Call us
01242 697821

Blogs

Keep up to date with the latest news and our guides on all things mortgages. 

Top five insurance policies to take out

Part of our ‘stay safe and stay smart’ campaign naturally includes insurance. With the cost of living skyrocketing, we look at which insurance you really need, plus how to save money without facing expensive premiums.

Income Protection

Unfortunately, many people often avoid this one. The thought is very scary. Imagine losing your income due to illness or injury. However, if you get caught out, you could be in a serious position. Instead, choose a policy that provides enough coverage to maintain your current lifestyle even if you can no longer work.

While income protection insurance and employers’ liability insurance both pay for disabilities, income protection is not limited to disabilities or injuries at work.

Life Insurance

Life insurance protects your loved ones who are financially dependent on you. If your parents, spouse, children, or other loved ones would face financial hardship if you died, consider how much you earn each year (and how many years you plan to remain employed). Then purchase a policy to replace that income in the event of your untimely demise. Factor in the cost of burial too, as unexpected costs can burden many families.

Private Medical Insurance

Despite having the incredible NHS in the UK, health insurance should be high on your list. Often, policies can collaborate with some services available on the NHS, saving you money. This could be due to long wait times, the unavailability of specialist doctors, or the kind of hospital care you require, such as a private room. Having five-star service is particularly important when searching for a diagnosis or if you are unwell.

Don’t wait until you need it to take out a policy. Many insurances have a waiting period, and you may not be able to get insurance if you have a pre-existing condition.

Homeowner's Insurance or Renter’s Insurance

We don’t need to tell you this twice, but imagine having to pay to replace all your furniture, appliances, or clothes. The cost would be much higher than taking out homeowner's insurance or renter’s insurance! Equally, can you afford to rebuild your house while still paying the mortgage? It’s a no-brainer.

Car Insurance

Last but not least! Car insurance is a must in the UK. In fact, it’s illegal to drive without it. However, coverage can vary depending on your policy, so ensure you are completely protected.

How to save money when buying insurance:

  1. Check that the policy covers what you need and doesn’t include unnecessary items that increase the price. Check exclusions and excess amounts.
  2. Always answer the insurer’s questions honestly; otherwise, you may waste time buying cover.
  3. Before auto-renewing, check for a better, more competitive deal elsewhere.
  4. Renew as early as possible to get the best price.
  5. If possible, consider paying annually; it can be more expensive to pay your premium monthly by direct debit.
  6. If your needs are complex, find an insurance broker through the British Insurance Brokers’ Association or consult your financial adviser.
  7. Instead of buying expensive mobile or appliance cover, consider self-insuring: Save the money it would cost to replace the item in a savings account, and keep it if you don’t need to use it!

Speak to an adviser about your insurance needs

SPEAK TO AN ADVISER

Related

Debt consolidation - ease the burden of financial outgoings

Debt consolidation - ease the burden of financial outgoings

While we’re not quite at Christmas yet, many of us will have made a big dent in our Christmas shopp...

Read More >
Do you need Private Medical Insurance?

Do you need Private Medical Insurance?

Private Medical Insurance (PMI) can be expensive. Unfortunately, the NHS is under a great deal of st...

Read More >
How is your mortgage affected by Bank England’s record low base rate cut?

How is your mortgage affected by Bank England’s record low base rate cut?

Just days after the base rate was cut to 0.25%, in the wake of the Coronavuris pandemic, Bank of Eng...

Read More >
The Cost of Living Crisis: How financial worries impact Gen Z's health

The Cost of Living Crisis: How financial worries impact Gen Z's health

In the face of the cost of living crisis, financial worries have reached an all-time high among Gene...

Read More >
Equity Release - Gifting to Family and Friends

Equity Release - Gifting to Family and Friends

Equity release gifting is a great way to release tax-free cash from your home to help friends and fa...

Read More >
Beating the hospital waiting list

Beating the hospital waiting list

With a record of nearly 7.5 million on the waiting list for hospital treatment*, it’s no surprise t...

Read More >

What our clients say...

Latest Blog

Five easy ways to save money this festive season

The festive season can bring all sorts of financial stress. But with these tips, we hope you can tak...
Read More

With insurance premiums on the rise, is your policy up to date?

With insurance premiums increasing, it’s a great time to review your policy. Did you know that if y...
Read More

How much equity can I release with a lifetime mortgage?

A lifetime mortgage is a type of equity release. In simple terms, it’s a loan secured against the v...
Read More

Unlock extra benefits with your health insurance

Let’s dive into unlocking extra private health insurance benefits. Such as a second opinion on a ma...
Read More

Income protection to benefit the whole family

Income protection is a policy that will cover you financially if you can’t work due to sickness, in...
Read More

Myth-busting mortgage hurdles

Here are common mortgage myths debunked to help you navigate the home-buying process confidently. Ch...
Read More

How can I save money with my health?

Are you looking for some extra support with your health? There are options to help you save money wi...
Read More

I’m renting - is insurance important?

If you are asking yourself if you need insurance while renting. The answer is yes! Think about every...
Read More

Do you need joint life insurance?

Have you ever wondered whether you and your partner should be on one single life insurance policy? O...
Read More

Should you use equity release to pay off your mortgage?

Should you use equity release to pay off your mortgage? Are your repayments stopping you from saving...
Read More


Fairview Financial Ltd is an appointed representative of The Right Mortgage Limited, which is authorised and regulated by the Financial Conduct Authority. Fairview Financial Ltd is registered in England and Wales no: 10912424. Registered office: 107 Promenade, Cheltenham, GL50 1NW.

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

@ 2020 by Fairview Financial

Our Fees        

A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.

Our standard fee for mortgages is £395 and this is paid when the mortgage is offered. We charge a fee of £295 First-Time Buyers. Other fees may apply depending on the complexity of the work involved or loan amount. The maximum fee we can charge is £795.

Our standard fee for Equity Release is £895 and this is paid on completion.

We also receive a commission from the lender that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed. If we receive a commission, this will not affect the cost payable by you.

THINK CAREFULLY ABOUT SECURING OTHER DEBTS AGAINST YOUR HOME.

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBTS SECURED ON IT.

BUY TO LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

EQUITY RELEASE: THIS IS A LIFETIME MORTGAGE. TO UNDERSTAND THE FEATURES AND RISKS, PLEASE ASK FOR A PERSONALISED ILLUSTRATION. CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.


  • Back to top