[delboyuk2005uk]

I am moving into my new house later this month, and am wondering whats inurances are the most popular to have

I am looking to get life and criticall illness cover

and

also either income protection or mortgage protection.

what does everyone have and who do you recommend

[Woodywizz]

I have Buildings and Contents (Liverpool Victoria), Life Cover (Scottish Widows,Standard Life and RBS) and Critical Illness (RBS).

[delboyuk2005uk]

cool, no income or mortgage protection for you

[geomuss]

I have insurance for my insurance, just incase my insurance does not do what insurance is supposed to.

you know what insurance is like!

[Woodywizz]

Originally Posted by delboyuk2005uk

cool, no income or mortgage protection for you

I am a Private Bank Manager Delboy, and you would be amazed at the amount of clients I come across who have absolutely no life cover, no illness cover, and certainly no income or mortgage protection. I have clients with £750k+ mortgages who have no life cover, earn circa £10k net per month, and do not care a jot that they are woefully under-insured.

[Steven]

None

*Looks at precious DVDs*

[Squiffy]

I have buildings / contents (Marks & Spencers), mortgage insurance (general accident / aviva), life insurance (lloyds tsb), critical illness (employer), accident insurance (employer), ppp cover (employer) and annual travel insurance (employer).

Personally I don't see the value in income protection insurance. Unless you pay a ridiculous premium, by the time you qualified for payment you'd have another job. And if you were paying the ridiculous premium you would probably be better putting that in savings as a safety net....

[delboyuk2005uk]

yes am looking to get home insurance and life and critical illness they are essential.

anybody know of anyone who do good deals?

I think ill get income or mortgage protection of accident and sickness

[KoThreads]

Home (building and contents) Would not be without either.

No illness, life cover, income cover. (Personel reasons why i don't need/can't have)

No mortgage anymore, thank god.

[jimbobaggins]

If you go to www.quidco.com you can get cashback on lots of insurance.

My house insurance (buildings and contents) ended up at £81 this year after cashback.

Car insurance from Direct Line cost £125 after cashback too. Fully comp no excess as well with protected no claims.

[RMCF]

Is it not compulsory to have life cover if you have a mortgage?

Added to that I have:

Critical Illness, sickness and unemployment
Buildings and contents for my house
Car insurance
Health insurance

The only one I have claimed on over the last 7 years is health. So I hate it when the insurance companies moan about not making money.

Think how many people have insurance out there and never claim.

[dan1979]

Originally Posted by RMCF

Is it not compulsory to have life cover if you have a mortgage?

Pretty sure it's not, the only compulsory insurance is buildings as you won't get a mortgage without it; you could cancel it straight after getting the mortgage though.


I had payment protection insurance but ditched it saving £40 per month, on reflection it was money down the drain because other policies covered the health side of things so I was just paying that purely for an if I lost my job situation which fortunately for me wouldn't cause too much of an issue.

[krish]

just B&C for me ... haven't bothered with pp or critical illness, as I personally see it as a rip off and have funds set aside just in case for a couple of years repayments

[Singh400]

Originally Posted by woodywizz

I have Buildings and Contents (Liverpool Victoria), Life Cover (Scottish Widows,Standard Life and RBS) and Critical Illness (RBS).

Why is it spread across like that? Wouldn't it be easier just to go to one company and get all of thoses? Or did you get offered better deals etc etc.

[unique]

i have buildings and contents, and my job gives me illness and death in service protection, illness covering 90% of pay until i retire

i didn't take out mortgage insurance as i know i can get another job, even if it's getting minimum wage in tesco to pay the bills, and as it only usually covers you for a year, and there is no way i would go for longer than a couple of months without a job, if i didn't get something reasonable in a month or so i'd take any job to get an income and then look for something better

and i don't use credit card insurance as thats another scam, it doesn't automatically kick in and pay your bills, you have to keep paying your bills as normal, and then make a claim from a seperate insurance company. again it normally only lasts a year and you have to be off work for over a month to make a claim

with my av gear, cds, dvds, etc, i wouldn't go without contents insurance. it's only about £10 a month for £50k of cover. thats the price of a chinese takeaway per month, or a couple of cheap bottles of wine. you never know when your neighbors gas boiler might blow up, or they fall asleep smoking

