Buying a home is exciting, however it is also a massive financial commitment. Mortgage and lifestyle protection products can stop you from worrying about the what-ifs.

In the mortgage sector, protection generally means insurance policies that will help you cope with a life-changing scenario. As an example, if you were to pass away or to suffer a critical illness, a protection product might pay off your mortgage or provide an income if you’re unable to work.

A life insurance policy will provide a lump sum for your surviving partner, children, or another family member if you were to die within the policy term. It could pay the mortgage off so that the partner or other family members don’t need to worry about repaying the loan.

Buildings and Contents Insurance

If you’re worried about what you’d do without your valuable belongings, Scott’s Mortgage Shop can help you protect your home and its contents. Buildings and contents insurance will cover your home in the event of damage caused by extreme weather, fire in the home, water damage or if items in your home have been damaged or stolen in a burglary. Typically, it is a condition of any mortgage offer that you must have buildings insurance in place.

Buildings insurance covers the cost of repairing damage to the structure of your property. This includes the walls, windows and roof as well as permanent fixtures and fittings such as baths, toilets and fitted kitchens. As a general rule, buildings insurance covers the cost of rebuilding your house from the ground up. Contents insurance is for your belongings. Generally it’s what could go in the removal van if you moved house, plus things such as carpets and curtains.