A mortgage is often the single biggest financial commitment that many people make during their lifetime, yet fewer than half of all residential mortgage holders choose to take on protection of their mortgage repayment ability with mortgage protection insurance.

Mortgage protection insurance, or mortgage payment protection insurance, is a form of insurance that ensures mortgage repayments are met should the mortgage holder become unemployed, fall critically ill or be unable to earn income due to an accident. This type of protection insurance product is quite cheap to maintain, and allows mortgage holders to set an insurance amount for monthly protection pay-out that covers mortgage costs and additional expenses up to a set percentage above mortgage outgoings.

Most mortgage payment protection insurance policies are strict on protection insurance claims. For instance, should the mortgage holder become unemployed through their own free will, then they would not be covered by the mortgage payment protection insurance policy. However, redundancy does qualify for payment through the protection insurance policy, providing that the mortgage holder actively seeks new employment. (more…)

The violent winds, rains and storm damage from hurricanes can devastate communities and cause billions of dollars worth of destruction. The losses from hurricanes this year alone have surpassed that from almost any other natural disaster in years. The risk to your home and possessions can be enormous and you really should be considering insurance cover for hurricane damage if you live in any area that is exposed to the risk of hurricane. As well as insurance cover however, there are other steps you can be taking to prepare for, and minimise the damage to your property and risk to your family that hurricanes pose.

Since the Atlantic hurricane season in June and continues through till the end of November, there is a significant of the year during which you should be in some way for hurricane threats. Some of the preparations below will be required by insurance policies, others will not but are still helpful to you and your family. Some of them may even be able to bring down your insurance policy price as the insurance company recognises that you are safer than you otherwise would be and are therefore less likely to be making a claim.

Be Prepared

First of all you should be familiar with the terms of your insurance policy and any disaster preparedness and response plans they have. These will help you in the case that disaster does strike or you find yourself in need of making a claim.
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