[Steven]

Originally Posted by unique

with my av gear, cds, dvds, etc, i wouldn't go without contents insurance. it's only about £10 a month for £50k of cover. thats the price of a chinese takeaway per month, or a couple of cheap bottles of wine. you never know when your neighbors gas boiler might blow up, or they fall asleep smoking

Ooh, point me in direction? I don't need £50k of cover, but £2k worth of possessions is still a decent amount for this student

[mjn]

Buildings, contents, life, income protection, MA, pet, car....there we go, think thats everything.

[krish]

Originally Posted by Singh400

Why is it spread across like that? Wouldn't it be easier just to go to one company and get all of thoses? Or did you get offered better deals etc etc.

its usually wise to shop around with something like B&C ... just like auto insurance - they'll rip you off when it comes to renewal, so I'm a 'new customer' every year, whether its a fresh quote from the existing insurer, or from a new one, usually with £50 - £120 cashback from using Quidco

They're all different insurances btw, so why would you not choose what's best for you for each one, rather than get all from one place?
Its certainly no easier going with one company for all of them, since its still a separate application for each product.

[pingu]

Originally Posted by delboyuk2005uk

I am moving into my new house later this month, and am wondering whats inurances are the most popular to have

I am looking to get life and criticall illness cover

and

also either income protection or mortgage protection.

what does everyone have and who do you recommend

B&C obviously, then I've just got life cover.

Income/payment protection is hugely profitable for the lenders - generally a complete rip-off. Most don't cover you if you're self-employed or have an existing medical condition that could effect your ability to work. Even then, if you do qualify, they'll only pay out for a certain time length, no more than 6 months to a year usually. I think you'd be better off getting a mortgage that allowed payment holidays and stash the extra away for a rainy day if needed.

Cheers,
pingu.

[pingu]

Originally Posted by krish

they'll rip you off when it comes to renewal, so I'm a 'new customer' every year

QFT.

I bounce between NU and Direct Line every year!

[Decadence]

Mortgage protection is a total waste of money because of the deferred periods and the small print. I have an "all in one" package for my mortgage comprising of Life and Critical Illness insurance for my wife and I plus Income protection for myself. I also have an extra £80k Level Term assurance just to make sure that there is a little in the pot if anything happens to me...for things like my son's education etc.

One thing I don't have though is a Personal Pension, although I am making other savings provisions for when I finish work (if I ever finish work)...

[city fan]

Lets see now.

Buildings and contents with Barclays, been doing some good deals lately.

Car insurance with Quinn again pretty cheap

Critical illness with Norwich Union.

Life Insurance to cover mortgage with Norwich Union

[Duncan G]

Mortgage protection insurance is over rated, use the money towards overpaying your mortgage and clear it faster or save it in a high interest account.

Income protection payments the same as above. Or pay it into your pension.

Critical illness insurance, just look after yourself, eat the right food, keep fit and dont stress. Stress is for others.

Life insurance, ok if you have dependents you care about then get the max you can. Make sure your other half has life insurance as well, how would you cope finacially bringing up kids on your own with one income if you lost your partner?

[city fan]

Originally Posted by Duncan G

Mortgage protection insurance is over rated, use the money towards overpaying your mortgage and clear it faster or save it in a high interest account.

Income protection payments the same as above. Or pay it into your pension.

Critical illness insurance, just look after yourself, eat the right food, keep fit and dont stress. Stress is for others.

Life insurance, ok if you have dependents you care about then get the max you can. Make sure your other half has life insurance as well, how would you cope finacially bringing up kids on your own with one income if you lost your partner?

Agree about income and mortgage protection. Interesting about critical illness cover. Stats say that you're more likely to get a critical illness than die. But if you do take care of yourself, its pretty unlikely.

TBH I've been meaning to look at my life and critical illness cover for some time now. Will do so soon.

