(UK) What kinds of insurance legally have to be taken out when I take out a mortgage?

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1. mortgage company insist on building (structure) insurance protected should happen home, such in case if fire or flood took place.

2. content insurance highly advised protect home's contents should happen, not requirement of mortgage company since have no interest in home's contents unless of course want pledge contents additional security mortgage, while quite rarely, happen in higher risk situations.

3. mortgage companies recommend life insurance of sort, while have life-insurance policy built mortgage beneficiary should die while there still money owing on property.

4, , finally, mortgage companies try , sell on mortgage insurance, insurance against losing job , not being able pay mortgage payments. general rule, type of insurance expensive, , few opt it, there many disclaimers involved such not paying out should quit job, or otherwise lose through fault of own. in other words, pay high premium have type of insurance, not able collect on if did happen.

hope helps. luck!

e.g. life insurance, building insurance , content insurance


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