Insurance & Protection

Alongside a full range of mortgage solutions, SIMKey are able to advise on Insurances and Protection too – providing a one stop shop; we will advise on the levels and cover needed and ensure you have the right protection.

If the very worst happened, your loved ones should be in a position to ‘carry on’, have mortgage payments maintained and if included, a cash lump sum to help meet costs. This is why putting the required level of Insurance and Protection in place right from the start of your house buying journey is absolutely key,

Reassuringly, we partner with some of the very best policy providers which ensures that you have the best choice of providers and cover for your needs.

Policies can include:-

Buildings and Contents insurance can be split into two products:-

  • Buildings cover protects your house structure ie., the bricks and mortar against risks such as fire, flood, subsidence, earthquake etc.
  • Contents insurance protects your furniture and belongings (chattels), against all of the above and also burglary, theft etc.

Both of these policy types can cover just the basics or they can be extended to cover additional risks such as accidental damage, which would insure your possessions if someone spilt a drink over it by accident for example, or falling through the ceiling whilst in the loft.

Additional high risk items such as bikes and tools in sheds and jewellery and credit cards may be added too. Policy premiums will vary depending on the amount to be insured, your property post code area and the policy holders previous claims experience.

If you were unable to work due to an accident or long term illness, Income Protection would provide funds to a pre-agreed level of income until the end of the policy term or until you are able to return to work.

Critical Illness Insurance provides you with a lump sum upon diagnosis of a specified critical illness providing financial help in your time of need.

In the event of redundancy or illness, mortgage protection also known as accident, sickness and unemployment cover provides peace of mind and with the right policy in place, it will ensure your mortgage payments are met and your home safe.

As most standard mortgages do not include any protection insurance it is important to consider hard, the kind of cover you need. To insure you against changes in your circumstances, accident, sickness and unemployment cover is needed. Payment is usually annual but if you would like to be covered for longer than this you may want to consider taking out income protection.

Accident, sickness and unemployment cover typically costs £4.71 per month for every £100 of monthly benefit.  This is based on a 36 year old customer choosing £850 of accident, sickness and unemployment monthly benefit with claims paid after a 30 day period.  The cost of this insurance depends on a number of factors, such as your age, where you live and your occupation.  As a result, the cost you will pay is based on your own circumstances.

There are other providers of short term income protection and other products designed to protect you against loss of income.  For impartial advice about this type of insurance, please visit the website

Life Assurance provides cover in the event of premature death or diagnosis of a terminal illness providing a lump sum to ensure your mortgage will be repaid and the costs not passed on to your dependents or loved ones.

SIMKey will be able to refer any enquiries for business protection – please ask.

NB. As with all insurance policies, conditions and exclusion will apply

To find further information on any of the above policies, please give us a call or complete our web enquiry form on the contact page [click here] and we’ll be happy to assist.