[bitofatit]

The bottom line Delboy, as with any insurance, or for that matter any retail purchases, you need to be promiscuous....

i.e. you need to shop around.

Moneysupermarket.com will give you choices for all the usual types of insurance and at the cheapest price - and within that you again choose the policy excesses you would be comfortable with. But when it comes down to it a lot depends on your personal circumstances, attitude to risk and affordability. You can generally insure whatever you want, but there is always a cost benefit to consider.

For example, in terms of critical illness - do you have a family to think about and how much equity do you have in the house? How are you fixed at work, are you self employed, employed in a good job with sick pay and so on - would you be able to sell on your business if S/E and illness made this necessary, what sick pay would you get etc etc. Consider if the worst came to the worst what would happen if you didn't have critical illness cover; “feel the fear” and weigh that against the liklihood and the relative peace of mind you would be happy with. Maybe you have savings or equitey within you house that could b called upon; just how ill or fit do you feel? In the end its a judgement call.

I don't quite see how saying I got pet insurance and insurance against flat feet with Direct line actually helps you - sorry if all of the above is teaching you to suck eggs.
BoaT

[cunny678]

Originally Posted by city fan

Agree about income and mortgage protection. Interesting about critical illness cover. Stats say that you're more likely to get a critical illness than die. But if you do take care of yourself, its pretty unlikely.

TBH I've been meaning to look at my life and critical illness cover for some time now. Will do so soon.

Yep, the stats I have read say that a male aged 30 has a 1 in 3 chance of getting a critical illness before age 65 and women have a 1 in 5 chance. One to the women again....................

Chris

[booyaka]

Originally Posted by woodywizz

I am a Private Bank Manager Delboy, and you would be amazed at the amount of clients I come across who have absolutely no life cover, no illness cover, and certainly no income or mortgage protection. I have clients with £750k+ mortgages who have no life cover, earn circa £10k net per month, and do not care a jot that they are woefully under-insured.

Will totally agree with this one - as an IFA the amount of clients that have no interest in life cover. income protection. critical illness etc to protect their family/children but have massive mortgage/car loans/debt etc etc is amazing. No matter how many times you tell them about it they can't be arsed to deal with it.

Personally i have life cover, critical illness, the obvious house/contents/car etc

[cunny678]

Originally Posted by booyaka

Will totally agree with this one - as an IFA the amount of clients that have no interest in life cover. income protection. critical illness etc to protect their family/children but have massive mortgage/car loans/debt etc etc is amazing. No matter how many times you tell them about it they can't be arsed to deal with it.

Personally i have life cover, critical illness, the obvious house/contents/car etc

I am an IFA as well and totally agree!!

Although I dont arrange much life assurance anymore I have had a few payouts on critical illness policies over the years!!

I have life assuarance, critical illness, PHI, building & Contents, cars, holiday insurance and Key man assuarnce.

Chris

[unique]

Originally Posted by LFC_SL

Ooh, point me in direction? I don't need £50k of cover, but £2k worth of possessions is still a decent amount for this student

i don't have £50k of possessions, but it must be heading that way, if you add up everything in your flat/house, furniture, carpets, kitchen, etc, over all the years. i've seen people on the tv mention how much underinsured people are because they don't properly add up the value of everything as they think about things like tv's and forget about sofas and carpets, bathroom etc which all cost money and need replacing if the house burns down

it's just the policy i got when i first moved in was a set fee for up to £50k of contents, so it saved having to work out how much all my cds and dvds were worth, and when i swapped via confused.com they had a similar deal

i think some places do special cover for students living in shared accomodation etc btw

[Ultima]

Originally Posted by city fan

Stats say that you're more likely to get a critical illness than die.

That's the funniest thing I've heard in ages.

I have.

• Building & Contents with Barclays
• Company Pension with Barclays
• Life Assurance with Barclays
• Some Boiler/plumbing cover with Yorks Water
• Household Emergency cover with Barclays
• Yearly Holiday Insurance with Barclays
• Car Insurance with ?????
• Professional Indemnity Cover

I think that's about it.

Martin