a good redundancy package, then you may only need the critical illness insurance.
The Mortgage Genie’s team of experts can work with you to find the best product to suit your needs at the right price. We’ll take into account all the factors affecting your circumstances to ensure you get the best quote.
Mortgage Payment Protection Insurance and COVID-19
When looking for Mortgage Payment Protection Insurance quotes, you should be aware that the current situation has affected mortgage payments. Some insurance providers have added COVID-19 exemptions to their plans. In case COVID-19 hadn’t affected enough already!
Despite this, it is always important to be covered in case of an emergency. Mortgage Payment Protection Insurance can guarantee fast protection in the event of illness or unemployment. Here at Mortgage Genie, we will ensure we get you the best quote whilst taking the current situation into account.
Should I Get Mortgage Protection Insurance?
It is difficult to say how much your quotes will be as they are dependent on your personal circumstances. But despite the fact that it can be tricky to navigate, mortgage insurance is highly recommended. It will keep a roof over your head when things are stressful following an accident or illness, allowing you and your loved ones to focus on getting through a difficult time.
Here at The Mortgage Genie we are big believers that every pound of borrowing is a pound that needs protecting.
Please take a look at our insurance quote generator in order to get your quick personalised quote!
We can also help with other insurance needs, please visit our insurance section to learn more.